Chesapeake Energy Corporation (CHK) Receives “Buy” Rating from Bank of America Corporation

Bank of America Corporation reaffirmed their buy rating on shares of Chesapeake Energy Corporation (NYSE:CHK) in a research note published on Friday, May 12th, StockTargetPrices.com reports.

A number of other analysts have also issued reports on the stock. Stifel Nicolaus initiated coverage on shares of Chesapeake Energy Corporation in a research report on Thursday, March 23rd. They set a buy rating and a $10.00 target price on the stock. Wunderlich set a $10.00 price target on shares of Chesapeake Energy Corporation and gave the company a buy rating in a report on Sunday, February 26th. SunTrust Banks, Inc. reiterated a buy rating on shares of Chesapeake Energy Corporation in a report on Saturday, January 21st. ValuEngine upgraded shares of Chesapeake Energy Corporation from a hold rating to a buy rating in a report on Thursday, May 11th. Finally, Scotiabank set a $6.00 price target on shares of Chesapeake Energy Corporation and gave the company a hold rating in a report on Monday, March 27th. Three analysts have rated the stock with a sell rating, twenty-four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Chesapeake Energy Corporation currently has an average rating of Hold and an average price target of $7.25.

Chesapeake Energy Corporation (NYSE:CHK) traded up 2.00% during trading on Friday, hitting $5.10. The stock had a trading volume of 33,825,402 shares. Chesapeake Energy Corporation has a 52-week low of $3.93 and a 52-week high of $8.20. The company’s market cap is $4.54 billion. The firm’s 50-day moving average price is $5.30 and its 200-day moving average price is $6.05.

Chesapeake Energy Corporation (NYSE:CHK) last issued its earnings results on Thursday, May 4th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. Chesapeake Energy Corporation had a negative net margin of 35.84% and a negative return on equity of 7.64%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted ($0.10) earnings per share. Analysts predict that Chesapeake Energy Corporation will post $0.85 EPS for the current fiscal year.

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In other news, Director R Brad Martin purchased 20,000 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were acquired at an average price of $5.26 per share, for a total transaction of $105,200.00. Following the completion of the acquisition, the director now directly owns 501,958 shares of the company’s stock, valued at $2,640,299.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas L. Ryan purchased 75,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average price of $5.00 per share, for a total transaction 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. 1.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHK. Great West Life Assurance Co. Can raised its position in Chesapeake Energy Corporation by 9.1% in the third quarter. Great West Life Assurance Co. Can now owns 857,044 shares of the oil and gas exploration company’s stock valued at $5,362,000 after buying an additional 71,234 shares in the last quarter. Montgomery Investment Management Inc. raised its position in Chesapeake Energy Corporation by 72.8% in the third quarter. Montgomery Investment Management Inc. now owns 168,470 shares of the oil and gas exploration company’s stock valued at $1,057,000 after buying an additional 71,000 shares in the last quarter. SOL Capital Management CO raised its position in Chesapeake Energy Corporation by 1.6% in the third quarter. SOL Capital Management CO now owns 61,750 shares of the oil and gas exploration company’s stock valued at $387,000 after buying an additional 1,000 shares in the last quarter. Icon Advisers Inc. Co. raised its position in Chesapeake Energy Corporation by 28.5% in the third quarter. Icon Advisers Inc. Co. now owns 1,302,850 shares of the oil and gas exploration company’s stock valued at $8,169,000 after buying an additional 289,000 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in Chesapeake Energy Corporation by 5.1% in the third quarter. BlackRock Fund Advisors now owns 11,465,865 shares of the oil and gas exploration company’s stock valued at $71,891,000 after buying an additional 553,434 shares in the last quarter. Hedge funds and other institutional investors own 64.94% of the company’s stock.

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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