Xponance Inc. Boosts Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Posted by on Oct 3rd, 2023

Xponance Inc. boosted its position in Chesapeake Energy Co. (NASDAQ:CHK – Free Report) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,468 shares of the company’s stock after purchasing an additional 185 shares during the quarter. Xponance Inc.’s holdings in Chesapeake Energy were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CHK. Belpointe Asset Management LLC raised its position in shares of Chesapeake Energy by 478.3% during the 1st quarter. Belpointe Asset Management LLC now owns 347 shares of the company’s stock valued at $26,000 after buying an additional 287 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Chesapeake Energy during the 1st quarter valued at $32,000. Covestor Ltd raised its position in shares of Chesapeake Energy by 292.0% during the 1st quarter. Covestor Ltd now owns 439 shares of the company’s stock valued at $38,000 after buying an additional 327 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Chesapeake Energy during the 4th quarter valued at $41,000. Finally, Global Retirement Partners LLC raised its position in shares of Chesapeake Energy by 5,980.0% during the 1st quarter. Global Retirement Partners LLC now owns 608 shares of the company’s stock valued at $47,000 after buying an additional 598 shares in the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Energy Price Performance

Shares of Chesapeake Energy stock opened at $83.64 on Tuesday. The firm has a market cap of $11.07 billion, a PE ratio of 1.97 and a beta of 0.67. Chesapeake Energy Co. has a 12-month low of $69.68 and a 12-month high of $107.31. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $85.59 and its two-hundred day simple moving average is $82.32.

Chesapeake Energy (NASDAQ:CHK – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. Chesapeake Energy had a net margin of 49.75% and a return on equity of 18.92%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $917.52 million. During the same quarter last year, the firm earned $4.87 EPS. As a group, equities analysts expect that Chesapeake Energy Co. will post 4.53 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Thursday, August 17th were given a $0.575 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.30 annualized dividend and a dividend yield of 2.75%. Chesapeake Energy’s dividend payout ratio is 5.42%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CHK. Benchmark lowered their price objective on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. UBS Group increased their target price on shares of Chesapeake Energy from $102.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Wells Fargo & Company increased their target price on shares of Chesapeake Energy from $85.00 to $89.00 and gave the company an “equal weight” rating in a report on Friday, September 1st. StockNews.com assumed coverage on shares of Chesapeake Energy in a report on Wednesday, August 23rd. They set a “hold” rating on the stock. Finally, Bank of America increased their target price on shares of Chesapeake Energy from $144.00 to $147.00 in a report on Wednesday, September 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.00.

View Our Latest Analysis on Chesapeake Energy

Chesapeake Energy Profile

(Free Report)

Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties to produce 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.

Further Reading

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Institutional Ownership by Quarter for Chesapeake Energy (NASDAQ:CHK)

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