Chesapeake Energy Co. (NASDAQ:CHK) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in Chesapeake Energy Co. (NASDAQ:CHK) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,943 shares of the company’s stock after selling 1,559 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Chesapeake Energy were worth $4,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA boosted its holdings in Chesapeake Energy by 29.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,104,685 shares of the company’s stock valued at $353,947,000 after purchasing an additional 936,169 shares in the last quarter. Kimmeridge Energy Management Company LLC raised its position in Chesapeake Energy by 16.2% in the third quarter. Kimmeridge Energy Management Company LLC now owns 3,153,879 shares of the company’s stock worth $271,959,000 after acquiring an additional 439,186 shares in the last quarter. Bank of New York Mellon Corp grew its position in Chesapeake Energy by 15.2% during the third quarter. Bank of New York Mellon Corp now owns 3,235,870 shares of the company’s stock worth $279,029,000 after buying an additional 427,181 shares during the period. Lord Abbett & CO. LLC grew its holdings in Chesapeake Energy by 18.6% in the third quarter. Lord Abbett & CO. LLC now owns 2,723,456 shares of the company’s stock valued at $234,844,000 after purchasing an additional 426,560 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Chesapeake Energy by 190.8% in the third quarter. AQR Capital Management LLC now owns 620,462 shares of the company’s stock valued at $53,502,000 after purchasing an additional 407,082 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Performance

Chesapeake Energy stock traded up $0.59 during midday trading on Friday, reaching $92.06. The stock had a trading volume of 1,515,468 shares, compared to its average volume of 2,031,055. The firm has a market capitalization of $12.04 billion, a PE ratio of 5.40 and a beta of 0.52. The firm’s 50-day moving average price is $85.63 and its 200 day moving average price is $82.14. Chesapeake Energy Co. has a 12 month low of $72.84 and a 12 month high of $92.25. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.19.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings data on Tuesday, February 20th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.42 by $0.89. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $962.95 million. During the same quarter in the previous year, the business earned $4.22 earnings per share. As a group, research analysts predict that Chesapeake Energy Co. will post 1.76 earnings per share for the current fiscal year.

Chesapeake Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, March 7th were issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Wednesday, March 6th. Chesapeake Energy’s payout ratio is 13.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CHK shares. KeyCorp started coverage on Chesapeake Energy in a research report on Thursday, April 4th. They issued a “sector weight” rating on the stock. Jefferies Financial Group decreased their price target on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Mizuho reaffirmed a “buy” rating and set a $100.00 target price on shares of Chesapeake Energy in a report on Thursday, April 11th. Truist Financial lowered their price objective on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, UBS Group boosted their price objective on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Chesapeake Energy presently has a consensus rating of “Hold” and a consensus target price of $104.73.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. 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.