Trading Report: The Chesapeake Energy Corp. (CHK) Bonds Rise 1.3% During Trading

The Chesapeake Energy Corp. (CHK) Bonds Rise 1.3% During Trading

An issue of Chesapeake Energy Corp. (NYSE:CHK) bonds rose 1.3% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 5.75% coupon and will mature on March 15, 2023. The debt is now trading at $87.75 and was trading at $85.00 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

Several analysts have recently commented on CHK shares. Vetr upgraded Chesapeake Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $7.06 target price on the stock in a report on Monday, September 5th. Nomura restated a “sell” rating and set a $17.00 target price on shares of Chesapeake Energy Corp. in a report on Monday, September 26th. SunTrust Banks Inc. set a $11.00 price target on Chesapeake Energy Corp. and gave the company a “buy” rating in a report on Monday, September 12th. Simmons upgraded Chesapeake Energy Corp. from an “underweight” rating to a “neutral” rating and set a $4.50 price target on the stock in a report on Tuesday, July 12th. Finally, Zacks Investment Research upgraded Chesapeake Energy Corp. from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a report on Tuesday, July 5th. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Chesapeake Energy Corp. presently has a consensus rating of “Hold” and an average target price of $7.57.

Chesapeake Energy Corp. (NYSE:CHK) opened at 6.28 on Wednesday. Chesapeake Energy Corp. has a 52 week low of $1.50 and a 52 week high of $8.49. The company’s market capitalization is $4.81 billion. The stock’s 50 day moving average price is $6.70 and its 200 day moving average price is $5.31.

Chesapeake Energy Corp. (NYSE:CHK) last posted its quarterly earnings results on Thursday, August 4th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03. Chesapeake Energy Corp. had a negative return on equity of 16.16% and a negative net margin of 104.29%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company posted ($0.11) earnings per share. The firm’s quarterly revenue was down 53.9% compared to the same quarter last year. Analysts anticipate that Chesapeake Energy Corp. will post ($0.21) earnings per share for the current year.

In other news, Director Archie W. Dunham purchased 350,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were acquired at an average cost of $6.07 per share, with a total value of $2,124,500.00. Following the purchase, the director now owns 3,127,951 shares in the company, valued at $18,986,662.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Archie W. Dunham purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The shares were purchased at an average cost of $6.67 per share, for a total transaction of $6,670,000.00. Following the completion of the purchase, the director now owns 4,127,951 shares in the company, valued at approximately $27,533,433.17. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CHK. Quotient Investors LLC purchased a new position in Chesapeake Energy Corp. during the second quarter worth $2,034,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of Chesapeake Energy Corp. by 14.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 499,601 shares of the oil and gas exploration company’s stock valued at $2,139,000 after buying an additional 63,014 shares during the period. Exxonmobil Investment Management Inc. TX increased its stake in shares of Chesapeake Energy Corp. by 20.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 151,386 shares of the oil and gas exploration company’s stock valued at $648,000 after buying an additional 25,407 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of Chesapeake Energy Corp. during the first quarter valued at approximately $149,000. Finally, A.R.T. Advisors LLC increased its stake in shares of Chesapeake Energy Corp. by 17.2% in the first quarter. A.R.T. Advisors LLC now owns 673,269 shares of the oil and gas exploration company’s stock valued at $2,773,000 after buying an additional 98,997 shares during the period. 63.89% of the stock is currently owned by institutional investors and hedge funds.

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