Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) – Seaport Res Ptn cut their Q1 2022 earnings per share estimates for Chesapeake Energy in a report issued on Wednesday, March 30th. Seaport Res Ptn analyst N. Pope now anticipates that the company will earn $2.20 per share for the quarter, down from their previous forecast of $2.21. Chesapeake Energy (NASDAQ:CHK – Get Rating) last posted its earnings results on Tuesday, February 22nd. The company reported $2.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.48 by ($0.09). Chesapeake Energy had a return on equity of 160.87% and a net margin of 108.93%. During the same quarter in the previous year, the business earned ($42.54) EPS.
Several other analysts have also commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Chesapeake Energy in a report on Friday, February 11th. They issued an “overweight” rating and a $85.00 price objective for the company. Johnson Rice upgraded shares of Chesapeake Energy from an “accumulate” rating to a “buy” rating in a report on Monday, December 13th. Zacks Investment Research upgraded shares of Chesapeake Energy from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Monday. Wells Fargo & Company raised their price objective on shares of Chesapeake Energy from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Monday, March 14th. Finally, MKM Partners raised their price objective on shares of Chesapeake Energy from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, January 26th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $87.40.
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Shares of CHK opened at $87.00 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. Chesapeake Energy has a one year low of $41.29 and a one year high of $90.72. The company has a 50-day simple moving average of $74.82 and a two-hundred day simple moving average of $67.71.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new stake in Chesapeake Energy during the 4th quarter valued at $33,000. Smith Group Asset Management LLC purchased a new stake in Chesapeake Energy during the 4th quarter valued at $34,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Chesapeake Energy during the 4th quarter valued at $39,000. Saltoro Capital LP purchased a new stake in Chesapeake Energy during the 4th quarter valued at $54,000. Finally, Loomis Sayles & Co. L P raised its stake in Chesapeake Energy by 27.9% during the 4th quarter. Loomis Sayles & Co. L P now owns 867 shares of the company’s stock valued at $56,000 after buying an additional 189 shares during the last quarter.
Chesapeake Energy announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 2nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 14% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 22nd. Investors of record on Monday, March 7th were given a dividend of $0.438 per share. The ex-dividend date of this dividend was Friday, March 4th. This represents a $1.75 annualized dividend and a dividend yield of 2.01%. This is an increase from Chesapeake Energy’s previous quarterly dividend of $0.44.
About Chesapeake Energy (Get Rating)
Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the United States. 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; and the liquids-rich resource play in the Eagle Ford Shale in South Texas.
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