Chesapeake Energy Corp.’s (CHK) Neutral Rating Reiterated at Citigroup Inc.
Chesapeake Energy Corp. (NYSE:CHK)‘s stock had its “neutral” rating reiterated by Citigroup Inc. in a research report issued on Tuesday. They presently have a $8.00 target price on the oil and gas exploration company’s stock. Citigroup Inc.’s price target points to a potential upside of 25.98% from the company’s previous close.
Other analysts have also issued research reports about the company. Jefferies Group upped their target price on Chesapeake Energy Corp. from $3.00 to $4.00 and gave the stock an “underperform” rating in a report on Friday, August 5th. Piper Jaffray Cos. upgraded Chesapeake Energy Corp. from an “underweight” rating to a “neutral” rating and set a $4.50 target price for the company in a report on Tuesday, July 12th. RBC Capital Markets reiterated an “underperform” rating on shares of Chesapeake Energy Corp. in a report on Wednesday, August 10th. Capital One Financial Corp. upgraded Chesapeake Energy Corp. from an “underweight” rating to an “equal weight” rating in a report on Tuesday, August 16th. Finally, S&P Equity Research reiterated a “hold” rating on shares of Chesapeake Energy Corp. in a report on Thursday, August 18th. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.66.
Shares of Chesapeake Energy Corp. (NYSE:CHK) traded up 2.598% during mid-day trading on Tuesday, hitting $6.515. The company had a trading volume of 33,376,128 shares. The company has a 50-day moving average price of $6.71 and a 200-day moving average price of $5.38. Chesapeake Energy Corp. has a 1-year low of $1.50 and a 1-year high of $8.33. The company’s market capitalization is $4.99 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/chesapeake-energy-corp-s-chk-neutral-rating-reiterated-at-citigroup-inc.html
Chesapeake Energy Corp. (NYSE:CHK) last posted its 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. 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 firm’s quarterly revenue was down 53.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, equities analysts anticipate that Chesapeake Energy Corp. will post ($0.21) EPS for the current year.
In other news, Director Archie W. Dunham acquired 350,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was acquired at an average cost of $6.07 per share, with a total value of $2,124,500.00. Following the transaction, the director now owns 3,127,951 shares in the company, valued at $18,986,662.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Archie W. Dunham acquired 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were purchased at an average cost of $6.67 per share, with a total value of $6,670,000.00. Following the completion of the transaction, 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. Insiders own 1.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CHK. First Allied Advisory Services Inc. boosted its stake in Chesapeake Energy Corp. by 0.8% in the second quarter. First Allied Advisory Services Inc. now owns 33,417 shares of the oil and gas exploration company’s stock valued at $134,000 after buying an additional 249 shares during the period. Carnegie Capital Asset Management LLC boosted its stake in 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. Public Employees Retirement Association of Colorado boosted its stake in Chesapeake Energy Corp. by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 137,030 shares of the oil and gas exploration company’s stock valued at $586,000 after buying an additional 707 shares during the period. Wedbush Securities Inc. boosted its stake in Chesapeake Energy Corp. by 2.8% in the second quarter. Wedbush Securities Inc. now owns 33,235 shares of the oil and gas exploration company’s stock valued at $142,000 after buying an additional 913 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in Chesapeake Energy Corp. by 1.3% in the second quarter. Baird Financial Group Inc. now owns 94,690 shares of the oil and gas exploration company’s stock valued at $405,000 after buying an additional 1,222 shares during the period. 63.87% of the stock is owned by institutional investors and hedge funds.
Chesapeake Energy Corp. Company Profile
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.
Receive News & Ratings for Chesapeake Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.