Chesapeake Energy Corporation (CHK) Now Covered by Analysts at Imperial Capital
Analysts at Imperial Capital initiated coverage on shares of Chesapeake Energy Corporation (NYSE:CHK) in a report released on Tuesday, MarketBeat.com reports. The brokerage set an “in-line” rating and a $5.00 price target on the oil and gas exploration company’s stock. Imperial Capital’s price objective indicates a potential upside of 18.48% from the company’s current price. Imperial Capital also issued estimates for Chesapeake Energy Corporation’s Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.54 EPS and FY2018 earnings at $0.44 EPS.
A number of other equities research analysts also recently commented on the stock. Piper Jaffray Companies dropped their price objective on shares of Chesapeake Energy Corporation from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, September 18th. Tudor Pickering downgraded shares of Chesapeake Energy Corporation from a “buy” rating to a “hold” rating and increased their price objective for the company from $3.76 to $4.00 in a research report on Tuesday, September 5th. ValuEngine downgraded shares of Chesapeake Energy Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Chesapeake Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, BMO Capital Markets set a $3.00 price objective on shares of Chesapeake Energy Corporation and gave the company a “hold” rating in a research report on Saturday, August 12th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.29.
Shares of Chesapeake Energy Corporation (NYSE:CHK) traded up 1.20% during midday trading on Tuesday, reaching $4.22. 18,635,374 shares of the company’s stock traded hands. The stock’s market capitalization is $3.76 billion. Chesapeake Energy Corporation has a 1-year low of $3.55 and a 1-year high of $8.20. The firm’s 50-day moving average price is $3.99 and its 200 day moving average price is $4.93.
Chesapeake Energy Corporation (NYSE:CHK) last announced its earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned ($0.14) EPS. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. On average, equities analysts predict that Chesapeake Energy Corporation will post $0.74 earnings per share for the current fiscal year.
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In related news, Director R Brad Martin acquired 25,000 shares of Chesapeake Energy Corporation stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $4.11 per share, for a total transaction of $102,750.00. Following the completion of the purchase, the director now directly owns 547,358 shares of the company’s stock, valued at $2,249,641.38. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Archford Capital Strategies LLC acquired a new stake in shares of Chesapeake Energy Corporation in the second quarter valued at about $984,000. Cleararc Capital Inc. increased its holdings in Chesapeake Energy Corporation by 2.8% during the 1st quarter. Cleararc Capital Inc. now owns 18,627 shares of the oil and gas exploration company’s stock valued at $111,000 after acquiring an additional 508 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Chesapeake Energy Corporation during the 2nd quarter valued at about $115,000. Advisory Services Network LLC increased its holdings in Chesapeake Energy Corporation by 42.6% during the 2nd quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock valued at $116,000 after acquiring an additional 7,000 shares in the last quarter. Finally, UBS Oconnor LLC purchased a new position in Chesapeake Energy Corporation during the 2nd quarter valued at about $122,000. Hedge funds and other institutional investors own 64.46% of the company’s stock.
About Chesapeake Energy Corporation
Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.
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