LSV Asset Management Lowers Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

LSV Asset Management decreased its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 822,190 shares of the company’s stock after selling 36,310 shares during the quarter. LSV Asset Management’s holdings in Chesapeake Energy were worth $63,259,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new position in Chesapeake Energy in the 3rd quarter worth about $36,000. Adirondack Trust Co. purchased a new position in shares of Chesapeake Energy during the third quarter valued at approximately $43,000. GAMMA Investing LLC bought a new position in Chesapeake Energy during the fourth quarter valued at approximately $40,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Chesapeake Energy by 1,207.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 680 shares of the company’s stock worth $52,000 after purchasing an additional 628 shares during the last quarter. Finally, Allworth Financial LP grew its position in Chesapeake Energy by 160.7% in the 4th quarter. Allworth Financial LP now owns 730 shares of the company’s stock worth $56,000 after purchasing an additional 450 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Price Performance

Shares of NASDAQ CHK traded down $0.12 during midday trading on Friday, reaching $86.67. The stock had a trading volume of 2,836,734 shares, compared to its average volume of 1,684,417. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.99 and a current ratio of 2.33. The stock has a 50-day moving average of $86.65 and a 200-day moving average of $82.15. Chesapeake Energy Co. has a 12-month low of $72.84 and a 12-month high of $93.58. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 11.68 and a beta of 0.51.

Chesapeake Energy (NASDAQ:CHK) last issued its earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $674.99 million. During the same quarter in the prior year, the company posted $1.87 EPS. As a group, research analysts anticipate that Chesapeake Energy Co. will post 1.19 EPS for the current fiscal year.

Chesapeake Energy Increases Dividend

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

Analyst Upgrades and Downgrades

CHK has been the topic of several research analyst reports. 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 report on Friday, April 5th. Jefferies Financial Group cut their price target 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. KeyCorp initiated coverage on shares of Chesapeake Energy in a research note on Thursday, April 4th. They issued a “sector weight” rating on the stock. Citigroup raised shares of Chesapeake Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $95.00 in a research report on Friday, January 12th. Finally, Barclays began coverage on Chesapeake Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, 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.