Chesapeake Energy Co. (NASDAQ:CHK) Forecasted to Post Q3 2023 Earnings of $0.34 Per Share

Chesapeake Energy Co. (NASDAQ:CHK – Free Report) – Equities research analysts at Capital One Financial reduced their Q3 2023 EPS estimates for shares of Chesapeake Energy in a research report issued on Wednesday, August 16th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $0.34 per share for the quarter, down from their prior estimate of $0.38. The consensus estimate for Chesapeake Energy’s current full-year earnings is $4.28 per share. Capital One Financial also issued estimates for Chesapeake Energy’s Q4 2023 earnings at $0.64 EPS, FY2023 earnings at $3.49 EPS and FY2025 earnings at $8.79 EPS.

A number of other analysts also recently weighed in on CHK. Benchmark reduced their target price on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday. Wells Fargo & Company boosted their target price on shares of Chesapeake Energy from $83.00 to $85.00 in a report on Thursday, July 13th. StockNews.com began coverage on shares of Chesapeake Energy in a report on Thursday. They issued a “hold” rating on the stock. TheStreet upgraded shares of Chesapeake Energy from a “c+” rating to a “b-” rating in a report on Tuesday, May 9th. Finally, Truist Financial reduced their target price on shares of Chesapeake Energy from $102.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.33.

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Chesapeake Energy Stock Performance

Chesapeake Energy stock opened at $85.93 on Friday. The company’s 50-day moving average price is $83.32 and its 200-day moving average price is $80.38. Chesapeake Energy has a twelve month low of $69.68 and a twelve month high of $107.31. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.20. The company has a market cap of $11.37 billion, a PE ratio of 2.02, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67.

Chesapeake Energy (NASDAQ:CHK – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. Chesapeake Energy had a net margin of 49.75% and a return on equity of 18.92%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $917.52 million. During the same period in the previous year, the firm posted $4.87 EPS.

Chesapeake Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Thursday, August 17th will be issued a dividend of $0.575 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.30 annualized dividend and a yield of 2.68%. Chesapeake Energy’s payout ratio is 5.42%.

Institutional Investors Weigh In On Chesapeake Energy

Several large investors have recently added to or reduced their stakes in CHK. Belpointe Asset Management LLC boosted its position in Chesapeake Energy by 478.3% in the 1st quarter. Belpointe Asset Management LLC now owns 347 shares of the company’s stock valued at $26,000 after buying an additional 287 shares during the period. Private Trust Co. NA boosted its position in Chesapeake Energy by 182.5% in the 2nd quarter. Private Trust Co. NA now owns 339 shares of the company’s stock valued at $28,000 after buying an additional 219 shares during the period. Hexagon Capital Partners LLC boosted its position in Chesapeake Energy by 149.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 359 shares of the company’s stock valued at $30,000 after buying an additional 215 shares during the period. Parkside Financial Bank & Trust boosted its position in Chesapeake Energy by 132.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 362 shares of the company’s stock valued at $30,000 after buying an additional 206 shares during the period. Finally, Salem Investment Counselors Inc. purchased a new stake in Chesapeake Energy in the 1st quarter valued at about $32,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

About Chesapeake Energy

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Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties to produce 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.