Todays Report: The Chesapeake Energy Corp. (CHK) Rating Reiterated by Wunderlich

The Chesapeake Energy Corp. (CHK) Rating Reiterated by Wunderlich

Chesapeake Energy Corp. (NYSE:CHK)‘s stock had its “buy” rating reissued by analysts at Wunderlich in a research report issued to clients and investors on Saturday. They presently have a $10.00 price objective on the oil and gas exploration company’s stock. Wunderlich’s price objective points to a potential upside of 57.48% from the stock’s previous close.

Several other brokerages have also weighed in on CHK. FBR & Co assumed coverage on shares of Chesapeake Energy Corp. in a research note on Tuesday, September 13th. They set an “underperform” rating and a $5.00 target price for the company. SunTrust Banks Inc. set a $11.00 target price on shares of Chesapeake Energy Corp. and gave the stock a “buy” rating in a research note on Monday, September 12th. Vetr raised shares of Chesapeake Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $11.30 target price for the company in a research note on Monday, September 12th. Nomura reissued a “sell” rating and set a $17.00 price target on shares of Chesapeake Energy Corp. in a research report on Monday, September 26th. Finally, S&P Equity Research reissued a “hold” rating on shares of Chesapeake Energy Corp. in a research report on Thursday, August 18th. Seven analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $7.57.

Chesapeake Energy Corp. (NYSE:CHK) opened at 6.35 on Friday. The stock has a 50 day moving average of $6.69 and a 200-day moving average of $5.27. The stock’s market cap is $4.87 billion. Chesapeake Energy Corp. has a 12 month low of $1.50 and a 12 month high of $8.87.

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Chesapeake Energy Corp. (NYSE:CHK) last announced its earnings results on Thursday, August 4th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The company 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 quarterly revenue was down 53.9% compared to the same quarter last year. During the same period last year, the business earned ($0.11) EPS. On average, equities analysts forecast that Chesapeake Energy Corp. will post ($0.21) EPS for the current fiscal year.

In other news, Director Archie W. Dunham purchased 1,000,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was acquired at an average price of $6.67 per share, with a total value of $6,670,000.00. Following the purchase, the director now directly owns 4,127,951 shares of the company’s stock, valued at approximately $27,533,433.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Archie W. Dunham purchased 350,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were purchased at an average cost of $6.07 per share, with a total value of $2,124,500.00. Following the purchase, the director now directly owns 3,127,951 shares in the company, valued at $18,986,662.57. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHK. Prudential Financial Inc. increased 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. TIAA CREF Investment Management LLC increased 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. California Public Employees Retirement System increased 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 increased 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 increased 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. 63.89% of the stock is owned by institutional investors and hedge funds.

About Chesapeake Energy Corp.

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