Chesapeake Energy (NASDAQ:CHK) Price Target Cut to $96.00 by Analysts at Truist Financial

Chesapeake Energy (NASDAQ:CHK) had its price target lowered by Truist Financial from $108.00 to $96.00 in a research note issued to investors on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the stock. KeyCorp started coverage on shares of Chesapeake Energy in a research note on Thursday, June 27th. They issued a sector weight rating on the stock. StockNews.com raised shares of Chesapeake Energy to a sell rating in a research note on Wednesday, August 14th. UBS Group cut their price target on Chesapeake Energy from $93.00 to $85.00 and set a neutral rating on the stock in a report on Wednesday, September 18th. Mizuho decreased their price objective on Chesapeake Energy from $111.00 to $105.00 and set an outperform rating for the company in a report on Monday, September 16th. Finally, Wolfe Research began coverage on Chesapeake Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $99.92.

Chesapeake Energy Price Performance

The company has a market cap of $10.68 billion, a PE ratio of 10.98 and a beta of 0.46. Chesapeake Energy has a 1 year low of $69.12 and a 1 year high of $93.58. 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 50 day moving average price of $74.47 and a two-hundred day moving average price of $82.59.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The business had revenue of $505.00 million during the quarter, compared to the consensus estimate of $822.54 million. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue was down 73.3% compared to the same quarter last year. On average, equities research analysts expect that Chesapeake Energy will post 1.43 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of ∞. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is currently 31.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Chesapeake Energy by 705.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock worth $2,402,000 after acquiring an additional 25,600 shares during the period. Quantbot Technologies LP bought a new position in Chesapeake Energy during the first quarter worth $1,006,000. Russell Investments Group Ltd. increased its holdings in shares of Chesapeake Energy by 66.4% in the first quarter. Russell Investments Group Ltd. now owns 119,470 shares of the company’s stock valued at $10,612,000 after purchasing an additional 47,658 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Chesapeake Energy in the first quarter valued at about $37,000. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Chesapeake Energy by 16.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 284,263 shares of the company’s stock worth $23,364,000 after buying an additional 39,734 shares during the last quarter. Institutional investors own 97.93% of the company’s stock.

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.