Raymond James Financial Services Advisors Inc. Increases Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Raymond James Financial Services Advisors Inc. lifted its position in Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,552 shares of the company’s stock after purchasing an additional 383 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Chesapeake Energy were worth $617,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC purchased a new position in Chesapeake Energy during the second quarter valued at approximately $28,000. Salem Investment Counselors Inc. purchased a new position in Chesapeake Energy during the first quarter valued at approximately $32,000. Covestor Ltd raised its position in Chesapeake Energy by 292.0% during the first quarter. Covestor Ltd now owns 439 shares of the company’s stock valued at $38,000 after acquiring an additional 327 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Chesapeake Energy during the second quarter valued at approximately $36,000. Finally, CoreCap Advisors LLC purchased a new position in Chesapeake Energy during the second quarter valued at approximately $37,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on CHK shares. Jefferies Financial Group started 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. StockNews.com started coverage on Chesapeake Energy in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group dropped their price objective on Chesapeake Energy from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, January 19th. Wells Fargo & Company started coverage on Chesapeake Energy in a report on Tuesday. They issued an “overweight” rating on the stock. Finally, Mizuho started coverage on Chesapeake Energy in a report on Monday, January 9th. They issued a “buy” rating and a $155.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.09.

Chesapeake Energy Price Performance

Shares of NASDAQ CHK opened at $91.84 on Wednesday. The firm has a 50-day simple moving average of $95.42 and a 200-day simple moving average of $97.75. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 4.78 and a beta of 0.79. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. Chesapeake Energy Co. has a 52 week low of $63.31 and a 52 week high of $107.31.

Chesapeake Energy (NASDAQ:CHK – Get Rating) last issued its earnings results on Tuesday, November 1st. The company reported $5.06 EPS for the quarter, beating analysts’ consensus estimates of $4.48 by $0.58. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Chesapeake Energy had a net margin of 26.07% and a return on equity of 37.97%. On average, equities analysts predict that Chesapeake Energy Co. will post 16.13 earnings per share for the current fiscal year.

Chesapeake Energy Increases Dividend

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

Chesapeake Energy Profile

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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.