Chesapeake Energy (NASDAQ:CHK) Given New $85.00 Price Target at UBS Group

Chesapeake Energy (NASDAQ:CHK) had its price objective decreased by UBS Group from $93.00 to $85.00 in a research note released on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded Chesapeake Energy to a sell rating in a report on Wednesday, August 14th. Mizuho cut their price objective on Chesapeake Energy from $111.00 to $105.00 and set an outperform rating on the stock in a report on Monday, September 16th. Stephens lifted their price objective on Chesapeake Energy from $117.00 to $118.00 and gave the company an equal weight rating in a report on Tuesday, July 30th. Truist Financial cut their price objective on Chesapeake Energy from $112.00 to $108.00 and set a buy rating on the stock in a report on Monday, July 22nd. Finally, Wolfe Research assumed coverage on Chesapeake Energy in a report on Thursday, July 18th. They set an outperform rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $105.92.

Chesapeake Energy Price Performance

Chesapeake Energy stock opened at $78.46 on Wednesday. The business’s 50-day simple moving average is $74.62 and its 200 day simple moving average is $82.72. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 10.57 and a beta of 0.46. Chesapeake Energy has a 12-month low of $69.12 and a 12-month high of $93.58. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

Chesapeake Energy (NASDAQ:CHK) last issued its earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The company had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. During the same quarter last year, the business posted $0.64 EPS. Chesapeake Energy’s quarterly revenue was down 73.3% on a year-over-year basis. As a group, research analysts anticipate that Chesapeake Energy will post 1.32 earnings per share for the current year.

Chesapeake Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 annualized dividend and a yield of 2.93%. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Institutional Trading of Chesapeake Energy

Several institutional investors have recently added to or reduced their stakes in CHK. Principal Securities Inc. bought a new stake in shares of Chesapeake Energy during the 4th quarter valued at $28,000. Lindbrook Capital LLC lifted its position in shares of Chesapeake Energy by 90.8% during the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Chesapeake Energy during the 1st quarter worth $37,000. BOKF NA acquired a new position in shares of Chesapeake Energy during the 1st quarter worth $45,000. Finally, GAMMA Investing LLC raised its holdings in shares of Chesapeake Energy by 75.6% during the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after buying an additional 245 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

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.