Chesapeake Energy (NYSE:CHK) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “positive” rating in a research note issued to investors on Wednesday, The Fly reports.
Several other equities analysts also recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Chesapeake Energy in a report on Thursday, October 4th. They issued an “equal weight” rating and a $5.00 price target on the stock. SunTrust Banks cut shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. They noted that the move was a valuation call. Stephens reaffirmed a “hold” rating and set a $6.00 price objective on shares of Chesapeake Energy in a research note on Friday, July 27th. Wolfe Research cut shares of Chesapeake Energy from a “peer perform” rating to an “underperform” rating in a research note on Thursday, August 16th. Finally, ValuEngine cut shares of Chesapeake Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 21st. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $4.91.
Shares of NYSE:CHK opened at $3.57 on Wednesday. Chesapeake Energy has a twelve month low of $2.53 and a twelve month high of $5.60. The company has a market capitalization of $2.98 billion, a P/E ratio of 4.35, a price-to-earnings-growth ratio of 0.44 and a beta of 1.86.
Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 52.94%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $0.12 EPS. Chesapeake Energy’s quarterly revenue was up 22.5% on a year-over-year basis. Analysts expect that Chesapeake Energy will post 0.84 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Greylin Investment Mangement Inc. lifted its holdings in Chesapeake Energy by 3.0% in the 2nd quarter. Greylin Investment Mangement Inc. now owns 405,685 shares of the oil and gas exploration company’s stock valued at $2,126,000 after purchasing an additional 11,810 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Chesapeake Energy in the 2nd quarter valued at $2,465,000. North Star Asset Management Inc. lifted its holdings in Chesapeake Energy by 1.5% in the 3rd quarter. North Star Asset Management Inc. now owns 946,911 shares of the oil and gas exploration company’s stock valued at $4,252,000 after purchasing an additional 14,365 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Chesapeake Energy by 7.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 199,970 shares of the oil and gas exploration company’s stock valued at $898,000 after purchasing an additional 14,468 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Chesapeake Energy by 2.3% in the 3rd quarter. Arizona State Retirement System now owns 647,760 shares of the oil and gas exploration company’s stock valued at $2,908,000 after purchasing an additional 14,707 shares in the last quarter. 57.29% of the stock is currently owned by hedge funds and other institutional investors.
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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