2,788 Shares in Chesapeake Energy Co. (NASDAQ:CHK) Bought by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in shares of Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,788 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds have also recently added to or reduced their stakes in CHK. Parallel Advisors LLC raised its position in Chesapeake Energy by 184.6% during the fourth quarter. Parallel Advisors LLC now owns 350 shares of the company’s stock worth $33,000 after acquiring an additional 227 shares during the period. Salem Investment Counselors Inc. acquired a new position in Chesapeake Energy during the first quarter worth $32,000. Ronald Blue Trust Inc. raised its position in Chesapeake Energy by 338.8% during the fourth quarter. Ronald Blue Trust Inc. now owns 430 shares of the company’s stock worth $40,000 after acquiring an additional 332 shares during the period. 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 worth $38,000 after acquiring an additional 327 shares during the period. Finally, Princeton Global Asset Management LLC raised its position in Chesapeake Energy by 91.4% during the third quarter. Princeton Global Asset Management LLC now owns 578 shares of the company’s stock worth $54,000 after acquiring an additional 276 shares during the period.

Wall Street Analysts Forecast Growth

CHK has been the subject of a number of research analyst reports. Truist Financial started coverage on shares of Chesapeake Energy in a research report on Monday, April 24th. They set a “buy” rating and a $100.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of Chesapeake Energy from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 11th. Mizuho reduced their target price on shares of Chesapeake Energy from $155.00 to $129.00 in a research report on Friday, March 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Chesapeake Energy in a research report on Thursday, March 16th. Finally, Benchmark reduced their target price on shares of Chesapeake Energy from $112.00 to $107.00 and set a “buy” rating for the company in a research report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.54.

Chesapeake Energy Price Performance

Chesapeake Energy stock opened at $81.22 on Monday. Chesapeake Energy Co. has a 52 week low of $69.68 and a 52 week high of $107.31. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $78.43 and its 200 day simple moving average is $83.01. The firm has a market capitalization of $10.87 billion, a PE ratio of 1.69, a P/E/G ratio of 0.68 and a beta of 0.65.

Chesapeake Energy (NASDAQ:CHK – Get Rating) last announced its earnings results on Tuesday, May 2nd. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.32. Chesapeake Energy had a net margin of 50.00% and a return on equity of 29.75%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $3.09 EPS. On average, equities research analysts predict that Chesapeake Energy Co. will post 5 EPS for the current fiscal year.

Chesapeake Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Thursday, May 18th will be given a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend is Wednesday, May 17th. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.44. Chesapeake Energy’s dividend payout ratio is 4.58%.

Chesapeake Energy Company 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.