Truist Financial Corp Trims Stake in Chesapeake Energy Co. (NASDAQ:CHK)

Truist Financial Corp cut its stake in Chesapeake Energy Co. (NASDAQ:CHK) by 49.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,661 shares of the company’s stock after selling 37,370 shares during the period. Truist Financial Corp’s holdings in Chesapeake Energy were worth $2,975,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Gladius Capital Management LP bought a new stake in shares of Chesapeake Energy during the third quarter valued at approximately $36,000. GAMMA Investing LLC bought a new stake in shares of Chesapeake Energy during the 4th quarter valued at $40,000. Adirondack Trust Co. purchased a new stake in shares of Chesapeake Energy in the 3rd quarter worth about $43,000. Allworth Financial LP increased its stake in shares of Chesapeake Energy by 160.7% in the 4th quarter. Allworth Financial LP now owns 730 shares of the company’s stock worth $56,000 after acquiring an additional 450 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Chesapeake Energy during the 4th quarter valued at about $86,000. 97.93% of the stock is owned by institutional investors.

Chesapeake Energy Stock Down 0.5 %

Shares of Chesapeake Energy stock opened at $88.62 on Wednesday. Chesapeake Energy Co. has a twelve month low of $72.84 and a twelve month high of $93.58. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $86.79 and its 200 day moving average is $82.05. The company has a market cap of $11.61 billion, a price-to-earnings ratio of 11.94 and a beta of 0.51.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.08). Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $674.99 million. During the same period in the previous year, the company earned $1.87 earnings per share. Research analysts anticipate that Chesapeake Energy Co. will post 1.19 EPS for the current year.

Chesapeake Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.715 per share. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.58. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Wednesday, May 15th. Chesapeake Energy’s payout ratio is currently 31.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CHK shares. Scotiabank upped their price objective on shares of Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Barclays began coverage on Chesapeake Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $102.00 price objective for the company. Truist Financial dropped their target price on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Jefferies Financial Group lowered their price target on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, Benchmark cut 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 report on Thursday, May 2nd. One investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $105.83.

Chesapeake Energy Profile

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.