Capital One Financial Equities Analysts Reduce Earnings Estimates for Chesapeake Energy Co. (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHKGet Rating) – Investment analysts at Capital One Financial cut their Q1 2023 earnings per share (EPS) estimates for shares of Chesapeake Energy in a research note issued on Wednesday, November 16th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $3.45 per share for the quarter, down from their prior forecast of $3.78. The consensus estimate for Chesapeake Energy’s current full-year earnings is $16.85 per share. Capital One Financial also issued estimates for Chesapeake Energy’s Q2 2023 earnings at $5.08 EPS, Q4 2023 earnings at $6.03 EPS and FY2024 earnings at $19.60 EPS.

Chesapeake Energy (NASDAQ:CHKGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $5.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.48 by $0.58. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $1.83 billion. Chesapeake Energy had a return on equity of 37.97% and a net margin of 26.07%.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group began coverage on Chesapeake Energy in a research note on Wednesday, October 19th. They set a “buy” rating and a $150.00 price target for the company. Scotiabank began coverage on Chesapeake Energy in a research note on Wednesday, August 3rd. They set a “sector perform” rating and a $111.00 price target for the company. StockNews.com began coverage on Chesapeake Energy in a research note on Wednesday, October 12th. They set a “hold” rating for the company. TheStreet upgraded Chesapeake Energy from a “d” rating to a “c-” rating in a research note on Wednesday, August 3rd. Finally, Royal Bank of Canada raised their target price on Chesapeake Energy from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $113.67.

Chesapeake Energy Stock Down 1.0 %

Shares of NASDAQ:CHK opened at $98.86 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market capitalization of $13.24 billion, a PE ratio of 5.13, a price-to-earnings-growth ratio of 0.94 and a beta of 0.74. Chesapeake Energy has a 1 year low of $56.75 and a 1 year high of $107.31. The business has a fifty day moving average price of $99.36 and a two-hundred day moving average price of $94.60.

Chesapeake Energy Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a dividend of $3.16 per share. This represents a dividend yield of 2.1%. This is a boost from Chesapeake Energy’s previous None dividend of $2.32. The ex-dividend date is Monday, November 14th. Chesapeake Energy’s dividend payout ratio (DPR) is currently 11.46%.

Hedge Funds Weigh In On Chesapeake Energy

A number of large investors have recently modified their holdings of CHK. Prelude Capital Management LLC raised its holdings in shares of Chesapeake Energy by 100.2% during the 1st quarter. Prelude Capital Management LLC now owns 10,014 shares of the company’s stock valued at $871,000 after buying an additional 6,175,883 shares in the last quarter. Vanguard Group Inc. grew its position in Chesapeake Energy by 15.7% during the 1st quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock worth $974,127,000 after acquiring an additional 1,517,281 shares during the last quarter. Two Sigma Investments LP bought a new position in Chesapeake Energy during the 3rd quarter worth approximately $135,396,000. Clearbridge Investments LLC grew its position in Chesapeake Energy by 4,616.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,396,744 shares of the company’s stock worth $121,517,000 after acquiring an additional 1,367,131 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Chesapeake Energy by 1,578.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,243,663 shares of the company’s stock worth $108,199,000 after acquiring an additional 1,169,567 shares during the last quarter.

About Chesapeake Energy

(Get Rating)

Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties for the production of 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; and the liquids-rich resource play in the Eagle Ford Shale in South Texas.

See Also

Earnings History and Estimates for Chesapeake Energy (NASDAQ:CHK)

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