Shares of Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) have received a consensus rating of “Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Eleven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $92.20.
Several analysts have issued reports on CHK shares. Zacks Investment Research upgraded Chesapeake Energy from a “hold” rating to a “strong-buy” rating and set a $94.00 target price on the stock in a research note on Monday, May 2nd. Royal Bank of Canada upped their price target on Chesapeake Energy from $88.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 8th. MKM Partners increased their price target on Chesapeake Energy from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, January 26th. Wolfe Research raised their price target on Chesapeake Energy from $104.00 to $111.00 and gave the company an “outperform” rating in a report on Tuesday, April 5th. Finally, Wells Fargo & Company lifted their price target on Chesapeake Energy from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, March 14th.
CHK stock traded up $1.03 during midday trading on Friday, reaching $100.28. The stock had a trading volume of 55,134 shares, compared to its average volume of 1,876,104. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of -31.21, a PEG ratio of 1.03 and a beta of 0.17. Chesapeake Energy has a twelve month low of $48.19 and a twelve month high of $102.20. The business has a fifty day simple moving average of $88.54 and a two-hundred day simple moving average of $74.85. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.52.
The business also recently disclosed a None dividend, which will be paid on Thursday, June 2nd. Investors of record on Thursday, May 19th will be given a dividend of $2.34 per share. The ex-dividend date is Wednesday, May 18th. This represents a dividend yield of 2.1%. This is a boost from Chesapeake Energy’s previous None dividend of $0.44. Chesapeake Energy’s dividend payout ratio (DPR) is presently -62.89%.
In other Chesapeake Energy news, major shareholder Holdings L.P. Blackstone III sold 186,085 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $96.25, for a total transaction of $17,910,681.25. Following the sale, the insider now directly owns 4,156,830 shares in the company, valued at approximately $400,094,887.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 201,750 shares of company stock valued at $19,399,901 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates purchased a new position in Chesapeake Energy during the 3rd quarter worth $257,000. Citigroup Inc. lifted its stake in shares of Chesapeake Energy by 183.6% in the third quarter. Citigroup Inc. now owns 18,398 shares of the company’s stock valued at $1,133,000 after purchasing an additional 11,911 shares during the period. ProShare Advisors LLC lifted its stake in shares of Chesapeake Energy by 80.8% in the fourth quarter. ProShare Advisors LLC now owns 22,908 shares of the company’s stock valued at $1,478,000 after purchasing an additional 10,241 shares during the period. Wolf Hill Capital Management LP acquired a new position in Chesapeake Energy during the third quarter worth about $28,653,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Chesapeake Energy in the fourth quarter valued at approximately $3,556,000.
Chesapeake Energy Company Profile (Get Rating)
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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