Chesapeake Energy (NYSE:CHK) Downgraded by Tudor Pickering to Sell

Tudor Pickering lowered shares of Chesapeake Energy (NYSE:CHK) from a hold rating to a sell rating in a research report report published on Wednesday morning, Automated Import reports.

A number of other research analysts also recently weighed in on the company. MKM Partners dropped coverage on Chesapeake Energy in a report on Tuesday, October 8th. Raymond James downgraded Chesapeake Energy from an outperform rating to a market perform rating in a report on Thursday, August 8th. Morgan Stanley lowered their target price on Chesapeake Energy from $2.50 to $2.25 and set an overweight rating on the stock in a report on Monday, October 14th. SunTrust Banks set a $2.00 target price on Chesapeake Energy and gave the company a hold rating in a report on Wednesday, August 7th. Finally, ValuEngine raised Chesapeake Energy from a sell rating to a hold rating in a report on Monday, November 4th. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $2.88.

Shares of NYSE:CHK traded down $0.01 during midday trading on Wednesday, reaching $0.90. 66,861,910 shares of the company’s stock traded hands, compared to its average volume of 52,292,363. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 1.00 and a beta of 2.45. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.62 and a current ratio of 0.60. Chesapeake Energy has a one year low of $0.79 and a one year high of $3.78. The stock has a 50 day moving average of $1.37 and a 200 day moving average of $1.79.

Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas exploration company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Chesapeake Energy had a net margin of 5.46% and a return on equity of 9.01%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. Sell-side analysts predict that Chesapeake Energy will post -0.29 EPS for the current fiscal year.

In related news, CEO Robert D. Lawler purchased 50,000 shares of Chesapeake Energy stock in a transaction on Wednesday, November 6th. The stock was acquired at an average price of $0.91 per share, for a total transaction of $45,500.00. Following the completion of the transaction, the chief executive officer now directly owns 5,133,298 shares in the company, valued at approximately $4,671,301.18. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R Brad Martin bought 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $0.91 per share, with a total value of $227,500.00. Corporate insiders own 1.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CHK. Cresset Asset Management LLC purchased a new position in Chesapeake Energy during the 2nd quarter valued at approximately $30,000. Howard Financial Services LTD. lifted its stake in shares of Chesapeake Energy by 75.0% in the 2nd quarter. Howard Financial Services LTD. now owns 17,500 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 7,500 shares during the last quarter. XR Securities LLC bought a new stake in shares of Chesapeake Energy in the 3rd quarter valued at approximately $25,000. Enlightenment Research LLC bought a new stake in shares of Chesapeake Energy in the 2nd quarter valued at approximately $52,000. Finally, Spears Abacus Advisors LLC bought a new stake in shares of Chesapeake Energy in the 2nd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 68.67% of the company’s stock.

Chesapeake Energy Company Profile

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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

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