Readystate Asset Management LP Boosts Stock Position in Chesapeake Energy Co. (NASDAQ:CHK)

Readystate Asset Management LP grew its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 71.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,370 shares of the company’s stock after buying an additional 8,070 shares during the period. Readystate Asset Management LP’s holdings in Chesapeake Energy were worth $1,490,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Prelude Capital Management LLC raised its stake in Chesapeake Energy by 100.2% during the 1st quarter. Prelude Capital Management LLC now owns 10,014 shares of the company’s stock valued at $871,000 after purchasing an additional 6,175,883 shares during the period. Vanguard Group Inc. raised its stake in Chesapeake Energy by 15.7% during the 1st quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock valued at $974,127,000 after purchasing an additional 1,517,281 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Chesapeake Energy by 3,273.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,462,502 shares of the company’s stock valued at $138,016,000 after purchasing an additional 1,419,143 shares during the period. Clearbridge Investments LLC raised its stake in Chesapeake Energy by 4,616.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,396,744 shares of the company’s stock valued at $121,517,000 after purchasing an additional 1,367,131 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Chesapeake Energy by 1,578.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,243,663 shares of the company’s stock valued at $108,199,000 after purchasing an additional 1,169,567 shares during the period. 97.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TheStreet downgraded Chesapeake Energy from a “b-” rating to a “c+” rating in a research note on Friday, December 29th. StockNews.com downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Truist Financial reduced their price objective on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Scotiabank boosted their target price on Chesapeake Energy from $92.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Citigroup raised Chesapeake Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $82.00 to $95.00 in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $103.58.

Chesapeake Energy Stock Down 0.1 %

Shares of CHK traded down $0.12 during trading hours on Wednesday, hitting $87.15. The company had a trading volume of 907,294 shares, compared to its average volume of 2,094,774. The company has a market capitalization of $11.40 billion, a PE ratio of 5.18 and a beta of 0.52. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a one year low of $72.84 and a one year high of $91.03. The company’s fifty day moving average price is $84.20 and its two-hundred day moving average price is $81.91.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings results on Tuesday, February 20th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.42 by $0.89. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $962.95 million. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. During the same period in the previous year, the company posted $4.22 EPS. As a group, equities analysts forecast that Chesapeake Energy Co. will post 2.03 earnings per share for the current fiscal year.

Chesapeake Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, March 7th were given a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, March 6th. Chesapeake Energy’s dividend payout ratio is currently 13.66%.

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.