Trade Report: The Chesapeake Energy Corp. (CHK) Receives $7.76 Average PT from Analysts

The Chesapeake Energy Corp. (CHK) Receives $7.76 Average PT from Analysts

Shares of Chesapeake Energy Corp. (NYSE:CHK) have been assigned a consensus recommendation of “Hold” from the thirty-four ratings firms that are covering the stock. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $7.76.

Several research analysts recently issued reports on CHK shares. Vetr raised shares of Chesapeake Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $7.06 price target for the company in a report on Monday, September 5th. Nomura reissued a “sell” rating and set a $17.00 price target on shares of Chesapeake Energy Corp. in a report on Monday, September 26th. SunTrust Banks Inc. set a $11.00 price target on shares of Chesapeake Energy Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. Bank of America Corp. raised shares of Chesapeake Energy Corp. from an “underperform” rating to a “neutral” rating and set a $10.00 target price for the company in a report on Friday, October 21st. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $7.00 target price (up from $4.00) on shares of Chesapeake Energy Corp. in a report on Monday, October 24th.

In other Chesapeake Energy Corp. news, Director Archie W. Dunham purchased 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was acquired at an average cost of $6.67 per share, with a total value of $6,670,000.00. Following the acquisition, the director now owns 4,127,951 shares of the company’s stock, valued at approximately $27,533,433.17. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas L. Ryan purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was acquired at an average cost of $5.59 per share, with a total value of $279,500.00. Following the completion of the acquisition, the director now directly owns 246,269 shares in the company, valued at approximately $1,376,643.71. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CHK. TIAA CREF Investment Management LLC raised its position in Chesapeake Energy Corp. by 37.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,617,988 shares of the oil and gas exploration company’s stock valued at $6,666,000 after buying an additional 441,582 shares during the period. Prudential Financial Inc. raised its position in Chesapeake Energy Corp. by 6.6% in the first quarter. Prudential Financial Inc. now owns 683,801 shares of the oil and gas exploration company’s stock valued at $2,817,000 after buying an additional 42,503 shares during the period. California Public Employees Retirement System raised its position in Chesapeake Energy Corp. by 17.6% in the second quarter. California Public Employees Retirement System now owns 4,892,674 shares of the oil and gas exploration company’s stock valued at $20,941,000 after buying an additional 730,500 shares during the period. HBK Investments L P raised its position in Chesapeake Energy Corp. by 119.5% in the first quarter. HBK Investments L P now owns 458,836 shares of the oil and gas exploration company’s stock valued at $1,890,000 after buying an additional 2,807,042 shares during the period. Finally, A.R.T. Advisors LLC raised its position in 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. 64.15% of the stock is owned by institutional investors and hedge funds.

Chesapeake Energy Corp. (NYSE:CHK) opened at 5.79 on Wednesday. The firm’s market capitalization is $4.44 billion. Chesapeake Energy Corp. has a one year low of $1.50 and a one year high of $8.15. The stock’s 50 day moving average price is $6.63 and its 200 day moving average price is $5.51.

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 (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.03. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Chesapeake Energy Corp. had a negative return on equity of 16.16% and a negative net margin of 104.29%. The company’s revenue for the quarter was down 53.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) earnings per share. Analysts expect that Chesapeake Energy Corp. will post ($0.22) EPS for the current year.

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