Chesapeake Energy (NYSE:CHK) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of Chesapeake Energy (NYSE:CHK) from a sell rating to a hold rating in a report issued on Tuesday morning, ValuEngine reports.

Other equities research analysts have also issued research reports about the company. SunTrust Banks set a $2.00 price target on Chesapeake Energy and gave the company a hold rating in a research report on Wednesday, August 7th. MKM Partners dropped coverage on Chesapeake Energy in a research report on Tuesday, October 8th. Morgan Stanley lowered Chesapeake Energy from an overweight rating to an equal weight rating and cut their price objective for the stock from $2.25 to $1.25 in a research note on Wednesday, November 13th. Johnson Rice cut Chesapeake Energy from an accumulate rating to a hold rating in a report on Tuesday, November 19th. Finally, Scotiabank raised shares of Chesapeake Energy from a sector perform rating to a sector outperform rating in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Chesapeake Energy currently has an average rating of Hold and a consensus target price of $2.57.

CHK stock opened at $0.64 on Tuesday. The company has a market capitalization of $1.16 billion, a P/E ratio of 0.71 and a beta of 2.27. The company has a fifty day moving average price of $1.01 and a 200-day moving average price of $1.53. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.60 and a current ratio of 0.60. Chesapeake Energy has a 52-week low of $0.55 and a 52-week high of $3.57.

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

In related news, CEO Robert D. Lawler bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average cost of $0.91 per share, with a total value of $45,500.00. Following the completion of the purchase, the chief executive officer now directly owns 5,133,298 shares in the company, valued at $4,671,301.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 bought at an average cost of $0.91 per share, for a total transaction of $227,500.00. In the last 90 days, insiders have purchased 370,681 shares of company stock worth $323,184. 1.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Chesapeake Energy by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 421,806 shares of the oil and gas exploration company’s stock worth $823,000 after purchasing an additional 5,975 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in Chesapeake Energy by 32.8% in the second quarter. Providence Capital Advisors LLC now owns 30,120 shares of the oil and gas exploration company’s stock worth $59,000 after acquiring an additional 7,435 shares in the last quarter. Howard Financial Services LTD. boosted its holdings in Chesapeake Energy by 75.0% in the second quarter. Howard Financial Services LTD. now owns 17,500 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 7,500 shares in the last quarter. Brave Asset Management Inc. boosted its holdings in Chesapeake Energy by 9.4% in the third quarter. Brave Asset Management Inc. now owns 90,990 shares of the oil and gas exploration company’s stock worth $128,000 after acquiring an additional 7,850 shares in the last quarter. Finally, Dupont Capital Management Corp grew its stake in Chesapeake Energy by 7.8% in the second quarter. Dupont Capital Management Corp now owns 110,582 shares of the oil and gas exploration company’s stock valued at $216,000 after acquiring an additional 8,000 shares during the period. Hedge funds and other institutional investors own 69.69% 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 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.

Featured Article: How to use beta for portfolio diversification

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Chesapeake Energy (NYSE:CHK)

Receive News & Ratings for Chesapeake Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Energy and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit