Glenorchy Capital Ltd Buys New Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Glenorchy Capital Ltd acquired a new position in Chesapeake Energy Co. (NASDAQ:CHK) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,505 shares of the company’s stock, valued at approximately $731,000.

Other hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI grew its stake in shares of Chesapeake Energy by 5.1% in the third quarter. National Bank of Canada FI now owns 15,856 shares of the company’s stock valued at $1,377,000 after buying an additional 771 shares in the last quarter. AE Wealth Management LLC acquired a new position in shares of Chesapeake Energy during the third quarter valued at $621,000. SG Americas Securities LLC raised its holdings in shares of Chesapeake Energy by 11.1% in the 3rd quarter. SG Americas Securities LLC now owns 2,399 shares of the company’s stock worth $207,000 after purchasing an additional 239 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Chesapeake Energy by 204.0% during the third quarter. State of Alaska Department of Revenue now owns 19,925 shares of the company’s stock valued at $1,717,000 after purchasing an additional 13,370 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in Chesapeake Energy by 4.5% during the third quarter. DAVENPORT & Co LLC now owns 14,112 shares of the company’s stock worth $1,217,000 after buying an additional 602 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Price Performance

Shares of NASDAQ CHK traded up $0.12 during midday trading on Tuesday, hitting $88.53. The stock had a trading volume of 1,186,466 shares, compared to its average volume of 2,047,860. The company has a market capitalization of $11.58 billion, a PE ratio of 5.26 and a beta of 0.52. The stock has a 50 day simple moving average of $85.07 and a 200-day simple moving average of $82.01. Chesapeake Energy Co. has a 1 year low of $72.84 and a 1 year high of $91.03. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.19.

Chesapeake Energy (NASDAQ:CHK) last issued its earnings results on Tuesday, February 20th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.89. Chesapeake Energy had a net margin of 27.74% and a return on equity of 6.74%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $962.95 million. During the same quarter in the previous year, the firm posted $4.22 earnings per share. On average, sell-side analysts expect that Chesapeake Energy Co. will post 2.03 EPS for the current fiscal year.

Chesapeake Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 7th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 2.60%. The ex-dividend date was Wednesday, March 6th. Chesapeake Energy’s dividend payout ratio (DPR) is 13.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Mizuho reaffirmed a “buy” rating and issued a $100.00 target price on shares of Chesapeake Energy in a research note on Thursday, April 11th. Barclays assumed coverage on shares of Chesapeake Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $102.00 price objective for the company. Citigroup raised shares of Chesapeake Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $82.00 to $95.00 in a research note on Friday, January 12th. Scotiabank boosted their price target on Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, Jefferies Financial Group decreased their price objective on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $103.58.

Chesapeake Energy Company Profile

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.