Chesapeake Energy Co. (NYSE:CHK) – Analysts at SunTrust Banks reduced their FY2019 earnings per share estimates for Chesapeake Energy in a research report issued to clients and investors on Tuesday, November 5th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas exploration company will post earnings of ($0.32) per share for the year, down from their prior estimate of ($0.31). SunTrust Banks currently has a “Hold” rating and a $2.00 target price on the stock. SunTrust Banks also issued estimates for Chesapeake Energy’s Q4 2019 earnings at ($0.07) EPS, Q1 2021 earnings at ($0.06) EPS, Q2 2021 earnings at ($0.07) EPS, Q3 2021 earnings at ($0.06) EPS and FY2021 earnings at ($0.24) EPS.
Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Chesapeake Energy from a “sell” rating to a “hold” rating and set a $2.50 target price on the stock in a research note on Tuesday, September 17th. Raymond James lowered Chesapeake Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 8th. ValuEngine upgraded Chesapeake Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Tudor Pickering lowered Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Morgan Stanley lowered their target price on Chesapeake Energy from $2.50 to $2.25 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Chesapeake Energy currently has an average rating of “Hold” and a consensus price target of $2.88.
Shares of NYSE CHK opened at $0.90 on Friday. The firm has a market cap of $2.09 billion, a P/E ratio of 1.00 and a beta of 2.45. The company has a current ratio of 0.60, a quick ratio of 0.62 and a debt-to-equity ratio of 2.94. Chesapeake Energy has a 1-year low of $0.79 and a 1-year high of $3.78. The business’s 50 day moving average is $1.37 and its 200-day moving average is $1.79.
Chesapeake Energy (NYSE:CHK) last announced its earnings results on Tuesday, November 5th. The oil and gas exploration company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Chesapeake Energy had a return on equity of 9.01% and a net margin of 5.46%. Chesapeake Energy’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS.
Institutional investors have recently bought and sold shares of the business. Cresset Asset Management LLC bought a new position in shares of Chesapeake Energy in the 2nd quarter valued at $30,000. Howard Financial Services LTD. boosted its holdings in shares of Chesapeake Energy by 75.0% during the 2nd quarter. Howard Financial Services LTD. now owns 17,500 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 7,500 shares in the last quarter. XR Securities LLC acquired a new stake in shares of Chesapeake Energy during the 3rd quarter valued at $25,000. Enlightenment Research LLC acquired a new stake in shares of Chesapeake Energy during the 2nd quarter valued at $52,000. Finally, Spears Abacus Advisors LLC acquired a new stake in shares of Chesapeake Energy during the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 68.67% of the company’s stock.
In related news, CEO Robert D. Lawler acquired 50,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were purchased at an average price of $0.91 per share, for a total transaction of $45,500.00. Following the purchase, the chief executive officer now directly owns 5,133,298 shares in the company, valued at $4,671,301.18. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director R Brad Martin acquired 250,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were bought at an average price of $0.91 per share, for a total transaction of $227,500.00. 1.90% of the stock is owned by company insiders.
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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.
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