Adell Harriman & Carpenter Inc. Decreases Position in Chesapeake Energy Co. (NASDAQ:CHK)

Adell Harriman & Carpenter Inc. lowered its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 27.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,750 shares of the company’s stock after selling 1,800 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Chesapeake Energy were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Chesapeake Energy by 29.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,104,685 shares of the company’s stock valued at $353,947,000 after purchasing an additional 936,169 shares in the last quarter. Kimmeridge Energy Management Company LLC lifted its holdings in Chesapeake Energy by 16.2% during the 3rd quarter. Kimmeridge Energy Management Company LLC now owns 3,153,879 shares of the company’s stock worth $271,959,000 after buying an additional 439,186 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Chesapeake Energy by 15.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,235,870 shares of the company’s stock worth $279,029,000 after acquiring an additional 427,181 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Chesapeake Energy by 18.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,723,456 shares of the company’s stock worth $234,844,000 after acquiring an additional 426,560 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Chesapeake Energy by 190.8% in the 3rd quarter. AQR Capital Management LLC now owns 620,462 shares of the company’s stock valued at $53,502,000 after acquiring an additional 407,082 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Energy Price Performance

Shares of CHK traded down $1.12 during trading hours on Tuesday, reaching $91.84. 430,147 shares of the company traded hands, compared to its average volume of 2,012,875. The stock has a fifty day simple moving average of $86.18 and a 200 day simple moving average of $82.10. Chesapeake Energy Co. has a fifty-two week low of $72.84 and a fifty-two week high of $93.58. The stock has a market capitalization of $12.01 billion, a PE ratio of 5.52 and a beta of 0.52. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.19.

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

Chesapeake Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 7th were issued a $0.575 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.50%. Chesapeake Energy’s dividend payout ratio (DPR) is presently 13.66%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CHK shares. KeyCorp started coverage on Chesapeake Energy in a report on Thursday, April 4th. They issued a “sector weight” rating for the company. UBS Group upped their target price on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Benchmark cut their price target on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Truist Financial decreased their price objective on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Scotiabank lifted their target price on Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $104.73.

About Chesapeake Energy

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.