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

Chesapeake Energy Co. (NASDAQ:CHKGet Rating) – Capital One Financial cut their FY2022 earnings per share estimates for shares of Chesapeake Energy in a report issued on Wednesday, November 16th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $16.22 for the year, down from their previous forecast of $16.86. The consensus estimate for Chesapeake Energy’s current full-year earnings is $16.73 per share. Capital One Financial also issued estimates for Chesapeake Energy’s Q4 2022 earnings at $3.20 EPS, Q3 2023 earnings at $4.93 EPS and FY2023 earnings at $19.49 EPS.

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

Several other equities analysts have also weighed in on the company. Scotiabank assumed coverage on Chesapeake Energy in a research note on Wednesday, August 3rd. They issued a “sector perform” rating and a $111.00 price target for the company. Royal Bank of Canada upped their price target on Chesapeake Energy from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, November 2nd. Benchmark assumed coverage on Chesapeake Energy in a report on Tuesday, August 2nd. They issued a “buy” rating and a $137.00 price objective on the stock. Jefferies Financial Group assumed coverage on Chesapeake Energy in a report on Wednesday, October 19th. They issued a “buy” rating and a $150.00 price objective on the stock. Finally, TheStreet upgraded Chesapeake Energy from a “d” rating to a “c-” rating in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.67.

Chesapeake Energy Stock Performance

Shares of CHK opened at $98.86 on Monday. The stock has a 50-day moving average of $99.46 and a two-hundred day moving average of $94.71. Chesapeake Energy has a one year low of $56.75 and a one year high of $107.31. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market cap of $13.24 billion, a P/E ratio of 5.15, a P/E/G ratio of 0.94 and a beta of 0.74.

Hedge Funds Weigh In On Chesapeake Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank lifted its holdings in Chesapeake Energy by 3.0% in the 1st quarter. Comerica Bank now owns 8,529 shares of the company’s stock worth $792,000 after buying an additional 245 shares in the last quarter. Mutual of America Capital Management LLC grew its position in Chesapeake Energy by 3.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 62,432 shares of the company’s stock worth $5,432,000 after purchasing an additional 2,143 shares during the last quarter. Janney Capital Management LLC bought a new position in Chesapeake Energy in the 1st quarter worth about $11,152,000. Envestnet Asset Management Inc. grew its position in Chesapeake Energy by 103.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 22,337 shares of the company’s stock worth $1,943,000 after purchasing an additional 11,353 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Chesapeake Energy in the 1st quarter worth approximately $260,000.

Chesapeake Energy Increases Dividend

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

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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