Oppenheimer & Co. Inc. Reduces Stock Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Oppenheimer & Co. Inc. reduced its stake in shares of Chesapeake Energy Co. (NASDAQ:CHKFree Report) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,288 shares of the company’s stock after selling 1,056 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Chesapeake Energy were worth $1,099,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Chesapeake Energy by 2.0% during the third quarter. Vanguard Group Inc. now owns 12,852,961 shares of the company’s stock valued at $1,108,311,000 after buying an additional 257,880 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Chesapeake Energy by 5.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,317,920 shares of the company’s stock worth $332,221,000 after acquiring an additional 213,235 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Chesapeake Energy by 18.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,723,456 shares of the company’s stock worth $234,844,000 after acquiring an additional 426,560 shares in the last quarter. FMR LLC lifted its stake in shares of Chesapeake Energy by 4.8% in the 3rd quarter. FMR LLC now owns 2,448,847 shares of the company’s stock valued at $211,164,000 after purchasing an additional 111,294 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Chesapeake Energy by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,958,837 shares of the company’s stock valued at $150,723,000 after purchasing an additional 265,853 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Chesapeake Energy Stock Up 0.7 %

Shares of Chesapeake Energy stock opened at $88.94 on Tuesday. 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 $89.31 and its 200 day moving average is $83.03. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 11.99 and a beta of 0.50.

Chesapeake Energy (NASDAQ:CHKGet Free Report) 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). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company earned $1.87 earnings per share. Research analysts anticipate that Chesapeake Energy Co. will post 0.98 EPS for the current year.

Chesapeake Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th were 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 3.22%. The ex-dividend date was Wednesday, May 15th. Chesapeake Energy’s payout ratio is currently 31.00%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Stephens raised their price objective on Chesapeake Energy from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Jefferies Financial Group lowered their target price on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Benchmark cut their price target on Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barclays began coverage on Chesapeake Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 target price on the stock. Finally, KeyCorp assumed coverage on Chesapeake Energy in a report on Thursday, April 4th. They set a “sector weight” rating for the company. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $106.67.

Get Our Latest Research Report on Chesapeake Energy

Chesapeake Energy Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Chesapeake Energy (NASDAQ:CHK)

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