Chesapeake Energy (NYSE:CHK) was upgraded by analysts at UBS Group from a “neutral” rating to a “positive” rating in a research report issued to clients and investors on Wednesday, October 31st, The Fly reports.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Chesapeake Energy from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Thursday, October 25th. Morgan Stanley started coverage on shares of Chesapeake Energy in a research note on Thursday, October 4th. They issued an “equal weight” rating and a $5.00 price target on the stock. SunTrust Banks lowered shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. They noted that the move was a valuation call. Stephens reiterated a “hold” rating and issued a $6.00 price target on shares of Chesapeake Energy in a research note on Friday, July 27th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $5.00 price target on shares of Chesapeake Energy in a research note on Friday, July 20th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $5.06.
Shares of NYSE:CHK traded up $0.06 during midday trading on Wednesday, reaching $3.26. 25,491,589 shares of the company were exchanged, compared to its average volume of 40,335,884. Chesapeake Energy has a fifty-two week low of $2.53 and a fifty-two week high of $5.60. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 3.98, a PEG ratio of 0.39 and a beta of 1.93.
Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business posted $0.12 earnings per share. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. Equities analysts predict that Chesapeake Energy will post 0.85 earnings per share for the current year.
In other news, EVP James R. Webb acquired 50,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was bought at an average price of $3.54 per share, with a total value of $177,000.00. Following the transaction, the executive vice president now directly owns 871,548 shares in the company, valued at approximately $3,085,279.92. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. River & Mercantile Asset Management LLP grew its position in shares of Chesapeake Energy by 7.3% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 1,600,864 shares of the oil and gas exploration company’s stock valued at $8,381,000 after acquiring an additional 109,348 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Chesapeake Energy by 181.6% during the 1st quarter. Principal Financial Group Inc. now owns 3,972,965 shares of the oil and gas exploration company’s stock worth $11,998,000 after buying an additional 2,561,947 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Chesapeake Energy by 8,898.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 127,147 shares of the oil and gas exploration company’s stock worth $570,000 after buying an additional 125,734 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Chesapeake Energy by 262.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 353,215 shares of the oil and gas exploration company’s stock worth $1,851,000 after buying an additional 255,677 shares during the period. Finally, ING Groep NV boosted its holdings in shares of Chesapeake Energy by 20.0% during the 2nd quarter. ING Groep NV now owns 487,665 shares of the oil and gas exploration company’s stock worth $2,555,000 after buying an additional 81,363 shares during the period. 59.55% of the stock is owned by institutional investors.
About Chesapeake Energy
Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.
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