Chesapeake Energy Co. (NASDAQ:CHK) Shares Acquired by Janney Montgomery Scott LLC

Posted by Defense World Staff on Apr 21st, 2023

Janney Montgomery Scott LLC increased its position in shares of Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) by 15.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,306 shares of the company’s stock after purchasing an additional 8,687 shares during the period. Janney Montgomery Scott LLC’s holdings in Chesapeake Energy were worth $6,257,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CHK. Raymond James Financial Services Advisors Inc. raised its holdings in Chesapeake Energy by 23.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,958 shares of the company’s stock worth $518,000 after purchasing an additional 1,121 shares in the last quarter. American Century Companies Inc. raised its holdings in Chesapeake Energy by 44.0% during the first quarter. American Century Companies Inc. now owns 28,070 shares of the company’s stock worth $2,442,000 after purchasing an additional 8,578 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Chesapeake Energy by 20,980.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,054 shares of the company’s stock worth $93,000 after purchasing an additional 1,049 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Chesapeake Energy by 64.3% during the first quarter. Allianz Asset Management GmbH now owns 287,074 shares of the company’s stock worth $24,976,000 after purchasing an additional 112,360 shares in the last quarter. Finally, Prudential PLC purchased a new position in Chesapeake Energy during the first quarter worth about $569,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CHK. JPMorgan Chase & Co. dropped their target price on shares of Chesapeake Energy from $106.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, April 12th. Citigroup began coverage on shares of Chesapeake Energy in a report on Wednesday, February 8th. They issued a “neutral” rating and a $90.00 target price for the company. Mizuho dropped their target price on shares of Chesapeake Energy from $155.00 to $129.00 in a report on Friday, March 10th. StockNews.com began coverage on shares of Chesapeake Energy in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Chesapeake Energy in a report on Thursday, March 16th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.27.

Chesapeake Energy Stock Up 0.1 %

CHK stock opened at $80.99 on Friday. The stock has a market capitalization of $10.91 billion, a P/E ratio of 2.53, a PEG ratio of 0.62 and a beta of 0.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.00 and a current ratio of 1.00. Chesapeake Energy Co. has a one year low of $69.68 and a one year high of $107.31. The company has a 50 day moving average price of $75.98 and a two-hundred day moving average price of $86.42.

Chesapeake Energy (NASDAQ:CHK – Get Rating) last released its earnings results on Tuesday, February 21st. The company reported $4.22 EPS for the quarter, topping the consensus estimate of $2.96 by $1.26. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Chesapeake Energy had a net margin of 42.03% and a return on equity of 37.70%. During the same period in the previous year, the company earned $2.39 EPS. As a group, sell-side analysts expect that Chesapeake Energy Co. will post 4.41 EPS for the current year.

Chesapeake Energy Cuts Dividend

The company also recently announced a None dividend, which was paid on Thursday, March 23rd. Shareholders of record on Tuesday, March 7th were paid a $1.29 dividend. The ex-dividend date of this dividend was Monday, March 6th. This represents a yield of 2.4%. Chesapeake Energy’s payout ratio is currently 6.86%.

Chesapeake Energy Profile

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Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the United States. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana; and the liquids-rich resource play in the Eagle Ford Shale in South Texas.