A Little Good News for Chesapeake Energy (CHK, RRC, SWN, DVN)

Energy

Published: December 15, 2008 12:49 pm

Last Updated: March 26, 2020 6:23 pm

In a bit of good news this morning for Chesapeake Energy Corporation (NYSE:CHK), the Deutsche Bank analyst who downgraded Range Resources Corporation (NYSE:RRC), Southwestern Energy Company (NYSE:SWN), and Devon Energy Corporation (NYSE:DVN) maintained Chesapeake as one of four energy companies it still rates as a ‘buy’. As a little thank-you, Chesapeake announced its fourth-quarter dividend this morning.

All told, Chesapeake will pay out about $50 million in dividends, whichis not all that much for a company with a market cap of about $9.5billion. Still, given all Chesapeake’s recent cash flow troubles, it doesn’tmake an awful lot of sense to send more money out the door.

Of course, the market sees it differently. Chesapeake’s share price is down over 2% on the news.

Paul Ausick
December 15, 2008

It’s Your Money, Your Future—Own It (sponsor)

Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.

If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.