Chesapeake Energy Corporation (NYSE:CHK) Upgraded by Vetr Inc. to Strong-Buy

Chesapeake Energy Corporation (NYSE:CHK) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday, July 24th. The brokerage currently has a $5.23 price target on the oil and gas exploration company’s stock. Vetr‘s target price would suggest a potential upside of 32.07% from the company’s previous close.

A number of other analysts have also issued reports on the company. Citigroup Inc. cut their target price on Chesapeake Energy Corporation from $8.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. Stifel Nicolaus reissued a “buy” rating on shares of Chesapeake Energy Corporation in a research report on Friday, July 21st. Jefferies Group LLC reissued a “hold” rating and issued a $5.00 target price on shares of Chesapeake Energy Corporation in a research report on Friday, July 21st. Scotiabank reissued a “hold” rating and issued a $5.00 target price on shares of Chesapeake Energy Corporation in a research report on Friday, June 30th. Finally, BidaskClub raised Chesapeake Energy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.55.

Shares of Chesapeake Energy Corporation (NYSE CHK) traded up 2.06% on Monday, reaching $3.96. The company had a trading volume of 35,126,024 shares. The stock’s market capitalization is $3.53 billion. The company’s 50 day moving average price is $4.60 and its 200-day moving average price is $5.28. Chesapeake Energy Corporation has a 1-year low of $3.81 and a 1-year high of $8.20.

Chesapeake Energy Corporation (NYSE:CHK) last announced its earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $1.07 billion. Chesapeake Energy Corporation had a negative return on equity of 16.10% and a negative net margin of 9.52%. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Equities analysts predict that Chesapeake Energy Corporation will post $0.76 EPS for the current year.

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In other Chesapeake Energy Corporation news, Director R Brad Martin bought 20,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was 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 of the company’s stock, valued at $2,640,299.08. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas L. Ryan bought 75,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average price of $5.00 per share, with a total value of $375,000.00. Following the purchase, the director now directly 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 have bought 140,400 shares of company stock valued at $675,770 in the last quarter. Insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CHK. Harris Associates L P boosted its position in shares of Chesapeake Energy Corporation by 96.4% in the first quarter. Harris Associates L P now owns 65,475,640 shares of the oil and gas exploration company’s stock worth $388,926,000 after buying an additional 32,145,200 shares during the period. Vanguard Group Inc. boosted its position in shares of Chesapeake Energy Corporation by 19.3% in the second quarter. Vanguard Group Inc. now owns 108,761,169 shares of the oil and gas exploration company’s stock worth $540,542,000 after buying an additional 17,615,861 shares during the period. Bridgewater Associates LP bought a new position in shares of Chesapeake Energy Corporation during the second quarter worth about $26,111,000. State Street Corp boosted its position in shares of Chesapeake Energy Corporation by 9.1% in the second quarter. State Street Corp now owns 47,768,507 shares of the oil and gas exploration company’s stock worth $237,402,000 after buying an additional 3,982,812 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Chesapeake Energy Corporation by 62.3% in the second quarter. Parametric Portfolio Associates LLC now owns 5,118,536 shares of the oil and gas exploration company’s stock worth $25,439,000 after buying an additional 1,963,927 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.

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

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