Chesapeake Energy Co. (NASDAQ:CHK) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,217 shares of the company’s stock after selling 154 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Chesapeake Energy were worth $676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Chesapeake Energy by 705.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock valued at $2,402,000 after acquiring an additional 25,600 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Chesapeake Energy during the 1st quarter valued at $1,006,000. Russell Investments Group Ltd. raised its stake in shares of Chesapeake Energy by 66.4% in the 1st quarter. Russell Investments Group Ltd. now owns 119,470 shares of the company’s stock worth $10,612,000 after buying an additional 47,658 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Chesapeake Energy in the first quarter valued at $37,000. Finally, Wedge Capital Management L L P NC boosted its stake in Chesapeake Energy by 16.2% during the second quarter. Wedge Capital Management L L P NC now owns 284,263 shares of the company’s stock valued at $23,364,000 after buying an additional 39,734 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CHK has been the topic of several research reports. KeyCorp started coverage on shares of Chesapeake Energy in a research report 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. Roth Mkm assumed coverage on shares of Chesapeake Energy in a report on Friday, September 27th. They set a “buy” rating and a $92.00 target price for the company. Truist Financial dropped their price target on Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Scotiabank reduced their price objective on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.92.

Chesapeake Energy Stock Performance

NASDAQ:CHK opened at $81.46 on Wednesday. The stock has a market cap of $10.68 billion, a PE ratio of 10.98 and a beta of 0.47. Chesapeake Energy Co. has a fifty-two week low of $69.12 and a fifty-two week high of $93.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. The stock’s 50-day moving average is $75.94 and its two-hundred day moving average is $82.18.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business’s revenue for the quarter was down 73.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, equities research analysts forecast that Chesapeake Energy Co. will post 1.43 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were given a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a yield of 2.82%. Chesapeake Energy’s payout ratio is 31.00%.

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.