Capital World Investors Has $72.68 Million Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Capital World Investors lowered its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 75.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 818,211 shares of the company’s stock after selling 2,493,503 shares during the quarter. Capital World Investors owned 0.62% of Chesapeake Energy worth $72,682,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC lifted its stake in Chesapeake Energy by 84.1% in the 4th quarter. SG Americas Securities LLC now owns 4,417 shares of the company’s stock worth $340,000 after acquiring an additional 2,018 shares in the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of Chesapeake Energy by 6.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 11,903 shares of the company’s stock worth $916,000 after purchasing an additional 734 shares during the period. Spirit of America Management Corp NY grew its position in Chesapeake Energy by 93.8% during the fourth quarter. Spirit of America Management Corp NY now owns 7,750 shares of the company’s stock valued at $596,000 after purchasing an additional 3,750 shares in the last quarter. Allworth Financial LP increased its stake in Chesapeake Energy by 160.7% in the 4th quarter. Allworth Financial LP now owns 730 shares of the company’s stock valued at $56,000 after buying an additional 450 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its position in Chesapeake Energy by 4.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,761 shares of the company’s stock worth $289,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CHK. Barclays began coverage on shares of Chesapeake Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $102.00 price target on the stock. UBS Group lifted their price target on Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Benchmark dropped their price objective on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. KeyCorp assumed coverage on shares of Chesapeake Energy in a research note on Thursday, June 27th. They issued a “sector weight” rating for the company. Finally, Jefferies Financial Group decreased their target price on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $106.62.

Chesapeake Energy Stock Up 0.5 %

CHK stock opened at $77.79 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.33 and a quick ratio of 2.33. The company has a 50-day moving average of $85.04 and a two-hundred day moving average of $84.28. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 10.48 and a beta of 0.47. Chesapeake Energy Co. has a 52-week low of $72.84 and a 52-week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.08). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $674.99 million. Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. During the same quarter in the previous year, the company earned $1.87 EPS. As a group, equities research analysts anticipate that Chesapeake Energy Co. will post 1.3 EPS for the current year.

Chesapeake Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Thursday, May 16th were given a dividend of $0.715 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 3.68%. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s payout ratio is 31.00%.

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.