Chesapeake Energy Corporation (NYSE:CHK) saw a significant decrease in short interest in October. As of October 13th, there was short interest totalling 179,374,478 shares, a decrease of 7.1% from the September 29th total of 193,127,446 shares. Approximately 20.0% of the company’s shares are short sold. Based on an average daily volume of 18,950,401 shares, the days-to-cover ratio is presently 9.5 days.
CHK has been the topic of several research analyst reports. Piper Jaffray Companies set a $4.00 price objective on Chesapeake Energy Corporation and gave the stock a “hold” rating in a research note on Thursday, October 19th. Vetr raised Chesapeake Energy Corporation from a “sell” rating to a “hold” rating and set a $4.80 price objective on the stock in a research note on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating on shares of Chesapeake Energy Corporation in a research note on Friday, July 21st. Scotiabank set a $5.00 price objective on Chesapeake Energy Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut Chesapeake Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.84.
Chesapeake Energy Corporation (NYSE:CHK) opened at 3.77 on Monday. The company has a 50-day moving average price of $4.00 and a 200-day moving average price of $4.64. Chesapeake Energy Corporation has a 52 week low of $3.41 and a 52 week high of $8.20. The stock’s market cap is $3.36 billion.
Chesapeake Energy Corporation (NYSE:CHK) last announced its 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. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company earned ($0.14) earnings per share. The business’s revenue was up 40.6% compared to the same quarter last year. Equities research analysts anticipate that Chesapeake Energy Corporation will post $0.72 EPS for the current year.
In other news, Director R Brad Martin acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $4.11 per share, with a total value of $102,750.00. Following the completion of the purchase, the director now directly owns 547,358 shares in the company, valued at $2,249,641.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. SOL Capital Management CO raised its holdings in shares of Chesapeake Energy Corporation by 32.0% in the third quarter. SOL Capital Management CO now owns 95,075 shares of the oil and gas exploration company’s stock valued at $409,000 after buying an additional 23,030 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Chesapeake Energy Corporation in the third quarter valued at about $170,000. Murphy Pohlad Asset Management LLC raised its holdings in shares of Chesapeake Energy Corporation by 13.8% in the third quarter. Murphy Pohlad Asset Management LLC now owns 122,200 shares of the oil and gas exploration company’s stock valued at $525,000 after buying an additional 14,818 shares during the last quarter. Nationwide Fund Advisors raised its holdings in shares of Chesapeake Energy Corporation by 9.0% in the third quarter. Nationwide Fund Advisors now owns 238,475 shares of the oil and gas exploration company’s stock valued at $1,025,000 after buying an additional 19,739 shares during the last quarter. Finally, Edge Wealth Management LLC raised its holdings in shares of Chesapeake Energy Corporation by 4,000.0% in the third quarter. Edge Wealth Management LLC now owns 82,000 shares of the oil and gas exploration company’s stock valued at $354,000 after buying an additional 80,000 shares during the last quarter. 64.87% of the stock is owned by institutional investors and hedge funds.
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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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