Brightline Capital Management LLC Buys 16,000 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Brightline Capital Management LLC lifted its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) by 21.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,000 shares of the company’s stock after acquiring an additional 16,000 shares during the quarter. Chesapeake Energy comprises about 18.5% of Brightline Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Brightline Capital Management LLC owned 0.07% of Chesapeake Energy worth $8,399,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Salem Investment Counselors Inc. acquired a new position in Chesapeake Energy in the first quarter worth approximately $32,000. First Personal Financial Services acquired a new position in Chesapeake Energy in the third quarter worth approximately $33,000. Edmond DE Rothschild Holding S.A. acquired a new position in Chesapeake Energy in the second quarter worth approximately $36,000. CoreCap Advisors LLC acquired a new position in Chesapeake Energy in the second quarter worth approximately $37,000. Finally, Covestor Ltd boosted its stake in Chesapeake Energy by 292.0% in the 1st quarter. Covestor Ltd now owns 439 shares of the company’s stock worth $38,000 after purchasing an additional 327 shares during the period.

Chesapeake Energy Stock Down 1.6 %

Shares of CHK stock traded down $1.18 on Friday, hitting $72.07. The company’s stock had a trading volume of 2,739,404 shares, compared to its average volume of 1,752,057. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 1.00. Chesapeake Energy Co. has a fifty-two week low of $69.68 and a fifty-two week high of $107.31. The firm’s fifty day moving average price is $83.59 and its 200-day moving average price is $93.06. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 2.25, a P/E/G ratio of 0.48 and a beta of 0.68.

Chesapeake Energy (NASDAQ:CHK – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.96 by $1.26. Chesapeake Energy had a net margin of 42.03% and a return on equity of 37.70%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business earned $2.39 EPS. Research analysts anticipate that Chesapeake Energy Co. will post 6.43 EPS for the current year.

Chesapeake Energy Cuts Dividend

The firm also recently disclosed a None dividend, which will be paid on Thursday, March 23rd. Investors of record on Tuesday, March 7th will be paid a $1.29 dividend. This represents a dividend yield of 2.4%. The ex-dividend date is Monday, March 6th. Chesapeake Energy’s payout ratio is presently 6.86%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Chesapeake Energy in a research note on Thursday. Mizuho decreased their price objective on shares of Chesapeake Energy from $155.00 to $129.00 in a research note on Friday, March 10th. Citigroup assumed coverage on shares of Chesapeake Energy in a research note on Wednesday, February 8th. They issued a “neutral” rating and a $90.00 price objective for the company. Wells Fargo & Company lowered shares of Chesapeake Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $117.00 to $87.00 in a research note on Thursday, March 2nd. Finally, Credit Suisse Group decreased their price objective on shares of Chesapeake Energy from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, January 19th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.70.

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.