Capital One Financial Comments on Chesapeake Energy Co.’s Q1 2024 Earnings (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Analysts at Capital One Financial raised their Q1 2024 earnings per share (EPS) estimates for shares of Chesapeake Energy in a research note issued on Tuesday, April 9th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $0.72 for the quarter, up from their previous forecast of $0.50. The consensus estimate for Chesapeake Energy’s current full-year earnings is $3.01 per share. Capital One Financial also issued estimates for Chesapeake Energy’s FY2024 earnings at $2.03 EPS.

Other analysts also recently issued research reports about the company. Mizuho reiterated a “buy” rating and set a $100.00 price target on shares of Chesapeake Energy in a research note on Thursday. TheStreet downgraded Chesapeake Energy from a “b-” rating to a “c+” rating in a research note on Friday, December 29th. Citigroup upgraded Chesapeake Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $82.00 to $95.00 in a research note on Friday, January 12th. Johnson Rice downgraded Chesapeake Energy from a “buy” rating to an “accumulate” rating in a research note on Thursday, December 14th. Finally, Truist Financial lowered their target price on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $103.58.

Chesapeake Energy Stock Down 2.2 %

Chesapeake Energy stock opened at $87.98 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.99 and a current ratio of 1.99. The business’s 50-day simple moving average is $83.26 and its two-hundred day simple moving average is $81.86. The company has a market cap of $11.51 billion, a PE ratio of 5.22 and a beta of 0.52. Chesapeake Energy has a fifty-two week low of $72.84 and a fifty-two week high of $91.03.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Tuesday, February 20th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.89. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $962.95 million. During the same period in the previous year, the business earned $4.22 EPS.

Hedge Funds Weigh In On Chesapeake Energy

A number of large investors have recently bought and sold shares of CHK. Prelude Capital Management LLC raised its holdings in Chesapeake Energy by 100.2% in the 1st quarter. Prelude Capital Management LLC now owns 10,014 shares of the company’s stock worth $871,000 after purchasing an additional 6,175,883 shares during the period. Vanguard Group Inc. raised its holdings in shares of Chesapeake Energy by 15.7% during the first quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock valued at $974,127,000 after acquiring an additional 1,517,281 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Chesapeake Energy by 3,273.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,462,502 shares of the company’s stock valued at $138,016,000 after acquiring an additional 1,419,143 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Chesapeake Energy by 4,616.7% during the first quarter. Clearbridge Investments LLC now owns 1,396,744 shares of the company’s stock valued at $121,517,000 after acquiring an additional 1,367,131 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Chesapeake Energy by 1,578.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,243,663 shares of the company’s stock valued at $108,199,000 after acquiring an additional 1,169,567 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, March 7th were issued a $0.575 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $2.30 dividend on an annualized basis and a yield of 2.61%. Chesapeake Energy’s payout ratio is 13.66%.

About Chesapeake Energy

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. 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.