Chesapeake Energy (NASDAQ:CHK) Posts Quarterly Earnings Results

Chesapeake Energy (NASDAQ:CHK) posted its quarterly earnings results on Tuesday. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.08), Briefing.com reports. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $674.99 million. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. During the same period last year, the firm earned $1.87 EPS.

Chesapeake Energy Price Performance

Shares of CHK stock traded down $3.30 on Wednesday, hitting $86.58. 1,847,810 shares of the company’s stock were exchanged, compared to its average volume of 2,028,766. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.99 and a quick ratio of 1.99. Chesapeake Energy has a 12 month low of $72.84 and a 12 month high of $93.58. The stock has a market cap of $11.32 billion, a P/E ratio of 5.12 and a beta of 0.52. The company has a 50 day moving average of $86.43 and a 200 day moving average of $82.10.

Chesapeake Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, March 7th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $2.30 annualized dividend and a dividend yield of 2.66%. Chesapeake Energy’s dividend payout ratio is currently 13.66%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. 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. Scotiabank lifted their target price on Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. KeyCorp assumed coverage on Chesapeake Energy in a research note on Thursday, April 4th. They set a “sector weight” rating for the company. Citigroup upgraded Chesapeake Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $82.00 to $95.00 in a research note on Friday, January 12th. Finally, Jefferies Financial Group reduced their target price on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $105.83.

About Chesapeake Energy

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.