Chesapeake Energy Co. (NASDAQ:CHK) Expected to Earn Q2 2024 Earnings of $0.30 Per Share

Chesapeake Energy Co. (NASDAQ:CHK) – Equities researchers at Seaport Res Ptn reduced their Q2 2024 EPS estimates for Chesapeake Energy in a research report issued on Wednesday, May 1st. Seaport Res Ptn analyst N. Pope now forecasts that the company will earn $0.30 per share for the quarter, down from their previous forecast of $0.53. The consensus estimate for Chesapeake Energy’s current full-year earnings is $1.76 per share. Seaport Res Ptn also issued estimates for Chesapeake Energy’s Q3 2024 earnings at $0.41 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $1.82 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.89 EPS, Q4 2025 earnings at $1.48 EPS and FY2025 earnings at $3.57 EPS.

Several other analysts also recently commented on CHK. UBS Group boosted their target price on shares of Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Jefferies Financial Group decreased their target price on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Benchmark decreased their target price on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial decreased their price objective on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Barclays assumed coverage on shares of Chesapeake Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $102.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $105.83.

Chesapeake Energy Stock Up 0.1 %

CHK stock opened at $86.79 on Friday. The firm has a market capitalization of $11.37 billion, a P/E ratio of 11.70 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.33 and a quick ratio of 1.99. The company’s 50 day simple moving average is $86.49 and its 200-day simple moving average is $82.14. Chesapeake Energy has a 52-week low of $72.84 and a 52-week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $674.99 million. During the same quarter in the prior year, the firm earned $1.87 EPS.

Hedge Funds Weigh In On Chesapeake Energy

A number of institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its position in shares of Chesapeake Energy by 1.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 9,439 shares of the company’s stock valued at $716,000 after acquiring an additional 151 shares during the period. Stratos Wealth Partners LTD. lifted its position in Chesapeake Energy by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,761 shares of the company’s stock worth $289,000 after purchasing an additional 154 shares during the period. Forum Financial Management LP lifted its position in Chesapeake Energy by 6.2% during the third quarter. Forum Financial Management LP now owns 2,812 shares of the company’s stock worth $242,000 after purchasing an additional 163 shares during the period. Signaturefd LLC lifted its position in Chesapeake Energy by 16.5% during the fourth quarter. Signaturefd LLC now owns 1,250 shares of the company’s stock worth $96,000 after purchasing an additional 177 shares during the period. Finally, Lindbrook Capital LLC lifted its position in Chesapeake Energy by 90.8% during the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after purchasing an additional 178 shares during the period. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 3.30%. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, May 15th. Chesapeake Energy’s payout ratio is presently 31.00%.

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.