Brokers Issue Forecasts for Chesapeake Energy Co.’s Q2 2024 Earnings (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Equities researchers at Capital One Financial dropped their Q2 2024 EPS estimates for Chesapeake Energy in a note issued to investors on Wednesday, May 1st. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.30. The consensus estimate for Chesapeake Energy’s current full-year earnings is $1.19 per share. Capital One Financial also issued estimates for Chesapeake Energy’s Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $1.02 EPS and FY2025 earnings at $3.95 EPS.

A number of other analysts have also issued reports on the stock. Benchmark dropped their price objective on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Scotiabank lifted their price objective on shares of Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. KeyCorp began coverage on shares of Chesapeake Energy in a research note on Thursday, April 4th. They set a “sector weight” rating on the stock. Jefferies Financial Group dropped their price target 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, UBS Group lifted their price target on shares of Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $105.83.

Chesapeake Energy Trading Up 2.8 %

Shares of CHK stock opened at $89.08 on Monday. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 12.01 and a beta of 0.51. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. Chesapeake Energy has a fifty-two week low of $72.84 and a fifty-two week high of $93.58. The firm’s 50 day moving average price is $86.65 and its two-hundred day moving average price is $82.05.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share 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 analyst estimates of $674.99 million. Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. During the same period last year, the firm earned $1.87 earnings per share.

Hedge Funds Weigh In On Chesapeake Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Chesapeake Energy by 1.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 9,439 shares of the company’s stock valued at $716,000 after acquiring an additional 151 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of Chesapeake Energy by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,761 shares of the company’s stock valued at $289,000 after acquiring an additional 154 shares during the period. Forum Financial Management LP boosted its holdings in shares of Chesapeake Energy by 6.2% during the third quarter. Forum Financial Management LP now owns 2,812 shares of the company’s stock valued at $242,000 after acquiring an additional 163 shares during the period. Signaturefd LLC lifted its holdings in Chesapeake Energy by 16.5% in the fourth quarter. Signaturefd LLC now owns 1,250 shares of the company’s stock worth $96,000 after purchasing an additional 177 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in Chesapeake Energy by 90.8% in the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Wednesday, May 15th. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s payout ratio is currently 31.00%.

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.