Miracle Mile Advisors LLC Buys New Shares in Chesapeake Energy Corporation (NASDAQ:EXE)

Miracle Mile Advisors LLC bought a new stake in Chesapeake Energy Corporation (NASDAQ:EXE) during the first quarter, HoldingsChannel reports. The firm bought 13,813 shares of the company’s stock, valued at approximately $1,538,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EXE. Rhumbline Advisers acquired a new stake in shares of Chesapeake Energy in the first quarter valued at about $43,592,000. GAMMA Investing LLC bought a new position in Chesapeake Energy during the first quarter worth about $36,507,000. Vest Financial LLC bought a new position in Chesapeake Energy during the first quarter worth about $11,682,000. Woodstock Corp bought a new position in Chesapeake Energy during the first quarter worth about $5,646,000. Finally, Czech National Bank bought a new position in Chesapeake Energy during the first quarter worth about $5,377,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Trading Down 2.1%

Shares of EXE stock opened at $114.94 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.20. The stock has a market cap of $27.35 billion, a P/E ratio of 70.95 and a beta of 0.49. The stock has a 50 day simple moving average of $109.26 and a 200 day simple moving average of $104.75. Chesapeake Energy Corporation has a 1 year low of $81.66 and a 1 year high of $120.04.

Chesapeake Energy (NASDAQ:EXE) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.17. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Chesapeake Energy had a return on equity of 2.74% and a net margin of 6.07%. On average, research analysts predict that Chesapeake Energy Corporation will post 1.33 earnings per share for the current fiscal year.

Chesapeake Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 15th were paid a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, May 15th. Chesapeake Energy’s dividend payout ratio (DPR) is currently -42.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. KeyCorp upgraded Chesapeake Energy from a “sector weight” rating to an “overweight” rating and set a $130.00 price target for the company in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on Chesapeake Energy from $115.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. TD Cowen upgraded Chesapeake Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $108.00 to $116.00 in a report on Tuesday, April 8th. Truist Financial reduced their price target on Chesapeake Energy from $133.00 to $131.00 and set a “buy” rating for the company in a report on Monday, March 17th. Finally, Mizuho lifted their price target on Chesapeake Energy from $136.00 to $141.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $126.79.

About Chesapeake Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.