Chesapeake Energy Sees Large Decrease in Short Interest (CHK)
Chesapeake Energy (NYSE:CHK) was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 50,094,206 shares, a decline of 6.2% from the April 15th total of 53,427,187 shares, American Banking and Market News reports. Based on an average trading volume of 7,466,513 shares, the days-to-cover ratio is presently 6.7 days. Approximately 7.7% of the shares of the stock are short sold.
In other Chesapeake Energy news, Director Thomas Ryan acquired 4,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $27.98 per share, with a total value of $111,920.00. Following the transaction, the director now directly owns 63,414 shares in the company, valued at approximately $1,774,324. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
CHK has been the subject of a number of recent research reports. Analysts at Oppenheimer raised their price target on shares of Chesapeake Energy from $30.00 to $35.00 in a research note on Wednesday, May 21st. They now have an “outperform” rating on the stock. Separately, analysts at Ned Davis Research upgraded shares of Chesapeake Energy from a “sell” rating to a “neutral” rating in a research note on Monday, May 19th. Finally, analysts at Jefferies Group raised their price target on shares of Chesapeake Energy from $31.00 to $35.00 in a research note on Monday, May 19th. They now have a “buy” rating on the stock. Sixteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $28.95.
Shares of Chesapeake Energy (NYSE:CHK) opened at 27.68 on Monday. Chesapeake Energy has a 1-year low of $19.32 and a 1-year high of $30.48. The stock’s 50-day moving average is $28.12 and its 200-day moving average is $26.62. The company has a market cap of $17.961 billion and a price-to-earnings ratio of 21.97.
Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.11. The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter last year, the company posted $0.30 earnings per share. Chesapeake Energy’s revenue was up 47.4% compared to the same quarter last year. Analysts expect that Chesapeake Energy will post $2.04 EPS for the current fiscal year.
Chesapeake Energy Corporation (NYSE:CHK) is a natural gas and oil exploration and production company.
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