Chesapeake Energy Corp. (CHK) Earns Neutral Rating from Citigroup Inc.
Chesapeake Energy Corp. (NYSE:CHK)‘s stock had its “neutral” rating restated by analysts at Citigroup Inc. in a note issued to investors on Tuesday. They currently have a $8.00 price objective on the oil and gas exploration company’s stock. Citigroup Inc.’s target price points to a potential upside of 25.98% from the stock’s current price.
Several other research firms also recently commented on CHK. Vetr upgraded 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 report on Monday, September 12th. Johnson Rice upgraded Chesapeake Energy Corp. from a “hold” rating to an “accumulate” rating in a research report on Tuesday, July 26th. Zacks Investment Research upgraded Chesapeake Energy Corp. from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, July 27th. Capital One Financial Corp. upgraded Chesapeake Energy Corp. from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, August 16th. Finally, Deutsche Bank AG increased their target price on Chesapeake Energy Corp. from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Thursday, August 18th. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Chesapeake Energy Corp. currently has an average rating of “Hold” and an average price target of $7.66.
Chesapeake Energy Corp. (NYSE:CHK) traded up 2.68% during trading on Tuesday, hitting $6.52. The stock had a trading volume of 33,370,136 shares. The firm’s market capitalization is $5.00 billion. Chesapeake Energy Corp. has a one year low of $1.50 and a one year high of $8.33. The stock has a 50 day moving average of $6.71 and a 200 day moving average of $5.37.
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Chesapeake Energy Corp. (NYSE:CHK) last posted its earnings results on Thursday, August 4th. The oil and gas exploration company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by $0.03. The firm earned $1.62 billion during the quarter, compared to the consensus estimate of $1.91 billion. Chesapeake Energy Corp. had a negative net margin of 104.29% and a negative return on equity of 16.16%. Chesapeake Energy Corp.’s revenue for the quarter was down 53.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.11) earnings per share. Equities research analysts expect that Chesapeake Energy Corp. will post ($0.21) earnings per share for the current fiscal year.
In other news, Director Archie W. Dunham bought 1,000,000 shares of the stock in a transaction 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 directly owns 4,127,951 shares in the company, valued at approximately $27,533,433.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas L. Ryan bought 50,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was purchased at an average price of $5.59 per share, for a total transaction of $279,500.00. Following the completion of the purchase, the director now owns 246,269 shares of the company’s stock, valued at $1,376,643.71. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Chesapeake Energy Corp. during the second quarter valued at $101,000. Carnegie Capital Asset Management LLC boosted its position in shares of Chesapeake Energy Corp. by 1.7% in the second quarter. Carnegie Capital Asset Management LLC now owns 24,100 shares of the oil and gas exploration company’s stock valued at $125,000 after buying an additional 400 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Chesapeake Energy Corp. during the second quarter valued at $110,000. Norinchukin Bank The boosted its position in shares of Chesapeake Energy Corp. by 15.5% in the second quarter. Norinchukin Bank The now owns 30,675 shares of the oil and gas exploration company’s stock valued at $131,000 after buying an additional 4,121 shares during the period. Finally, Veritable L.P. bought a new position in shares of Chesapeake Energy Corp. during the second quarter valued at $141,000. Hedge funds and other institutional investors own 63.87% of the company’s stock.
About Chesapeake Energy Corp.
Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.
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