Chesapeake Energy (CHK) PT Set at $3.00 by Credit Suisse Group

Credit Suisse Group set a $3.00 target price on Chesapeake Energy (NYSE:CHK) in a research note published on Wednesday. The brokerage currently has a sell rating on the oil and gas exploration company’s stock.

A number of other research firms also recently commented on CHK. Imperial Capital decreased their price objective on shares of Chesapeake Energy from $6.00 to $5.00 and set a hold rating on the stock in a report on Wednesday. Zacks Investment Research raised shares of Chesapeake Energy from a hold rating to a buy rating and set a $5.25 price objective on the stock in a report on Friday, July 20th. Morgan Stanley reissued a hold rating and set a $6.00 price objective (up previously from $5.00) on shares of Chesapeake Energy in a report on Friday, October 12th. Wolfe Research downgraded shares of Chesapeake Energy from a peer perform rating to an underperform rating in a report on Thursday, August 16th. Finally, Stephens reissued a hold rating and set a $6.00 price objective on shares of Chesapeake Energy in a report on Friday, July 27th. Six equities 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. The stock currently has an average rating of Hold and an average price target of $4.91.

CHK stock opened at $3.49 on Wednesday. The stock has a market cap of $3.21 billion, a P/E ratio of 3.58, a P/E/G ratio of 0.46 and a beta of 1.93. Chesapeake Energy has a 52 week low of $2.53 and a 52 week high of $5.60.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. The firm’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. As a group, analysts forecast that Chesapeake Energy will post 0.85 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in CHK. Schwab Charles Investment Management Inc. lifted its holdings in shares of Chesapeake Energy by 88.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 9,962,748 shares of the oil and gas exploration company’s stock valued at $52,205,000 after purchasing an additional 4,671,610 shares in the last quarter. Huber Capital Management LLC lifted its holdings in shares of Chesapeake Energy by 332.6% in the second quarter. Huber Capital Management LLC now owns 5,013,813 shares of the oil and gas exploration company’s stock valued at $26,272,000 after purchasing an additional 3,854,689 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Chesapeake Energy by 94.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,348,023 shares of the oil and gas exploration company’s stock valued at $19,171,000 after purchasing an additional 3,077,431 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Chesapeake Energy by 181.6% in the first quarter. Principal Financial Group Inc. now owns 3,972,965 shares of the oil and gas exploration company’s stock valued at $11,998,000 after purchasing an additional 2,561,947 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Chesapeake Energy by 194.0% in the second quarter. First Trust Advisors LP now owns 1,474,809 shares of the oil and gas exploration company’s stock valued at $7,728,000 after purchasing an additional 973,246 shares in the last quarter. 57.29% of the stock is currently owned by institutional investors.

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.

Further Reading: What is a Market Correction?

Analyst Recommendations for Chesapeake Energy (NYSE:CHK)

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.


Leave a Reply