Chesapeake Energy (CHK) Bonds Trading 3% Lower

An issue of Chesapeake Energy Co. (NYSE:CHK) debt fell 3% against its face value during trading on Wednesday. The high-yield issue of debt has a 8% coupon and is set to mature on June 15, 2027. The bonds in the issue are now trading at $95.50 and were trading at $99.00 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.

Several equities research analysts recently issued reports on the stock. ValuEngine cut shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Credit Suisse Group assumed coverage on shares of Chesapeake Energy in a research report on Monday, December 11th. They set an “underperform” rating and a $3.00 price target on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $5.00 price target on shares of Chesapeake Energy in a research report on Tuesday, January 9th. SunTrust Banks reaffirmed a “buy” rating and set a $6.00 price target on shares of Chesapeake Energy in a research report on Wednesday, January 3rd. Finally, Scotiabank set a $4.00 price target on shares of Chesapeake Energy and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.29.

Shares of Chesapeake Energy Co. (CHK) opened at $2.89 on Thursday. The stock has a market cap of $2,630.00, a P/E ratio of -4.98 and a beta of 1.83. Chesapeake Energy Co. has a 12 month low of $2.80 and a 12 month high of $6.59. The company has a debt-to-equity ratio of -4.17, a quick ratio of 0.53 and a current ratio of 0.53.

Institutional investors and hedge funds have recently bought and sold shares of the company. Archford Capital Strategies LLC purchased a new stake in shares of Chesapeake Energy during the second quarter valued at approximately $984,000. Advisory Services Network LLC increased its stake in shares of Chesapeake Energy by 42.6% in the second quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock worth $116,000 after buying an additional 7,000 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of Chesapeake Energy in the second quarter worth $126,000. Thrivent Financial For Lutherans increased its stake in shares of Chesapeake Energy by 4.2% in the second quarter. Thrivent Financial For Lutherans now owns 30,015 shares of the oil and gas exploration company’s stock worth $149,000 after buying an additional 1,200 shares during the last quarter. Finally, Sapphire Star Partners LP bought a new stake in shares of Chesapeake Energy in the third quarter worth $143,000. Institutional investors own 63.80% of the company’s stock.

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Chesapeake Energy 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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