Chesapeake Energy Co. (NYSE:CHK) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 207,707,673 shares, a growth of 15.8% from the February 15th total of 179,368,170 shares. Approximately 31.8% of the company’s stock are sold short. Based on an average daily volume of 53,265,782 shares, the days-to-cover ratio is currently 3.9 days.
Several large investors have recently modified their holdings of the business. Guggenheim Capital LLC raised its holdings in shares of Chesapeake Energy by 21.5% during the fourth quarter. Guggenheim Capital LLC now owns 11,511,578 shares of the oil and gas exploration company’s stock worth $45,586,000 after purchasing an additional 2,035,111 shares during the period. Geode Capital Management LLC raised its holdings in shares of Chesapeake Energy by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 10,624,320 shares of the oil and gas exploration company’s stock worth $42,009,000 after purchasing an additional 376,710 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Chesapeake Energy by 0.5% during the fourth quarter. Mackenzie Financial Corp now owns 9,531,633 shares of the oil and gas exploration company’s stock worth $37,745,000 after purchasing an additional 50,413 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Chesapeake Energy by 6.3% during the third quarter. Bank of New York Mellon Corp now owns 6,784,218 shares of the oil and gas exploration company’s stock worth $29,172,000 after purchasing an additional 402,974 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Chesapeake Energy by 5.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 6,548,735 shares of the oil and gas exploration company’s stock worth $25,933,000 after purchasing an additional 367,150 shares during the period. 61.89% of the stock is currently owned by institutional investors.
CHK has been the topic of several analyst reports. Credit Suisse Group initiated coverage on shares of Chesapeake Energy in a research report on Monday, December 11th. They set an “underperform” rating and a $3.00 target price for the company. ValuEngine lowered shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. SunTrust Banks reissued a “buy” rating and issued a $6.00 price objective on shares of Chesapeake Energy in a research report on Wednesday, January 3rd. Piper Jaffray reissued a “hold” rating and issued a $5.00 price objective on shares of Chesapeake Energy in a research report on Tuesday, January 9th. Finally, Mizuho lowered shares of Chesapeake Energy from a “neutral” rating to an “underperform” rating and boosted their price objective for the company from $4.28 to $8.00 in a research report on Tuesday, January 16th. Nine equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Chesapeake Energy has an average rating of “Hold” and a consensus price target of $4.63.
CHK traded down $0.10 during trading on Friday, hitting $2.98. The company had a trading volume of 23,570,984 shares, compared to its average volume of 35,849,340. The stock has a market capitalization of $2,800.47, a PE ratio of 3.63 and a beta of 1.79. The company has a debt-to-equity ratio of -4.86, a current ratio of 0.65 and a quick ratio of 0.65. Chesapeake Energy has a 1-year low of $2.53 and a 1-year high of $6.39.
Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chesapeake Energy had a net margin of 9.73% and a negative return on equity of 32.26%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. equities research analysts forecast that Chesapeake Energy will post 0.74 earnings per share for the current fiscal year.
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About Chesapeake Energy
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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