Fintel reports that on August 16, 2023, JP Morgan downgraded their outlook for Chesapeake Energy – (NASDAQ:CHK) from Overweight to Neutral.
Analyst Price Forecast Suggests 31.36% Upside
As of August 2, 2023, the average one-year price target for Chesapeake Energy – is 108.86. The forecasts range from a low of 85.85 to a high of $151.20. The average price target represents an increase of 31.36% from its latest reported closing price of 82.87.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Chesapeake Energy – is 8,906MM, a decrease of 16.72%. The projected annual non-GAAP EPS is 21.27.
Chesapeake Energy – Declares $0.58 Dividend
On August 1, 2023 the company declared a regular quarterly dividend of $0.58 per share ($2.30 annualized). Shareholders of record as of August 17, 2023 will receive the payment on September 6, 2023. Previously, the company paid $0.55 per share.
At the current share price of $82.87 / share, the stock’s dividend yield is 2.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 6.54%, the lowest has been 1.84%, and the highest has been 13.00%. The standard deviation of yields is 3.70 (n=116).
The current dividend yield is 1.02 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.18. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.07%.
What is the Fund Sentiment?
There are 1054 funds or institutions reporting positions in Chesapeake Energy -. This is a decrease of 7 owner(s) or 0.66% in the last quarter. Average portfolio weight of all funds dedicated to CHK is 0.41%, a decrease of 9.60%. Total shares owned by institutions increased in the last three months by 1.65% to 160,807K shares. The put/call ratio of CHK is 0.81, indicating a bullish outlook.
What are Other Shareholders Doing?
Blackstone Group holds 12,666K shares representing 9.57% ownership of the company. No change in the last quarter.
Capital World Investors holds 9,851K shares representing 7.44% ownership of the company. In it’s prior filing, the firm reported owning 9,848K shares, representing an increase of 0.03%. The firm decreased its portfolio allocation in CHK by 21.85% over the last quarter.
Oaktree Capital Management holds 8,580K shares representing 6.48% ownership of the company. In it’s prior filing, the firm reported owning 8,630K shares, representing a decrease of 0.58%. The firm decreased its portfolio allocation in CHK by 16.32% over the last quarter.
Wellington Management Group Llp holds 6,038K shares representing 4.56% ownership of the company. In it’s prior filing, the firm reported owning 4,936K shares, representing an increase of 18.25%. The firm decreased its portfolio allocation in CHK by 81.87% over the last quarter.
T. Rowe Price Investment Management holds 5,732K shares representing 4.33% ownership of the company. In it’s prior filing, the firm reported owning 1,611K shares, representing an increase of 71.90%. The firm increased its portfolio allocation in CHK by 272.10% over the last quarter.
Chesapeake Energy Background Information
(This description is provided by the company.)
Chesapeake Energy Corporation is an American exploration and production company, which is headquartered in Oklahoma City.
This article originally appeared on Fintel
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