Wall Street analysts expect that Chesapeake Energy Co. (NYSE:CHK) will announce $1.12 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Chesapeake Energy’s earnings. The highest sales estimate is $1.14 billion and the lowest is $1.09 billion. Chesapeake Energy reported sales of $1.28 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.5%. The firm is scheduled to report its next quarterly earnings report on Thursday, August 2nd.
On average, analysts expect that Chesapeake Energy will report full-year sales of $5.06 billion for the current fiscal year, with estimates ranging from $4.70 billion to $6.02 billion. For the next financial year, analysts forecast that the business will post sales of $4.90 billion per share, with estimates ranging from $4.78 billion to $4.98 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Chesapeake Energy.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings results on Wednesday, May 2nd. The oil and gas exploration company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.09. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Chesapeake Energy had a negative return on equity of 43.41% and a net margin of 11.67%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share.
Several equities analysts have recently weighed in on CHK shares. Citigroup cut Chesapeake Energy from a “neutral” rating to a “sell” rating and lifted their price target for the company from $3.11 to $5.00 in a research report on Tuesday, April 17th. Zacks Investment Research cut Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, March 21st. Piper Jaffray Companies reiterated a “hold” rating and issued a $3.00 price target on shares of Chesapeake Energy in a research report on Thursday, March 15th. Sanford C. Bernstein cut Chesapeake Energy from a “market perform” rating to an “underperform” rating in a research report on Monday, March 26th. Finally, UBS Group started coverage on Chesapeake Energy in a research report on Wednesday, March 7th. They issued a “buy” rating and a $2.80 price target for the company. Nine research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $4.17.
A number of institutional investors have recently bought and sold shares of CHK. Teacher Retirement System of Texas grew its position in Chesapeake Energy by 309.8% during the fourth quarter. Teacher Retirement System of Texas now owns 305,335 shares of the oil and gas exploration company’s stock worth $1,209,000 after buying an additional 230,823 shares in the last quarter. Swiss National Bank grew its position in Chesapeake Energy by 1.9% during the fourth quarter. Swiss National Bank now owns 1,547,103 shares of the oil and gas exploration company’s stock worth $6,127,000 after buying an additional 28,500 shares in the last quarter. Rhumbline Advisers grew its position in Chesapeake Energy by 5.2% during the fourth quarter. Rhumbline Advisers now owns 1,548,526 shares of the oil and gas exploration company’s stock worth $6,132,000 after buying an additional 76,652 shares in the last quarter. American International Group Inc. grew its position in Chesapeake Energy by 14.9% during the fourth quarter. American International Group Inc. now owns 311,214 shares of the oil and gas exploration company’s stock worth $1,232,000 after buying an additional 40,473 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in Chesapeake Energy by 159.1% during the fourth quarter. Brown Advisory Inc. now owns 55,094 shares of the oil and gas exploration company’s stock worth $218,000 after buying an additional 33,827 shares in the last quarter. Institutional investors and hedge funds own 57.31% of the company’s stock.
Shares of NYSE CHK opened at $5.03 on Wednesday. The firm has a market capitalization of $4.60 billion, a PE ratio of 6.13 and a beta of 1.90. Chesapeake Energy has a fifty-two week low of $2.53 and a fifty-two week high of $5.20. The company has a debt-to-equity ratio of -5.27, a current ratio of 0.52 and a quick ratio of 0.52.
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.
Get a free copy of the Zacks research report on Chesapeake Energy (CHK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chesapeake Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Energy and related companies with MarketBeat.com's FREE daily email newsletter.