Q2 2024 Earnings Estimate for Chesapeake Energy Co. Issued By Seaport Res Ptn (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Equities researchers at Seaport Res Ptn increased their Q2 2024 EPS estimates for Chesapeake Energy in a research note issued on Thursday, May 23rd. Seaport Res Ptn analyst N. Pope now anticipates that the company will earn $0.38 per share for the quarter, up from their previous forecast of $0.30. The consensus estimate for Chesapeake Energy’s current full-year earnings is $0.98 per share. Seaport Res Ptn also issued estimates for Chesapeake Energy’s Q3 2024 earnings at $0.63 EPS, Q4 2024 earnings at $0.69 EPS, Q1 2025 earnings at $0.90 EPS and Q2 2025 earnings at $0.40 EPS.

Chesapeake Energy (NASDAQ:CHK) last posted its earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.08). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $674.99 million. Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. During the same quarter in the prior year, the company earned $1.87 EPS.

A number of other equities research analysts have also weighed in on CHK. Stephens lifted their price objective on Chesapeake Energy from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Truist Financial dropped their price objective on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, April 5th. UBS Group raised their price objective on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Scotiabank boosted their price target on Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Mizuho lifted their target price on Chesapeake Energy from $101.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Chesapeake Energy presently has an average rating of “Hold” and an average target price of $106.67.

Chesapeake Energy Stock Performance

NASDAQ CHK opened at $89.72 on Monday. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 12.09 and a beta of 0.51. The company has a 50-day simple moving average of $88.72 and a two-hundred day simple moving average of $82.40. 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 12-month low of $72.84 and a 12-month high of $93.58.

Chesapeake Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be paid a $0.715 dividend. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.58. This represents a $2.86 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, May 15th. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Institutional Trading of Chesapeake Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHK. Principal Securities Inc. acquired a new stake in shares of Chesapeake Energy during the 4th quarter worth $28,000. Lindbrook Capital LLC raised its stake in Chesapeake Energy by 90.8% during the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after buying an additional 178 shares in the last quarter. Gladius Capital Management LP acquired a new position in Chesapeake Energy in the third quarter worth $36,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Chesapeake Energy during the 1st quarter valued at about $37,000. Finally, GAMMA Investing LLC bought a new stake in shares of Chesapeake Energy in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

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.