Barclays PLC Increases Chesapeake Energy Corporation (CHK) Price Target to $3.00

Chesapeake Energy Corporation (NYSE:CHK) had its target price hoisted by research analysts at Barclays PLC from $2.00 to $3.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “underweight” rating on the oil and gas exploration company’s stock. Barclays PLC’s price target indicates a potential downside of 22.08% from the company’s previous close.

CHK has been the subject of a number of other reports. Scotiabank set a $5.00 price target on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Vetr raised shares of Chesapeake Energy Corporation from a “buy” rating to a “strong-buy” rating and set a $5.23 price target for the company in a research note on Monday, July 24th. Piper Jaffray Companies set a $6.00 price target on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. BidaskClub cut shares of Chesapeake Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Jefferies Group LLC cut shares of Chesapeake Energy Corporation from a “hold” rating to an “underperform” rating and dropped their price target for the stock from $4.00 to $2.00 in a research note on Monday. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Chesapeake Energy Corporation presently has an average rating of “Hold” and a consensus price target of $6.01.

Chesapeake Energy Corporation (NYSE:CHK) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year.

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In other Chesapeake Energy Corporation news, Director R Brad Martin purchased 25,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $4.11 per share, with a total value of $102,750.00. Following the transaction, the director now owns 547,358 shares of the company’s stock, valued at $2,249,641.38. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank lifted its position in shares of Chesapeake Energy Corporation by 26.3% in the 2nd quarter. Toronto Dominion Bank now owns 249,025 shares of the oil and gas exploration company’s stock worth $1,238,000 after purchasing an additional 51,801 shares during the period. Archford Capital Strategies LLC purchased a new stake in shares of Chesapeake Energy Corporation in the 2nd quarter worth approximately $984,000. Advisory Services Network LLC lifted its position in shares of Chesapeake Energy Corporation by 42.6% in the 2nd quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock worth $116,000 after purchasing an additional 7,000 shares during the period. North Star Asset Management Inc. lifted its position in shares of Chesapeake Energy Corporation by 16.4% in the 2nd quarter. North Star Asset Management Inc. now owns 860,965 shares of the oil and gas exploration company’s stock worth $4,279,000 after purchasing an additional 121,545 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Chesapeake Energy Corporation by 45.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 403,219 shares of the oil and gas exploration company’s stock worth $2,004,000 after purchasing an additional 126,910 shares during the period. 64.56% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Energy Corporation Company Profile

Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.

Analyst Recommendations for Chesapeake Energy Corporation (NYSE:CHK)

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