Chesapeake Energy (NYSE:CHK)‘s stock had its “hold” rating reissued by equities research analysts at Morgan Stanley in a report issued on Friday. They presently have a $6.00 price objective on the oil and gas exploration company’s stock, up from their previous price objective of $5.00. Morgan Stanley’s price objective would indicate a potential upside of 34.83% from the company’s current price.
CHK has been the subject of a number of other reports. ValuEngine upgraded Chesapeake Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 8th. Citigroup boosted their price objective on Chesapeake Energy from $2.50 to $3.50 and gave the company a “sell” rating in a research report on Monday, July 30th. Bank of America upgraded Chesapeake Energy from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $4.00 to $6.00 in a research report on Friday, July 27th. Piper Jaffray Companies restated a “hold” rating and issued a $5.00 price objective on shares of Chesapeake Energy in a research report on Friday, July 20th. Finally, SunTrust Banks cut Chesapeake Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Chesapeake Energy currently has a consensus rating of “Hold” and an average target price of $4.96.
Shares of CHK stock opened at $4.45 on Friday. The company has a debt-to-equity ratio of -5.17, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $4.10 billion, a P/E ratio of 5.43, a P/E/G ratio of 0.54 and a beta of 1.86. Chesapeake Energy has a twelve month low of $2.53 and a twelve month high of $5.60.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings results on Wednesday, August 1st. The oil and gas exploration company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Chesapeake Energy had a negative return on equity of 46.15% and a net margin of 6.16%. Chesapeake Energy’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. As a group, equities analysts predict that Chesapeake Energy will post 0.81 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Management LLC purchased a new stake in shares of Chesapeake Energy during the second quarter worth approximately $2,465,000. LMR Partners LLP purchased a new stake in shares of Chesapeake Energy during the second quarter worth approximately $123,000. American Century Companies Inc. purchased a new stake in shares of Chesapeake Energy during the second quarter worth approximately $128,000. WESPAC Advisors SoCal LLC purchased a new stake in shares of Chesapeake Energy during the second quarter worth approximately $131,000. Finally, Virtu Financial LLC purchased a new stake in shares of Chesapeake Energy during the second quarter worth approximately $135,000. Hedge funds and other institutional investors own 57.33% of the company’s stock.
Chesapeake Energy Company Profile
Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.
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