Glenorchy Capital Ltd Boosts Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Glenorchy Capital Ltd grew its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 73.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,918 shares of the company’s stock after acquiring an additional 11,424 shares during the period. Chesapeake Energy comprises approximately 0.7% of Glenorchy Capital Ltd’s portfolio, making the stock its 28th biggest holding. Glenorchy Capital Ltd’s holdings in Chesapeake Energy were worth $2,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CHK. Allspring Global Investments Holdings LLC purchased a new position in shares of Chesapeake Energy during the first quarter valued at approximately $37,000. BOKF NA purchased a new position in Chesapeake Energy during the 1st quarter valued at $45,000. GAMMA Investing LLC grew its position in Chesapeake Energy by 75.6% in the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock valued at $47,000 after acquiring an additional 245 shares during the last quarter. Blue Trust Inc. increased its stake in Chesapeake Energy by 895.6% in the second quarter. Blue Trust Inc. now owns 677 shares of the company’s stock worth $60,000 after purchasing an additional 609 shares during the period. Finally, Mather Group LLC. lifted its position in shares of Chesapeake Energy by 1,384.8% during the second quarter. Mather Group LLC. now owns 683 shares of the company’s stock worth $61,000 after purchasing an additional 637 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CHK. Stephens upped their price target on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. KeyCorp initiated coverage on shares of Chesapeake Energy in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Truist Financial dropped their price objective on Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Roth Capital raised Chesapeake Energy to a “strong-buy” rating in a research report on Friday, September 27th. Finally, UBS Group dropped their price target on Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.92.

Chesapeake Energy Stock Performance

Shares of Chesapeake Energy stock opened at $81.46 on Friday. The company has a market capitalization of $10.68 billion, a PE ratio of 10.98 and a beta of 0.47. The company has a 50-day simple moving average of $75.74 and a two-hundred day simple moving average of $82.24. Chesapeake Energy Co. has a one year low of $69.12 and a one year high of $93.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The company’s revenue was down 73.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Research analysts expect that Chesapeake Energy Co. will post 1.43 EPS for the current fiscal year.

Chesapeake Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.82%. Chesapeake Energy’s payout ratio is 31.00%.

Chesapeake Energy 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.