Chesapeake Energy Corporation (NYSE:CHK) Downgraded to “Hold” at Vetr Inc.

Vetr cut shares of Chesapeake Energy Corporation (NYSE:CHK) from a buy rating to a hold rating in a research report report published on Monday, July 31st. They currently have $5.23 price target on the oil and gas exploration company’s stock.

Several other research firms have also commented on CHK. BidaskClub upgraded shares of Chesapeake Energy Corporation from a sell rating to a hold rating in a research report on Wednesday, June 28th. Scotiabank restated a hold rating and set a $5.00 price target on shares of Chesapeake Energy Corporation in a research report on Friday, June 30th. BMO Capital Markets restated a hold rating and set a $3.00 price target on shares of Chesapeake Energy Corporation in a research report on Tuesday, June 27th. Barclays PLC restated a sell rating and set a $4.00 price target (down previously from $5.00) on shares of Chesapeake Energy Corporation in a research report on Thursday, April 20th. Finally, Jefferies Group LLC set a $6.00 price target on shares of Chesapeake Energy Corporation and gave the stock a hold rating in a research report on Tuesday, June 6th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $6.55.

Chesapeake Energy Corporation (NYSE:CHK) opened at 4.14 on Monday. The firm’s market capitalization is $3.69 billion. The company’s 50-day moving average is $4.71 and its 200-day moving average is $5.39. Chesapeake Energy Corporation has a 52-week low of $4.05 and a 52-week high of $8.20.

Chesapeake Energy Corporation (NYSE:CHK) last issued its earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue was up 40.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) earnings per share. On average, analysts predict that Chesapeake Energy Corporation will post $0.76 EPS for the current year.

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In related news, Director R Brad Martin acquired 20,000 shares of the 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 purchase, the director now owns 501,958 shares in the company, valued at approximately $2,640,299.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas L. Ryan acquired 75,000 shares of the stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $5.00 per share, for a total transaction of $375,000.00. Following the purchase, the director now owns 440,355 shares of the company’s stock, valued at approximately $2,201,775. The disclosure for this purchase can be found here. Insiders purchased 115,400 shares of company stock worth $573,020 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in CHK. Tiedemann Wealth Management LLC increased its stake in shares of Chesapeake Energy Corporation by 21.0% in the first quarter. Tiedemann Wealth Management LLC now owns 16,999 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 2,952 shares during the last quarter. Hollencrest Securities LLC increased its stake in shares of Chesapeake Energy Corporation by 6.1% in the first quarter. Hollencrest Securities LLC now owns 17,275 shares of the oil and gas exploration company’s stock valued at $103,000 after buying an additional 1,000 shares during the last quarter. Cleararc Capital Inc. increased its stake in shares of Chesapeake Energy Corporation by 2.8% in the first quarter. Cleararc Capital Inc. now owns 18,627 shares of the oil and gas exploration company’s stock valued at $111,000 after buying an additional 508 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Chesapeake Energy Corporation during the second quarter valued at about $115,000. Finally, Cutler Capital Management LLC bought a new stake in shares of Chesapeake Energy Corporation during the first quarter valued at about $142,000. Institutional investors and hedge funds own 64.73% of the company’s stock.

Chesapeake Energy Corporation 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.

To view Vetr’s full report, visit Vetr’s official website.

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