Brokerages Set Chesapeake Energy Corporation (CHK) Price Target at $6.77

Shares of Chesapeake Energy Corporation (NYSE:CHK) have been assigned an average recommendation of “Hold” from the thirty-three analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $6.77.

A number of analysts recently commented on CHK shares. Royal Bank Of Canada set a $7.00 target price on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a research note on Monday, May 29th. FBR & Co restated a “sell” rating on shares of Chesapeake Energy Corporation in a research note on Friday, May 5th. Vetr upgraded shares of Chesapeake Energy Corporation from a “sell” rating to a “hold” rating and set a $4.80 price objective for the company in a research note on Wednesday, July 5th. Bank of America Corporation restated a “buy” rating on shares of Chesapeake Energy Corporation in a research note on Friday, May 12th. Finally, J P Morgan Chase & Co decreased their price objective on shares of Chesapeake Energy Corporation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, May 31st.

Shares of Chesapeake Energy Corporation (NYSE CHK) traded down 2.42% during mid-day trading on Monday, reaching $4.84. 24,828,398 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $4.86 and its 200-day moving average price is $5.64. Chesapeake Energy Corporation has a one year low of $4.38 and a one year high of $8.20. The company’s market capitalization is $4.31 billion.

Chesapeake Energy Corporation (NYSE:CHK) last released its earnings results on Thursday, May 4th. The oil and gas exploration company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Chesapeake Energy Corporation had a negative net margin of 35.84% and a negative return on equity of 7.64%. During the same period last year, the business earned ($0.10) EPS. On average, equities analysts expect that Chesapeake Energy Corporation will post $0.82 earnings per share for the current year.

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In other Chesapeake Energy Corporation news, Director R Brad Martin bought 20,400 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was acquired at an average price of $4.55 per share, with a total value of $92,820.00. Following the completion of the acquisition, the director now directly owns 522,358 shares of the company’s stock, valued at $2,376,728.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas L. Ryan bought 75,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $5.00 per share, with a total value of $375,000.00. Following the acquisition, the director now directly owns 440,355 shares of the company’s stock, valued at $2,201,775. The disclosure for this purchase can be found here. Insiders have bought 115,400 shares of company stock valued at $573,020 in the last ninety days. Insiders own 1.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. boosted its position in shares of Chesapeake Energy Corporation by 13.3% in the first quarter. Suntrust Banks Inc. now owns 304,713 shares of the oil and gas exploration company’s stock worth $1,808,000 after buying an additional 35,690 shares during the last quarter. Flinton Capital Management LLC boosted its position in shares of Chesapeake Energy Corporation by 25.4% in the first quarter. Flinton Capital Management LLC now owns 82,768 shares of the oil and gas exploration company’s stock worth $492,000 after buying an additional 16,772 shares during the last quarter. US Bancorp DE boosted its position in shares of Chesapeake Energy Corporation by 26.3% in the first quarter. US Bancorp DE now owns 37,164 shares of the oil and gas exploration company’s stock worth $221,000 after buying an additional 7,733 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Chesapeake Energy Corporation by 13.0% in the first quarter. Westwood Holdings Group Inc. now owns 4,379,718 shares of the oil and gas exploration company’s stock worth $26,015,000 after buying an additional 504,570 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Chesapeake Energy Corporation during the first quarter worth approximately $1,583,000. 64.60% of the stock is owned by institutional investors and hedge funds.

About Chesapeake Energy Corporation

Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.