Pictet Asset Management SA Raises Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Pictet Asset Management SA raised its holdings in Chesapeake Energy Co. (NASDAQ:CHKGet Rating) by 206.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 344,332 shares of the company’s stock after acquiring an additional 232,063 shares during the period. Pictet Asset Management SA’s holdings in Chesapeake Energy were worth $22,216,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First Mercantile Trust Co. grew its stake in shares of Chesapeake Energy by 30.6% during the 3rd quarter. First Mercantile Trust Co. now owns 1,360 shares of the company’s stock worth $84,000 after purchasing an additional 319 shares during the period. Xponance Inc. boosted its holdings in Chesapeake Energy by 7.2% during the fourth quarter. Xponance Inc. now owns 4,980 shares of the company’s stock worth $321,000 after buying an additional 334 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Chesapeake Energy during the fourth quarter worth $33,000. Smith Group Asset Management LLC acquired a new stake in Chesapeake Energy during the fourth quarter valued at $34,000. Finally, Arizona State Retirement System increased its holdings in Chesapeake Energy by 2.7% in the fourth quarter. Arizona State Retirement System now owns 20,542 shares of the company’s stock valued at $1,325,000 after buying an additional 539 shares in the last quarter.

Shares of CHK stock opened at $90.48 on Wednesday. Chesapeake Energy Co. has a fifty-two week low of $48.19 and a fifty-two week high of $97.61. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.34 and a current ratio of 0.34. The stock’s fifty day moving average is $86.76 and its two-hundred day moving average is $73.78.

Chesapeake Energy (NASDAQ:CHKGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.66. The business had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $1.34 billion. Chesapeake Energy had a negative net margin of 2.03% and a positive return on equity of 27.28%. Chesapeake Energy’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Chesapeake Energy Co. will post 13.37 earnings per share for the current year.

The firm also recently announced a None dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Thursday, May 19th will be paid a $2.34 dividend. This represents a yield of 2.1%. This is a positive change from Chesapeake Energy’s previous None dividend of $0.44. The ex-dividend date of this dividend is Wednesday, May 18th. Chesapeake Energy’s dividend payout ratio (DPR) is -55.03%.

In related news, major shareholder Holdings L.P. Blackstone III sold 6,965 shares of Chesapeake Energy stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $95.05, for a total transaction of $662,023.25. Following the transaction, the insider now owns 4,217,146 shares in the company, valued at $400,839,727.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 201,750 shares of company stock worth $19,399,901.

A number of equities research analysts have recently commented 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 report on Monday, May 2nd. Wells Fargo & Company boosted their price objective on Chesapeake Energy from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, March 14th. Royal Bank of Canada upped their target price on Chesapeake Energy from $88.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 8th. TheStreet cut shares of Chesapeake Energy from a “c-” rating to a “d” rating in a research note on Thursday, May 5th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Chesapeake Energy in a research report on Friday, February 11th. They set an “overweight” rating and a $85.00 price objective for the company. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Chesapeake Energy currently has an average rating of “Buy” and a consensus price target of $89.00.

Chesapeake Energy 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.

See Also

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Institutional Ownership by Quarter for Chesapeake Energy (NASDAQ:CHK)

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