Chesapeake Energy (CHK) Stock Price Up 5.8%

Chesapeake Energy Co. (NYSE:CHK) shares rose 5.8% on Monday . The company traded as high as $3.10 and last traded at $3.09. Approximately 29,303,959 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 34,339,762 shares. The stock had previously closed at $2.92.

CHK has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on Chesapeake Energy in a report on Thursday, October 4th. They issued an “equal weight” rating and a $5.00 target price on the stock. SunTrust Banks lowered Chesapeake Energy from a “buy” rating to a “hold” rating in a report on Monday, September 24th. They noted that the move was a valuation call. Wolfe Research lowered Chesapeake Energy from a “peer perform” rating to an “underperform” rating in a report on Thursday, August 16th. Raymond James upgraded Chesapeake Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 1st. Finally, UBS Group upgraded Chesapeake Energy from a “neutral” rating to a “positive” rating in a report on Wednesday, October 31st. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.90.

The firm has a market capitalization of $2.67 billion, a P/E ratio of 3.77, a price-to-earnings-growth ratio of 0.36 and a beta of 1.93.

Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Chesapeake Energy had a negative return on equity of 54.07% and a net margin of 6.91%. Chesapeake Energy’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. Sell-side analysts forecast that Chesapeake Energy Co. will post 0.85 earnings per share for the current fiscal year.

In other Chesapeake Energy news, EVP James R. Webb purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were acquired at an average cost of $3.54 per share, for a total transaction of $177,000.00. Following the completion of the acquisition, the executive vice president now owns 871,548 shares of the company’s stock, valued at approximately $3,085,279.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of CHK. Principal Financial Group Inc. lifted its holdings in Chesapeake Energy by 181.6% during the first quarter. Principal Financial Group Inc. now owns 3,972,965 shares of the oil and gas exploration company’s stock worth $11,998,000 after acquiring an additional 2,561,947 shares during the period. Virtu Financial LLC bought a new stake in Chesapeake Energy during the second quarter worth $135,000. Wedge Capital Management L L P NC bought a new stake in Chesapeake Energy during the second quarter worth $972,000. Crossmark Global Holdings Inc. raised its stake in shares of Chesapeake Energy by 476.9% in the second quarter. Crossmark Global Holdings Inc. now owns 86,384 shares of the oil and gas exploration company’s stock valued at $453,000 after buying an additional 71,410 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Chesapeake Energy by 194.0% in the second quarter. First Trust Advisors LP now owns 1,474,809 shares of the oil and gas exploration company’s stock valued at $7,728,000 after buying an additional 973,246 shares during the period. Institutional investors and hedge funds own 58.71% of the company’s stock.

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Chesapeake Energy Company Profile (NYSE:CHK)

Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.

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