Capital One Financial Comments on Chesapeake Energy Co.’s Q1 2024 Earnings (NASDAQ:CHK)

Chesapeake Energy Co. (NASDAQ:CHK) – Stock analysts at Capital One Financial upped their Q1 2024 earnings per share estimates for shares of Chesapeake Energy in a note issued to investors on Tuesday, April 9th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $0.72 for the quarter, up from their prior estimate of $0.50. The consensus estimate for Chesapeake Energy’s current full-year earnings is $3.01 per share. Capital One Financial also issued estimates for Chesapeake Energy’s FY2024 earnings at $2.03 EPS.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 6.74% and a net margin of 27.74%. During the same period last year, the firm posted $4.22 EPS.

A number of other equities analysts have also recently commented on the company. UBS Group lifted their price target on Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday. KeyCorp initiated coverage on Chesapeake Energy in a research note on Thursday, April 4th. They issued a “sector weight” rating on the stock. Truist Financial decreased their price target 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. TheStreet cut Chesapeake Energy from a “b-” rating to a “c+” rating in a research note on Friday, December 29th. Finally, Mizuho reaffirmed a “buy” rating and issued a $100.00 price target on shares of Chesapeake Energy in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $103.58.

Chesapeake Energy Stock Performance

Shares of NASDAQ CHK opened at $87.98 on Friday. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 5.22 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 has a 1-year low of $72.84 and a 1-year high of $91.03. The stock’s 50-day moving average is $83.26 and its 200 day moving average is $81.86.

Chesapeake Energy Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $2.30 annualized dividend and a dividend yield of 2.61%. Chesapeake Energy’s dividend payout ratio is presently 13.66%.

Institutional Investors Weigh In On Chesapeake Energy

Several hedge funds have recently made changes to their positions in CHK. Belpointe Asset Management LLC boosted its position in shares of Chesapeake Energy by 478.3% during the first quarter. Belpointe Asset Management LLC now owns 347 shares of the company’s stock valued at $26,000 after purchasing an additional 287 shares in the last quarter. Principal Securities Inc. bought a new stake in Chesapeake Energy in the fourth quarter worth $28,000. Parkside Financial Bank & Trust boosted its holdings in Chesapeake Energy by 132.1% in the second quarter. Parkside Financial Bank & Trust now owns 362 shares of the company’s stock worth $30,000 after acquiring an additional 206 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in Chesapeake Energy in the first quarter worth $32,000. Finally, Gladius Capital Management LP bought a new stake in Chesapeake Energy in the third quarter worth $36,000. 97.93% of the stock is currently owned by institutional investors.

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.