Q2 2023 EPS Estimates for Chesapeake Energy Co. (NASDAQ:CHK) Increased by Analyst

Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) – Equities researchers at Seaport Res Ptn upped their Q2 2023 earnings estimates for Chesapeake Energy in a report issued on Thursday, May 18th. Seaport Res Ptn analyst N. Pope now forecasts that the company will post earnings per share of $0.91 for the quarter, up from their prior forecast of $0.88. The consensus estimate for Chesapeake Energy’s current full-year earnings is $5.00 per share.

Chesapeake Energy (NASDAQ:CHK – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.32. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $1.25 billion. Chesapeake Energy had a net margin of 50.00% and a return on equity of 29.75%. During the same quarter last year, the business posted $3.09 EPS.

CHK has been the subject of several other research reports. TheStreet raised shares of Chesapeake Energy from a “c+” rating to a “b-” rating in a research note on Tuesday, May 9th. Benchmark reduced their price target on shares of Chesapeake Energy from $112.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, April 12th. StockNews.com cut shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Mizuho reduced their target price on shares of Chesapeake Energy from $155.00 to $129.00 in a report on Friday, March 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Chesapeake Energy from $106.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Chesapeake Energy has an average rating of “Moderate Buy” and an average price target of $110.54.

Chesapeake Energy Stock Performance

Shares of CHK opened at $81.22 on Monday. The company’s fifty day moving average price is $78.43 and its 200 day moving average price is $83.01. Chesapeake Energy has a one year low of $69.68 and a one year high of $107.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $10.87 billion, a PE ratio of 1.69, a price-to-earnings-growth ratio of 0.69 and a beta of 0.65.

Institutional Trading of Chesapeake Energy

Several hedge funds have recently modified their holdings of CHK. Vanguard Group Inc. grew its position in shares of 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 buying an additional 1,517,281 shares in the last quarter. Wellington Management Group LLP boosted its stake in Chesapeake Energy by 3.5% during the first quarter. Wellington Management Group LLP now owns 4,936,328 shares of the company’s stock worth $375,358,000 after buying an additional 166,911 shares during the last quarter. Prudential Financial Inc. raised its position in Chesapeake Energy by 0.3% in the first quarter. Prudential Financial Inc. now owns 2,918,883 shares of the company’s stock valued at $221,952,000 after purchasing an additional 9,586 shares during the period. Kimmeridge Energy Management Company LLC raised its holdings in shares of Chesapeake Energy by 5.8% in the 1st quarter. Kimmeridge Energy Management Company LLC now owns 2,714,693 shares of the company’s stock valued at $206,425,000 after buying an additional 150,000 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in Chesapeake Energy by 26.3% during the 4th quarter. Clearbridge Investments LLC now owns 2,662,207 shares of the company’s stock worth $251,232,000 after purchasing an additional 554,395 shares during the period.

Chesapeake Energy Increases Dividend

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