Chesapeake Energy (CHK) Lowered to Sell at Citigroup

Chesapeake Energy (NYSE:CHK) was downgraded by stock analysts at Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Tuesday, The Fly reports.

Several other analysts have also recently issued reports on the company. SunTrust Banks restated a “buy” rating and issued a $6.00 target price on shares of Chesapeake Energy in a report on Wednesday, January 3rd. Zacks Investment Research cut Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Wednesday, March 21st. Piper Jaffray reiterated a “hold” rating and set a $3.00 price target on shares of Chesapeake Energy in a report on Thursday, March 15th. Mizuho cut Chesapeake Energy from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $4.28 to $8.00 in a report on Tuesday, January 16th. Finally, Sanford C. Bernstein reiterated a “hold” rating on shares of Chesapeake Energy in a report on Friday, February 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Chesapeake Energy currently has an average rating of “Hold” and a consensus target price of $4.63.

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Shares of NYSE:CHK opened at $3.11 on Tuesday. The company has a debt-to-equity ratio of -4.86, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $2,855.02, a price-to-earnings ratio of 3.79 and a beta of 1.78. Chesapeake Energy has a 52-week low of $2.53 and a 52-week high of $5.91.

Chesapeake Energy (NYSE:CHK) last issued its earnings results on Thursday, February 22nd. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chesapeake Energy had a negative return on equity of 32.26% and a net margin of 9.73%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. equities analysts expect that Chesapeake Energy will post 0.74 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Chesapeake Energy by 41.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,909 shares of the oil and gas exploration company’s stock valued at $213,000 after acquiring an additional 15,804 shares during the period. Nationwide Fund Advisors boosted its holdings in Chesapeake Energy by 9.0% during the 3rd quarter. Nationwide Fund Advisors now owns 238,475 shares of the oil and gas exploration company’s stock valued at $1,025,000 after acquiring an additional 19,739 shares during the period. Oarsman Capital Inc. boosted its holdings in Chesapeake Energy by 14.6% during the 4th quarter. Oarsman Capital Inc. now owns 188,100 shares of the oil and gas exploration company’s stock valued at $745,000 after acquiring an additional 24,000 shares during the period. Teachers Advisors LLC boosted its holdings in Chesapeake Energy by 2.0% during the 4th quarter. Teachers Advisors LLC now owns 1,242,782 shares of the oil and gas exploration company’s stock valued at $4,921,000 after acquiring an additional 24,039 shares during the period. Finally, Standard Life Aberdeen plc boosted its holdings in Chesapeake Energy by 9.0% during the 4th quarter. Standard Life Aberdeen plc now owns 299,974 shares of the oil and gas exploration company’s stock valued at $1,190,000 after acquiring an additional 24,709 shares during the period. Institutional investors own 61.81% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Chesapeake Energy (NYSE:CHK)

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