Chesapeake Energy (NASDAQ:EXE) Sets New 12-Month High – Here’s What Happened

Chesapeake Energy Corporation (NASDAQ:EXE) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $115.90 and last traded at $115.35, with a volume of 701888 shares changing hands. The stock had previously closed at $113.48.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EXE. Raymond James started coverage on Chesapeake Energy in a report on Tuesday, February 4th. They set a “strong-buy” rating and a $135.00 price target on the stock. Benchmark raised their target price on shares of Chesapeake Energy from $93.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, April 3rd. Mizuho boosted their price target on shares of Chesapeake Energy from $136.00 to $141.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 13th. Truist Financial decreased their price objective on shares of Chesapeake Energy from $133.00 to $131.00 and set a “buy” rating for the company in a report on Monday, March 17th. Finally, Piper Sandler upgraded shares of Chesapeake Energy from a “neutral” rating to an “overweight” rating and set a $136.00 price objective on the stock in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $125.33.

Chesapeake Energy Stock Up 1.9%

The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $27.51 billion, a P/E ratio of 71.09 and a beta of 0.46. The firm’s 50 day moving average price is $107.00 and its two-hundred day moving average price is $102.49.

Chesapeake Energy (NASDAQ:EXE) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.85 by $0.17. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.10 billion. Chesapeake Energy had a return on equity of 2.74% and a net margin of 6.07%. Equities research analysts forecast that Chesapeake Energy Corporation will post 1.33 EPS for the current year.

Chesapeake Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.30 annualized dividend and a yield of 1.99%. Chesapeake Energy’s dividend payout ratio (DPR) is presently -42.91%.

Insiders Place Their Bets

In other news, CEO Domenic J. Dell’osso, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $99.50 per share, with a total value of $248,750.00. Following the acquisition, the chief executive officer now owns 107,845 shares in the company, valued at approximately $10,730,577.50. The trade was a 2.37% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Chesapeake Energy during the 1st quarter valued at approximately $36,507,000. Parallel Advisors LLC bought a new position in shares of Chesapeake Energy during the 1st quarter worth approximately $286,000. Doliver Advisors LP bought a new stake in Chesapeake Energy in the first quarter valued at $446,000. Peoples Bank KS acquired a new position in Chesapeake Energy during the 1st quarter worth approximately $33,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Chesapeake Energy during the first quarter valued at approximately $466,000. 97.93% of the stock is currently owned by institutional investors.

About Chesapeake Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.