Chesapeake Energy Corporation (CHK) Announces Quarterly Earnings Results
Chesapeake Energy Corporation (NYSE:CHK) posted its quarterly earnings results on Thursday. The oil and gas exploration company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02, RTT News reports. Chesapeake Energy Corporation had a negative return on equity of 16.10% and a negative net margin of 9.52%. The firm had revenue of $979.00 million during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was down 16.8% on a year-over-year basis.
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In other Chesapeake Energy Corporation news, Director R Brad Martin purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $4.11 per share, for a total transaction of $102,750.00. Following the completion of the acquisition, the director now owns 547,358 shares of the company’s stock, valued at approximately $2,249,641.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.
CHK has been the subject of a number of analyst reports. Piper Jaffray Companies set a $4.00 price target on Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Thursday, October 19th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Chesapeake Energy Corporation in a report on Friday, July 21st. Scotiabank set a $5.00 price target on Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. BidaskClub lowered Chesapeake Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Vetr lowered Chesapeake Energy Corporation from a “strong-buy” rating to a “buy” rating and set a $5.23 price target for the company. in a report on Monday, July 17th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $5.84.
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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