Chesapeake Energy Co. (NYSE:CHK) – Research analysts at Piper Jaffray Companies raised their FY2018 earnings per share estimates for Chesapeake Energy in a note issued to investors on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now expects that the oil and gas exploration company will earn $0.84 per share for the year, up from their previous estimate of $0.83. Piper Jaffray Companies has a “Hold” rating and a $5.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Chesapeake Energy’s Q4 2018 earnings at $0.13 EPS, Q1 2019 earnings at $0.13 EPS, FY2019 earnings at $0.35 EPS, Q1 2020 earnings at $0.12 EPS, Q2 2020 earnings at $0.05 EPS, Q3 2020 earnings at $0.06 EPS, Q4 2020 earnings at $0.08 EPS and FY2020 earnings at $0.31 EPS.
Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Chesapeake Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. Imperial Capital cut their price target on Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating on the stock in a research note on Thursday. Raymond James raised their price objective on Chesapeake Energy from $3.50 to $4.00 and gave the stock an “outperform” rating in a research note on Friday. Capital One Financial cut Chesapeake Energy from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Finally, UBS Group set a $3.00 price objective on Chesapeake Energy and gave the stock a “sell” rating in a report on Monday, December 10th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Chesapeake Energy presently has an average rating of “Hold” and an average target price of $4.45.
Chesapeake Energy (NYSE:CHK) last announced its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. Chesapeake Energy had a negative return on equity of 54.07% and a net margin of 6.91%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $0.12 EPS. The company’s revenue was up 22.5% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in CHK. American Century Companies Inc. bought a new stake in shares of Chesapeake Energy in the 2nd quarter worth $128,000. Smart Money Group LLC bought a new stake in shares of Chesapeake Energy during the 3rd quarter worth about $129,000. Carnegie Capital Asset Management LLC lifted its position in shares of Chesapeake Energy by 174.4% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 45,000 shares of the oil and gas exploration company’s stock worth $161,000 after purchasing an additional 28,600 shares during the last quarter. Lourd Capital LLC acquired a new position in Chesapeake Energy in the 3rd quarter valued at approximately $162,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Chesapeake Energy in the 3rd quarter worth approximately $163,000. Institutional investors and hedge funds own 58.68% of the company’s stock.
In related news, Director Archie W. Dunham acquired 2,100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The shares were acquired at an average price of $1.97 per share, with a total value of $4,137,000.00. Following the completion of the purchase, the director now directly owns 9,347,375 shares in the company, valued at $18,414,328.75. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director R Brad Martin purchased 25,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was acquired at an average cost of $2.35 per share, for a total transaction of $58,750.00. Following the completion of the purchase, the director now owns 752,900 shares in the company, valued at approximately $1,769,315. The disclosure for this purchase can be found here. Insiders bought 3,855,000 shares of company stock valued at $7,965,650 over the last three months. Corporate insiders own 1.70% of the company’s stock.
About Chesapeake Energy
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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