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

Greatmark Investment Partners Inc. trimmed its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 20.4% in the 4th quarter, HoldingsChannel reports. The fund 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 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CHK. Deutsche Bank AG boosted its position in shares of Chesapeake Energy by 14.7% during the third quarter. Deutsche Bank AG now owns 261,978 shares of the company’s stock worth $22,590,000 after buying an additional 33,660 shares during the period. State of Alaska Department of Revenue boosted its holdings in Chesapeake Energy by 204.0% in the third quarter. State of Alaska Department of Revenue now owns 19,925 shares of the company’s stock valued at $1,717,000 after purchasing an additional 13,370 shares during the period. Townsquare Capital LLC boosted its holdings in Chesapeake Energy by 6.6% in the third quarter. Townsquare Capital LLC now owns 13,104 shares of the company’s stock valued at $1,130,000 after purchasing an additional 816 shares during the period. Yousif Capital Management LLC purchased a new position in Chesapeake Energy in the third quarter valued at $4,510,000. Finally, Cottage Street Advisors LLC purchased a new position in Chesapeake Energy in the third quarter valued at $1,693,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Energy Stock Performance

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

Chesapeake Energy (NASDAQ:CHK) last posted its earnings results on Tuesday, February 20th. The company reported $1.31 EPS for the quarter, topping 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 analysts’ expectations of $962.95 million. During the same quarter in the previous year, the firm earned $4.22 earnings per share. On average, sell-side analysts expect that Chesapeake Energy Co. will post 1.76 EPS for the current fiscal year.

Chesapeake Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, March 7th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Wednesday, March 6th. Chesapeake Energy’s dividend payout ratio (DPR) is currently 13.66%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CHK shares. UBS Group lifted their target price on Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Citigroup upgraded Chesapeake Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $82.00 to $95.00 in a report 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 for the company in a report on Wednesday, April 10th. Mizuho reiterated a “buy” rating and issued a $100.00 target price on shares of Chesapeake Energy in a report on Thursday, April 11th. Finally, Scotiabank raised their price target on Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $104.73.

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.