California Public Employees Retirement System Cuts Position in Chesapeake Energy Co. (NASDAQ:CHK)

California Public Employees Retirement System decreased its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,958 shares of the company’s stock after selling 13,275 shares during the period. California Public Employees Retirement System owned about 0.17% of Chesapeake Energy worth $17,385,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Gladius Capital Management LP purchased a new position in shares of Chesapeake Energy during the 3rd quarter valued at about $36,000. Adirondack Trust Co. purchased a new stake in shares of Chesapeake Energy in the third quarter worth $43,000. Allworth Financial LP raised its position in shares of Chesapeake Energy by 160.7% during the 4th quarter. Allworth Financial LP now owns 730 shares of the company’s stock valued at $56,000 after purchasing an additional 450 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in shares of Chesapeake Energy during the 4th quarter valued at $86,000. Finally, Signaturefd LLC boosted its holdings in Chesapeake Energy by 16.5% in the 4th quarter. Signaturefd LLC now owns 1,250 shares of the company’s stock worth $96,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Stock Up 1.0 %

Shares of NASDAQ CHK opened at $92.96 on Tuesday. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 5.52 and a beta of 0.52. Chesapeake Energy Co. has a 12-month low of $72.84 and a 12-month high of $93.15. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $86.18 and its 200-day moving average price is $82.10.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $962.95 million. During the same period last year, the company earned $4.22 EPS. On average, equities research analysts anticipate that Chesapeake Energy Co. will post 1.76 EPS for the current fiscal year.

Chesapeake Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, March 7th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Wednesday, March 6th. Chesapeake Energy’s dividend payout ratio is currently 13.66%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CHK shares. Barclays began coverage on Chesapeake Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 price objective on the stock. Mizuho reaffirmed a “buy” rating and set a $100.00 price objective on shares of Chesapeake Energy in a report on Thursday, April 11th. UBS Group boosted their target price on shares of Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Jefferies Financial Group cut their target price on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, Benchmark decreased their price target on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Chesapeake Energy presently has a consensus rating of “Hold” and a consensus target price of $104.73.

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.