Benchmark Cuts Chesapeake Energy (NASDAQ:CHK) Price Target to $93.00

Chesapeake Energy (NASDAQ:CHK) had its target price trimmed by Benchmark from $107.00 to $93.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays began 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. Mizuho raised their price target on shares of Chesapeake Energy from $100.00 to $101.00 and gave the company a buy rating in a research note on Wednesday. Citigroup upgraded Chesapeake Energy from a neutral rating to a buy rating and boosted their price objective for the stock from $82.00 to $95.00 in a research note on Friday, January 12th. Jefferies Financial Group decreased their target price on Chesapeake Energy from $118.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, April 10th. Finally, UBS Group boosted their price target on Chesapeake Energy from $92.00 to $94.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $105.83.

Chesapeake Energy Stock Performance

Chesapeake Energy stock traded down $0.12 during mid-day trading on Thursday, hitting $86.67. The company had a trading volume of 2,836,734 shares, compared to its average volume of 1,684,417. The company has a current ratio of 2.33, a quick ratio of 1.99 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of 11.68 and a beta of 0.51. The company’s fifty day moving average is $86.65 and its 200-day moving average is $82.15. Chesapeake Energy has a 12-month low of $72.84 and a 12-month high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.08). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $674.99 million. Chesapeake Energy had a return on equity of 4.87% and a net margin of 16.42%. During the same quarter last year, the company posted $1.87 EPS. Equities research analysts predict that Chesapeake Energy will post 1.56 EPS for the current year.

Chesapeake Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 3.30%. This is a positive change from Chesapeake Energy’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, May 15th. Chesapeake Energy’s payout ratio is presently 31.00%.

Institutional Investors Weigh In On Chesapeake Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHK. SG Americas Securities LLC grew its holdings in shares of Chesapeake Energy by 11.1% during 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 during the period. Xponance Inc. boosted its stake in Chesapeake Energy by 215.0% during the third quarter. Xponance Inc. now owns 14,072 shares of the company’s stock worth $1,213,000 after buying an additional 9,604 shares during the period. Raymond James & Associates increased its position in shares of Chesapeake Energy by 3.3% during the third quarter. Raymond James & Associates now owns 185,535 shares of the company’s stock valued at $15,999,000 after acquiring an additional 5,857 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Chesapeake Energy by 4.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,607 shares of the company’s stock valued at $311,000 after acquiring an additional 165 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Chesapeake Energy by 15.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,235,870 shares of the company’s stock worth $279,029,000 after acquiring an additional 427,181 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

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.