Federated Hermes Inc. Sells 1,894 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Federated Hermes Inc. reduced its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 14.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,129 shares of the company’s stock after selling 1,894 shares during the quarter. Federated Hermes Inc.’s holdings in Chesapeake Energy were worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHK. Gladius Capital Management LP bought a new position in Chesapeake Energy in the third quarter valued at about $36,000. Adirondack Trust Co. purchased a new stake in shares of Chesapeake Energy during the third quarter worth about $43,000. Allworth Financial LP grew its position in shares of Chesapeake Energy by 160.7% during the fourth quarter. Allworth Financial LP now owns 730 shares of the company’s stock worth $56,000 after purchasing an additional 450 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Chesapeake Energy by 11.1% during the third quarter. SG Americas Securities LLC now owns 2,399 shares of the company’s stock worth $207,000 after purchasing an additional 239 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in Chesapeake Energy by 7.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,803 shares of the company’s stock valued at $242,000 after buying an additional 199 shares in the last quarter. 97.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CHK. Citigroup upgraded Chesapeake Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $82.00 to $95.00 in a report on Friday, January 12th. Mizuho raised their price target on Chesapeake Energy from $100.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group lowered their price objective on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Benchmark lowered their price objective on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Finally, Truist Financial lowered their price objective on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.83.

Chesapeake Energy Price Performance

Shares of CHK stock opened at $86.68 on Thursday. Chesapeake Energy Co. has a 52-week low of $72.84 and a 52-week high of $93.58. 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 firm has a market capitalization of $11.34 billion, a P/E ratio of 5.15 and a beta of 0.52. The stock has a 50 day moving average price of $86.43 and a 200 day moving average price of $82.10.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $674.99 million. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. During the same period in the prior year, the business posted $1.87 earnings per share. As a group, sell-side analysts predict that Chesapeake Energy Co. will post 1.76 earnings per share for the current year.

Chesapeake Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 7th were issued a dividend of $0.575 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $2.30 annualized dividend and a yield of 2.65%. Chesapeake Energy’s payout ratio is currently 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.