Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Holdings in Chesapeake Energy Co. (NASDAQ:CHK)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 49.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,051 shares of the company’s stock after selling 21,379 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chesapeake Energy were worth $1,697,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Chesapeake Energy by 2.0% during the third quarter. Vanguard Group Inc. now owns 12,852,961 shares of the company’s stock valued at $1,108,311,000 after purchasing an additional 257,880 shares during the period. Massachusetts Financial Services Co. MA boosted its stake 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 worth $353,947,000 after buying an additional 936,169 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Chesapeake Energy by 15.2% in the third 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 during the period. Kimmeridge Energy Management Company LLC grew its holdings in shares of Chesapeake Energy by 16.2% in the third quarter. Kimmeridge Energy Management Company LLC now owns 3,153,879 shares of the company’s stock worth $271,959,000 after acquiring an additional 439,186 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in Chesapeake Energy by 18.6% in the third quarter. Lord Abbett & CO. LLC now owns 2,723,456 shares of the company’s stock valued at $234,844,000 after acquiring an additional 426,560 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Price Performance

CHK stock opened at $90.69 on Thursday. The company has a market capitalization of $11.86 billion, a PE ratio of 5.39 and a beta of 0.52. The company’s fifty day moving average price is $85.37 and its 200-day moving average price is $82.07. Chesapeake Energy Co. has a one year low of $72.84 and a one year high of $91.03. 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 released its quarterly earnings data on Tuesday, February 20th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.42 by $0.89. Chesapeake Energy had a net margin of 27.74% and a return on equity of 6.74%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $962.95 million. During the same quarter in the prior year, the firm earned $4.22 EPS. On average, equities analysts anticipate that Chesapeake Energy Co. will post 2.03 EPS for the current fiscal year.

Chesapeake Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, March 7th were paid a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Wednesday, March 6th. Chesapeake Energy’s payout ratio is 13.66%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CHK. Citigroup upgraded shares of Chesapeake Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $82.00 to $95.00 in a research note on Friday, January 12th. Scotiabank lifted their price target on shares of Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Jefferies Financial Group reduced their price objective 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 lifted their target price on Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Finally, Mizuho restated a “buy” rating and issued a $100.00 price target on shares of Chesapeake Energy in a research report on Thursday, April 11th. One 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. According to data from MarketBeat.com, the stock 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.