Chesapeake Energy Corporation (CHK) Price Target Raised to $3.00 at Barclays PLC
Chesapeake Energy Corporation (NYSE:CHK) had its price objective increased by equities research analysts at Barclays PLC from $2.00 to $3.00 in a research note issued on Wednesday. The brokerage presently has an “underweight” rating on the oil and gas exploration company’s stock. Barclays PLC’s target price suggests a potential downside of 23.27% from the company’s previous close.
A number of other research analysts have also recently commented on the stock. BMO Capital Markets set a $3.00 price target on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Tuesday. Jefferies Group LLC cut shares of Chesapeake Energy Corporation from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $4.00 to $2.00 in a report on Monday. ValuEngine upgraded shares of Chesapeake Energy Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Mizuho reiterated a “hold” rating and set a $5.00 target price on shares of Chesapeake Energy Corporation in a report on Friday, September 29th. Finally, Imperial Capital began coverage on shares of Chesapeake Energy Corporation in a report on Tuesday, September 19th. They set an “in-line” rating and a $5.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.01.
Shares of Chesapeake Energy Corporation (NYSE:CHK) traded down 1.662% during midday trading on Wednesday, hitting $3.845. 15,938,354 shares of the stock were exchanged. The stock’s market cap is $3.49 billion. The firm has a 50 day moving average of $4.00 and a 200-day moving average of $4.83. Chesapeake Energy Corporation has a 12 month low of $3.55 and a 12 month high of $8.20.
Chesapeake Energy Corporation (NYSE:CHK) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) earnings per share. Equities research analysts anticipate that Chesapeake Energy Corporation will post $0.72 EPS for the current year.
In other Chesapeake Energy Corporation news, Director R Brad Martin purchased 25,000 shares of Chesapeake Energy Corporation stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $4.11 per share, with a total value of $102,750.00. Following the transaction, the director now owns 547,358 shares of the company’s stock, valued at approximately $2,249,641.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.14% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Fox Run Management L.L.C. purchased a new position in Chesapeake Energy Corporation during the 2nd quarter worth approximately $115,000. Advisory Services Network LLC raised its position 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 worth $116,000 after buying an additional 7,000 shares during the last quarter. UBS Oconnor LLC purchased a new position in Chesapeake Energy Corporation during the 2nd quarter worth approximately $122,000. Gotham Asset Management LLC purchased a new position in Chesapeake Energy Corporation during the 2nd quarter worth approximately $126,000. Finally, HRT Financial LLC purchased a new position in Chesapeake Energy Corporation during the 2nd quarter worth approximately $131,000. 64.56% of the stock is owned by institutional investors.
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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