Brokers Issue Forecasts for Chesapeake Energy Co.’s Q2 2024 Earnings (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Stock analysts at Capital One Financial dropped their Q2 2024 earnings per share estimates for shares of Chesapeake Energy in a research report issued to clients and investors on Wednesday, May 1st. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $0.13 for the quarter, down from their previous estimate of $0.30. The consensus estimate for Chesapeake Energy’s current full-year earnings is $1.19 per share. Capital One Financial also issued estimates for Chesapeake Energy’s Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $1.02 EPS and FY2025 earnings at $3.95 EPS.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.08). Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $674.99 million. During the same quarter last year, the firm earned $1.87 EPS.

A number of other equities research analysts have also recently commented on the stock. Citigroup raised shares of Chesapeake Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $82.00 to $95.00 in a research note on Friday, January 12th. Jefferies Financial Group decreased their target price on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. KeyCorp assumed coverage on shares of Chesapeake Energy in a research report on Thursday, April 4th. They set a “sector weight” rating on the stock. UBS Group lifted their price target on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Finally, Truist Financial reduced their price target on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.83.

Chesapeake Energy Price Performance

Shares of NASDAQ:CHK opened at $89.08 on Monday. Chesapeake Energy has a 52 week low of $72.84 and a 52 week high of $93.58. The company has a 50-day moving average price of $86.65 and a 200 day moving average price of $82.05. The company has a market cap of $11.67 billion, a P/E ratio of 12.01 and a beta of 0.51. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19.

Chesapeake Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, May 15th. This is a boost from Chesapeake Energy’s previous quarterly dividend of $0.58. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its stake in Chesapeake Energy by 1.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 9,439 shares of the company’s stock worth $716,000 after purchasing an additional 151 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Chesapeake Energy by 4.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,761 shares of the company’s stock worth $289,000 after buying an additional 154 shares during the period. Forum Financial Management LP boosted its position in shares of Chesapeake Energy by 6.2% during the third quarter. Forum Financial Management LP now owns 2,812 shares of the company’s stock worth $242,000 after buying an additional 163 shares during the period. Signaturefd LLC boosted its position in shares of Chesapeake Energy by 16.5% during the fourth quarter. Signaturefd LLC now owns 1,250 shares of the company’s stock worth $96,000 after buying an additional 177 shares during the period. Finally, Lindbrook Capital LLC boosted its position in shares of Chesapeake Energy by 90.8% during the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after buying an additional 178 shares during the period. 97.93% of the stock is owned by institutional investors.

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.