Chesapeake Energy Corporation (NYSE:CHK) was downgraded by investment analysts at Jefferies Group LLC from a “hold” rating to an “underperform” rating in a report issued on Monday. They currently have a $2.00 price target on the oil and gas exploration company’s stock, down from their prior price target of $4.00. Jefferies Group LLC’s price target suggests a potential downside of 48.85% from the company’s previous close.
Several other analysts have also weighed in on CHK. Mizuho reaffirmed a “hold” rating and set a $5.00 price objective on shares of Chesapeake Energy Corporation in a report on Friday, September 29th. ValuEngine raised shares of Chesapeake Energy Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Scotiabank set a $5.00 price objective on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of Chesapeake Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Vetr raised shares of Chesapeake Energy Corporation from a “hold” rating to a “strong-buy” rating and set a $5.68 price objective for the company in a report on Tuesday, August 1st. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Chesapeake Energy Corporation has a consensus rating of “Hold” and a consensus price target of $6.05.
Chesapeake Energy Corporation (NYSE:CHK) opened at 3.91 on Monday. The stock’s 50 day moving average price is $4.00 and its 200 day moving average price is $4.83. The firm’s market capitalization is $3.49 billion. Chesapeake Energy Corporation has a 12 month low of $3.55 and a 12 month high of $8.20.
Chesapeake Energy Corporation (NYSE:CHK) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $1.07 billion. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. The company’s revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) earnings per share. On average, analysts forecast that Chesapeake Energy Corporation will post $0.72 earnings per share for the current year.
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In related news, Director R Brad Martin purchased 25,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $4.11 per share, with a total value of $102,750.00. Following the completion of the purchase, the director now directly owns 547,358 shares of the company’s stock, valued at $2,249,641.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.14% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CHK. Vanguard Group Inc. boosted its stake in Chesapeake Energy Corporation by 19.3% in the second quarter. Vanguard Group Inc. now owns 108,761,169 shares of the oil and gas exploration company’s stock valued at $540,542,000 after acquiring an additional 17,615,861 shares during the last quarter. Bridgewater Associates LP bought a new position in Chesapeake Energy Corporation in the second quarter valued at approximately $26,111,000. State Street Corp boosted its stake in Chesapeake Energy Corporation by 9.1% in the second quarter. State Street Corp now owns 47,768,507 shares of the oil and gas exploration company’s stock valued at $237,402,000 after acquiring an additional 3,982,812 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in Chesapeake Energy Corporation by 62.3% in the second quarter. Parametric Portfolio Associates LLC now owns 5,118,536 shares of the oil and gas exploration company’s stock valued at $25,439,000 after acquiring an additional 1,963,927 shares during the last quarter. Finally, James Investment Research Inc. boosted its stake in Chesapeake Energy Corporation by 3,211.0% in the second quarter. James Investment Research Inc. now owns 1,726,694 shares of the oil and gas exploration company’s stock valued at $8,582,000 after acquiring an additional 1,674,544 shares during the last quarter. 64.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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