Chesapeake Energy Corporation (CHK) Cut to Underperform at Jefferies Group LLC

Jefferies Group LLC downgraded shares of Chesapeake Energy Corporation (NYSE:CHK) from a hold rating to an underperform rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $2.00 price target on the oil and gas exploration company’s stock, down from their prior price target of $4.00. Jefferies Group also issued estimates for Chesapeake Energy Corporation’s Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.17 EPS, FY2017 earnings at $0.62 EPS, Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.84 EPS, Q1 2019 earnings at $0.33 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.29 EPS and FY2019 earnings at $1.24 EPS.

A number of other research analysts have also commented on the company. Citigroup Inc. lowered their price target on Chesapeake Energy Corporation from $8.00 to $5.00 and set a neutral rating on the stock in a report on Friday, July 21st. Tudor Pickering lowered Chesapeake Energy Corporation from a buy rating to a hold rating and raised their price target for the company from $3.76 to $4.00 in a report on Tuesday, September 5th. Vetr raised Chesapeake Energy Corporation from a buy rating to a strong-buy rating and set a $5.23 price target on the stock in a report on Monday, July 24th. Scotiabank reissued a hold rating and set a $5.00 price target on shares of Chesapeake Energy Corporation in a report on Friday, June 30th. Finally, ValuEngine lowered Chesapeake Energy Corporation from a buy rating to a hold rating in a report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $6.01.

Chesapeake Energy Corporation (NYSE:CHK) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 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 company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share.

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In other news, Director R Brad Martin purchased 25,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $4.11 per share, with a total value of $102,750.00. Following the purchase, the director now directly owns 547,358 shares of the company’s stock, valued at $2,249,641.38. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of CHK. Fox Run Management L.L.C. bought a new position in shares of Chesapeake Energy Corporation in the 2nd quarter valued at approximately $115,000. Advisory Services Network LLC raised its stake in shares of Chesapeake Energy Corporation by 42.6% in the 2nd quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock valued at $116,000 after acquiring an additional 7,000 shares in the last quarter. UBS Oconnor LLC bought a new position in shares of Chesapeake Energy Corporation in the 2nd quarter valued at approximately $122,000. Gotham Asset Management LLC bought a new position in shares of Chesapeake Energy Corporation in the 2nd quarter valued at approximately $126,000. Finally, HRT Financial LLC bought a new position in shares of Chesapeake Energy Corporation in the 2nd quarter valued at approximately $131,000. 64.56% of the stock is currently owned by institutional investors and hedge funds.

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.

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