Seven Eight Capital LP Boosts Stock Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Seven Eight Capital LP increased its stake in Chesapeake Energy Co. (NASDAQ:CHKFree Report) by 19.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,522 shares of the company’s stock after acquiring an additional 1,408 shares during the quarter. Seven Eight Capital LP’s holdings in Chesapeake Energy were worth $735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC boosted 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 acquiring an additional 287 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Chesapeake Energy by 132.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 362 shares of the company’s stock valued at $30,000 after acquiring an additional 206 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Chesapeake Energy in the first quarter valued at about $32,000. Gladius Capital Management LP acquired a new position in Chesapeake Energy in the third quarter valued at about $36,000. Finally, Covestor Ltd lifted its position in Chesapeake Energy by 292.0% in the first quarter. Covestor Ltd now owns 439 shares of the company’s stock valued at $38,000 after buying an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Performance

Shares of NASDAQ:CHK opened at $81.53 on Friday. The firm has a market capitalization of $10.66 billion, a PE ratio of 4.84, a P/E/G ratio of 6.04 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.99 and a quick ratio of 1.99. The business has a 50-day moving average of $78.71 and a two-hundred day moving average of $81.80. Chesapeake Energy Co. has a 12 month low of $69.68 and a 12 month high of $91.00.

Chesapeake Energy (NASDAQ:CHKGet Free Report) last issued its earnings results on Tuesday, February 20th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.89. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $962.95 million. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. During the same quarter in the prior year, the business earned $4.22 earnings per share. As a group, research analysts forecast that Chesapeake Energy Co. will post 2.84 earnings per share for the current year.

Chesapeake Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Thursday, March 7th will be issued a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Wednesday, March 6th. Chesapeake Energy’s dividend payout ratio is currently 13.66%.

Wall Street Analysts Forecast Growth

CHK has been the topic of a number of recent research reports. Benchmark cut their target price on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, January 12th. Johnson Rice downgraded Chesapeake Energy from a “buy” rating to an “accumulate” rating in a report on Thursday, December 14th. Mizuho decreased their price target on Chesapeake Energy from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. StockNews.com downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Finally, Citigroup raised shares of Chesapeake Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $82.00 to $95.00 in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $103.90.

View Our Latest Report on Chesapeake Energy

About Chesapeake Energy

(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.

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

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