SunTrust Banks Weighs in on Chesapeake Energy Co.’s FY2019 Earnings (NYSE:CHK)

Chesapeake Energy Co. (NYSE:CHK) – Investment analysts at SunTrust Banks raised their FY2019 earnings estimates for Chesapeake Energy in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst N. Dingmann now expects that the oil and gas exploration company will earn $1.11 per share for the year, up from their prior estimate of $1.10. SunTrust Banks currently has a “Buy” rating and a $6.00 price objective on the stock. SunTrust Banks also issued estimates for Chesapeake Energy’s FY2020 earnings at $1.20 EPS.

Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings results on Thursday, November 2nd. The oil and gas exploration company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm had revenue of $979.00 million for the quarter, compared to analyst estimates of $1.05 billion. Chesapeake Energy had a net margin of 2.77% and a negative return on equity of 19.93%. Chesapeake Energy’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS.

A number of other research firms have also commented on CHK. ValuEngine upgraded shares of Chesapeake Energy from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Mizuho restated a “hold” rating and issued a $5.00 price objective on shares of Chesapeake Energy in a research note on Friday, September 29th. Jefferies Group lowered shares of Chesapeake Energy from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $4.00 to $2.00 in a research note on Monday, October 9th. BMO Capital Markets set a $4.00 price objective on shares of Chesapeake Energy and gave the company a “hold” rating in a research note on Tuesday, November 14th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $5.00 price objective on shares of Chesapeake Energy in a research note on Tuesday. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.15.

Chesapeake Energy (NYSE:CHK) traded up $0.19 during midday trading on Thursday, reaching $4.19. 55,586,300 shares of the company’s stock were exchanged, compared to its average volume of 27,350,000. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of -4.17. The firm has a market capitalization of $3,810.00, a price-to-earnings ratio of -7.22 and a beta of 2.16. Chesapeake Energy has a one year low of $3.41 and a one year high of $7.29.

Large investors have recently modified their holdings of the company. Archford Capital Strategies LLC purchased a new stake in shares of Chesapeake Energy in the second quarter valued at about $984,000. Advisory Services Network LLC boosted its holdings in Chesapeake Energy by 42.6% during the second quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock worth $116,000 after buying an additional 7,000 shares in the last quarter. UBS Oconnor LLC purchased a new stake in Chesapeake Energy during the second quarter worth about $122,000. Gotham Asset Management LLC purchased a new stake in Chesapeake Energy during the second quarter worth about $126,000. Finally, Blair William & Co. IL boosted its holdings in Chesapeake Energy by 10.5% during the second quarter. Blair William & Co. IL now owns 29,469 shares of the oil and gas exploration company’s stock worth $146,000 after buying an additional 2,800 shares in the last quarter. 63.98% of the stock is currently owned by institutional investors and hedge funds.

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Chesapeake Energy Company Profile

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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Earnings History and Estimates for Chesapeake Energy (NYSE:CHK)

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