Penn Capital Management Company LLC Raises Stock Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Penn Capital Management Company LLC raised its position in Chesapeake Energy Co. (NASDAQ:CHKGet Rating) by 30.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 37,131 shares of the company’s stock after acquiring an additional 8,722 shares during the quarter. Penn Capital Management Company LLC’s holdings in Chesapeake Energy were worth $3,011,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CHK. Prelude Capital Management LLC raised its holdings in Chesapeake Energy by 100.2% during the first quarter. Prelude Capital Management LLC now owns 10,014 shares of the company’s stock worth $871,000 after purchasing an additional 6,175,883 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Chesapeake Energy by 15.7% in the 1st quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock valued at $974,127,000 after acquiring an additional 1,517,281 shares during the period. Clearbridge Investments LLC increased its stake in Chesapeake Energy by 4,616.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,396,744 shares of the company’s stock worth $121,517,000 after buying an additional 1,367,131 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Chesapeake Energy by 1,578.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,243,663 shares of the company’s stock worth $108,199,000 after buying an additional 1,169,567 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Chesapeake Energy by 78.9% during the 1st quarter. Bank of New York Mellon Corp now owns 2,605,022 shares of the company’s stock worth $226,635,000 after acquiring an additional 1,148,717 shares in the last quarter.

Wall Street Analyst Weigh In

CHK has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Chesapeake Energy in a research report on Wednesday, October 19th. They set a “buy” rating and a $150.00 price target on the stock. The Goldman Sachs Group upped their target price on shares of Chesapeake Energy from $106.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. Royal Bank of Canada upped their target price on shares of Chesapeake Energy from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Finally, StockNews.com initiated coverage on shares of Chesapeake Energy in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.67.

Chesapeake Energy Price Performance

Shares of NASDAQ:CHK opened at $94.11 on Friday. The company has a 50 day moving average of $99.60 and a 200 day moving average of $96.89. The stock has a market cap of $12.61 billion, a P/E ratio of 4.90, a P/E/G ratio of 0.93 and a beta of 0.70. Chesapeake Energy Co. has a 12 month low of $58.83 and a 12 month high of $107.31. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.43.

Chesapeake Energy (NASDAQ:CHKGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $5.06 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $0.58. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $1.83 billion. Chesapeake Energy had a net margin of 26.07% and a return on equity of 37.97%. As a group, sell-side analysts forecast that Chesapeake Energy Co. will post 16.47 EPS for the current fiscal year.

Chesapeake Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th were given a dividend of $3.16 per share. This is an increase from Chesapeake Energy’s previous None dividend of $2.32. This represents a yield of 2.1%. The ex-dividend date was Monday, November 14th. Chesapeake Energy’s payout ratio is presently 11.46%.

About Chesapeake Energy

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

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