Mizuho Trims Chesapeake Energy (NASDAQ:CHK) Target Price to $105.00

Chesapeake Energy (NASDAQ:CHK) had its target price decreased by Mizuho from $111.00 to $105.00 in a research report report published on Monday morning, Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on CHK. Wolfe Research began coverage on shares of Chesapeake Energy in a research report on Thursday, July 18th. They issued an outperform rating and a $110.00 target price for the company. KeyCorp assumed coverage on Chesapeake Energy in a research note on Thursday, June 27th. They set a sector weight rating for the company. Scotiabank reduced their price target on Chesapeake Energy from $110.00 to $105.00 and set a sector perform rating on the stock in a report on Tuesday, August 20th. Truist Financial reduced their price target on Chesapeake Energy from $112.00 to $108.00 and set a buy rating on the stock in a report on Monday, July 22nd. Finally, StockNews.com upgraded Chesapeake Energy to a sell rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $105.92.

Chesapeake Energy Stock Performance

Shares of CHK stock opened at $74.51 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $9.76 billion, a P/E ratio of 10.04 and a beta of 0.46. The company’s 50 day moving average price is $74.85 and its two-hundred day moving average price is $82.79. Chesapeake Energy has a 52 week low of $69.12 and a 52 week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business had revenue of $505.00 million during the quarter, compared to analyst estimates of $822.54 million. During the same quarter last year, the business earned $0.64 earnings per share. Chesapeake Energy’s revenue for the quarter was down 73.3% on a year-over-year basis. On average, analysts expect that Chesapeake Energy will post 1.32 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s payout ratio is currently 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aurora Investment Counsel increased its position in shares of Chesapeake Energy by 1.1% during the 1st quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock valued at $1,060,000 after purchasing an additional 135 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Chesapeake Energy by 90.8% during the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares during the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Chesapeake Energy by 1.3% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock valued at $1,142,000 after purchasing an additional 180 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Chesapeake Energy by 1.9% during the 2nd quarter. Toronto Dominion Bank now owns 10,205 shares of the company’s stock valued at $839,000 after purchasing an additional 186 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in shares of Chesapeake Energy by 32.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 900 shares of the company’s stock valued at $80,000 after purchasing an additional 220 shares during the last quarter. 97.93% of the stock is owned by hedge funds and other institutional investors.

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.