Chesapeake Energy (NYSE:CHK) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Friday, The Fly reports. They presently have a $2.72 price objective on the oil and gas exploration company’s stock. JPMorgan Chase & Co.’s target price would suggest a potential downside of 3.55% from the company’s current price.
A number of other equities research analysts have also recently issued reports on CHK. Wolfe Research cut Chesapeake Energy from a “peer perform” rating to an “underperform” rating in a research note on Thursday, August 16th. ValuEngine cut Chesapeake Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 21st. 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. Morgan Stanley started coverage on Chesapeake Energy in a research note on Thursday, October 4th. They set an “equal weight” rating and a $5.00 price objective on the stock. Finally, Zacks Investment Research upgraded Chesapeake Energy from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research note on Thursday, October 25th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $4.75.
Shares of Chesapeake Energy stock traded up $0.10 on Friday, reaching $2.82. 243,022 shares of the company were exchanged, compared to its average volume of 28,818,314. Chesapeake Energy has a one year low of $2.53 and a one year high of $5.60. The stock has a market cap of $2.64 billion, a P/E ratio of 3.48, a P/E/G ratio of 0.35 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, topping analysts’ consensus estimates of $0.15 by $0.04. Chesapeake Energy had a negative return on equity of 54.07% and a net margin of 6.91%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business posted $0.12 EPS. The business’s revenue was up 22.5% compared to the same quarter last year. Analysts forecast that Chesapeake Energy will post 0.85 earnings per share for the current fiscal year.
In other Chesapeake Energy news, EVP James R. Webb bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were acquired at an average cost of $3.54 per share, with a total value of $177,000.00. Following the acquisition, the executive vice president now owns 871,548 shares of the company’s stock, valued at $3,085,279.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Carnegie Capital Asset Management LLC increased its holdings in shares of Chesapeake Energy by 174.4% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 45,000 shares of the oil and gas exploration company’s stock worth $161,000 after acquiring an additional 28,600 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Chesapeake Energy by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 78,461,187 shares of the oil and gas exploration company’s stock worth $352,290,000 after acquiring an additional 864,212 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Chesapeake Energy by 3.0% during the 3rd quarter. Teachers Advisors LLC now owns 1,083,158 shares of the oil and gas exploration company’s stock worth $4,863,000 after acquiring an additional 31,725 shares during the last quarter. Kentucky Retirement Systems acquired a new position in shares of Chesapeake Energy during the 3rd quarter worth approximately $1,133,000. Finally, HRT Financial LLC acquired a new position in shares of Chesapeake Energy during the 3rd quarter worth approximately $374,000. 58.71% of the stock is currently owned by institutional investors and hedge funds.
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.
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