Chesapeake Energy Co. (NYSE:CHK) shares fell 6.5% during trading on Wednesday . The company traded as low as $2.89 and last traded at $2.89. 36,872,173 shares were traded during mid-day trading, an increase of 20% from the average session volume of 30,645,212 shares. The stock had previously closed at $3.09.
A number of research firms have recently commented on CHK. Morgan Stanley began coverage on Chesapeake Energy in a research note on Thursday, October 4th. They issued an “equal weight” rating and a $5.00 target price for the company. SunTrust Banks cut 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. ValuEngine cut Chesapeake Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 21st. Wolfe Research cut Chesapeake Energy from a “peer perform” rating to an “underperform” rating in a research note on Thursday, August 16th. Finally, Zacks Investment Research upgraded Chesapeake Energy from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research note on Thursday, October 25th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Chesapeake Energy has a consensus rating of “Hold” and a consensus price target of $4.75.
The company has a market cap of $2.67 billion, a PE ratio of 3.52, a price-to-earnings-growth ratio of 0.38 and a beta of 1.92.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Chesapeake Energy had a negative return on equity of 54.07% and a net margin of 6.91%. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. On average, equities analysts anticipate that Chesapeake Energy Co. will post 0.85 earnings per share for the current year.
In related news, EVP James R. Webb acquired 50,000 shares of the stock in a transaction on Thursday, November 1st. The stock was acquired at an average price of $3.54 per share, for a total transaction of $177,000.00. Following the completion of the purchase, the executive vice president now owns 871,548 shares of the company’s stock, valued at $3,085,279.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of CHK. Renaissance Technologies LLC bought a new stake in shares of Chesapeake Energy in the 3rd quarter worth $35,840,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Chesapeake Energy by 88.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,962,748 shares of the oil and gas exploration company’s stock worth $52,205,000 after purchasing an additional 4,671,610 shares in the last quarter. Huber Capital Management LLC increased its holdings in shares of Chesapeake Energy by 332.6% in the 2nd quarter. Huber Capital Management LLC now owns 5,013,813 shares of the oil and gas exploration company’s stock worth $26,272,000 after purchasing an additional 3,854,689 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Chesapeake Energy by 31.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,738,166 shares of the oil and gas exploration company’s stock worth $52,703,000 after purchasing an additional 2,777,313 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Chesapeake Energy by 181.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,972,965 shares of the oil and gas exploration company’s stock worth $11,998,000 after purchasing an additional 2,561,947 shares in the last quarter. 58.71% of the stock is owned by institutional investors and hedge funds.
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Chesapeake Energy Company Profile (NYSE:CHK)
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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