Chesapeake Energy Corporation (CHK) Bond Prices Rise 1.3%

An issue of Chesapeake Energy Corporation (NYSE:CHK) bonds rose 1.3% as a percentage of their face value during trading on Tuesday. The debt issue has a 4.875% coupon and is set to mature on April 15, 2022. The debt is now trading at $93.75 and was trading at $93.50 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.

CHK has been the subject of a number of research reports. Scotiabank set a $5.00 target price on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. Vetr raised shares of Chesapeake Energy Corporation from a “buy” rating to a “strong-buy” rating and set a $5.23 target price for the company in a report on Monday, July 24th. Piper Jaffray Companies set a $6.00 target price on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. BidaskClub lowered shares of Chesapeake Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, ValuEngine lowered shares of Chesapeake Energy Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.05.

Shares of Chesapeake Energy Corporation (NYSE CHK) traded down 6.68% during mid-day trading on Tuesday, reaching $3.91. 43,149,084 shares of the company’s stock were exchanged. The stock’s market cap is $3.49 billion. The stock has a 50 day moving average price of $4.00 and a 200 day moving average price of $4.83. Chesapeake Energy Corporation has a 52 week low of $3.55 and a 52 week high of $8.20.

Chesapeake Energy Corporation (NYSE:CHK) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The business 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 company’s revenue was up 40.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.14) EPS. Equities research analysts predict that Chesapeake Energy Corporation will post $0.72 EPS for the current year.

In related news, Director R Brad Martin purchased 25,000 shares of Chesapeake Energy Corporation stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $4.11 per share, with a total value of $102,750.00. Following the transaction, the director now owns 547,358 shares of the company’s stock, valued at approximately $2,249,641.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.14% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new position in Chesapeake Energy Corporation during the 2nd quarter worth approximately $115,000. Advisory Services Network LLC lifted its position in Chesapeake Energy Corporation by 42.6% during the 2nd quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock worth $116,000 after acquiring an additional 7,000 shares in the last quarter. UBS Oconnor LLC acquired a new position in Chesapeake Energy Corporation during the 2nd quarter worth approximately $122,000. Gotham Asset Management LLC acquired a new position in Chesapeake Energy Corporation during the 2nd quarter worth approximately $126,000. Finally, HRT Financial LLC acquired a new position in Chesapeake Energy Corporation during the 2nd quarter worth approximately $131,000. 64.56% of the stock is currently owned by hedge funds and other institutional investors.

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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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