Greatmark Investment Partners Inc. Trims Stock Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Greatmark Investment Partners Inc. decreased its stake in Chesapeake Energy Co. (NASDAQ:CHK) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,948 shares of the company’s stock after selling 5,370 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Chesapeake Energy were worth $1,612,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Chesapeake Energy during the third quarter worth about $36,000. Adirondack Trust Co. purchased a new stake in shares of Chesapeake Energy during the third quarter worth about $43,000. GAMMA Investing LLC purchased a new stake in shares of Chesapeake Energy during the fourth quarter worth about $40,000. Allworth Financial LP grew its position in shares of Chesapeake Energy by 160.7% during the fourth quarter. Allworth Financial LP now owns 730 shares of the company’s stock worth $56,000 after purchasing an additional 450 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Chesapeake Energy during the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays assumed coverage on Chesapeake Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $102.00 target price for the company. Truist Financial dropped their price target on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Jefferies Financial Group dropped their price target on Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. UBS Group increased their price target on Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Finally, Citigroup raised Chesapeake Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $82.00 to $95.00 in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $104.73.

Chesapeake Energy Trading Up 0.7 %

CHK traded up $0.62 during trading on Monday, hitting $92.68. 1,034,517 shares of the stock were exchanged, compared to its average volume of 2,018,433. The firm has a 50 day simple moving average of $85.90 and a 200 day simple moving average of $82.07. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 5.50 and a beta of 0.52. Chesapeake Energy Co. has a 1 year low of $72.84 and a 1 year high of $93.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.99 and a current ratio of 1.99.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.89. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $962.95 million. During the same period last year, the business posted $4.22 EPS. As a group, equities analysts expect that Chesapeake Energy Co. will post 1.76 EPS for the current year.

Chesapeake Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, March 7th were issued a $0.575 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.48%. Chesapeake Energy’s dividend payout ratio is presently 13.66%.

Chesapeake Energy 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.