South Dakota Investment Council Sells 3,695 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

South Dakota Investment Council cut its position in shares of Chesapeake Energy Co. (NASDAQ:CHKFree Report) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,692 shares of the company’s stock after selling 3,695 shares during the period. South Dakota Investment Council’s holdings in Chesapeake Energy were worth $3,285,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Gladius Capital Management LP bought a new stake in Chesapeake Energy in the third quarter valued at $36,000. GAMMA Investing LLC bought a new stake in Chesapeake Energy in the fourth quarter valued at $40,000. Adirondack Trust Co. bought a new stake in Chesapeake Energy in the third quarter valued at $43,000. Allworth Financial LP grew its position in Chesapeake Energy by 160.7% in the fourth quarter. Allworth Financial LP now owns 730 shares of the company’s stock valued at $56,000 after acquiring an additional 450 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new stake in Chesapeake Energy in the fourth quarter valued at $86,000. 97.93% of the stock is currently owned by institutional investors.

Chesapeake Energy Trading Up 2.4 %

Shares of CHK opened at $90.69 on Thursday. 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 Co. has a 12-month low of $72.84 and a 12-month high of $91.03. The firm has a market capitalization of $11.86 billion, a PE ratio of 5.39 and a beta of 0.52. The stock’s fifty day simple moving average is $85.37 and its 200-day simple moving average is $82.07.

Chesapeake Energy (NASDAQ:CHKGet Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $962.95 million. During the same quarter in the prior year, the firm posted $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 year.

Chesapeake Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, March 6th. Chesapeake Energy’s dividend payout ratio (DPR) is presently 13.66%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CHK. Truist Financial lowered their price target on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Citigroup raised Chesapeake Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $82.00 to $95.00 in a research note on Friday, January 12th. Jefferies Financial Group reduced their price objective on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. KeyCorp assumed coverage on Chesapeake Energy in a research note on Thursday, April 4th. They issued a “sector weight” rating on the stock. Finally, UBS Group boosted their price objective on Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. One equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.73.

Check Out Our Latest Analysis on CHK

Chesapeake Energy Profile

(Free Report)

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.

Further Reading

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

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