Chesapeake Energy (NYSE:CHK)‘s stock had its “neutral” rating reaffirmed by equities researchers at Guggenheim in a report released on Wednesday, MarketBeat reports.
A number of other equities research analysts have also issued reports on CHK. Zacks Investment Research lowered shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. MKM Partners set a $3.00 price objective on shares of Chesapeake Energy and gave the company a “hold” rating in a report on Tuesday, March 5th. Goldman Sachs Group lowered shares of Chesapeake Energy from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $2.75 to $2.50 in a report on Friday, April 12th. They noted that the move was a valuation call. Capital One Financial lowered shares of Chesapeake Energy from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Finally, Raymond James set a $5.00 price objective on shares of Chesapeake Energy and gave the company a “buy” rating in a report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $4.01.
Shares of Chesapeake Energy stock traded down $0.02 during trading hours on Wednesday, reaching $3.04. 130,587 shares of the company’s stock were exchanged, compared to its average volume of 46,098,945. Chesapeake Energy has a 1 year low of $1.71 and a 1 year high of $5.60. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 3.38, a PEG ratio of 1.05 and a beta of 2.44.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data on Wednesday, February 27th. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. Chesapeake Energy had a net margin of 8.31% and a negative return on equity of 58.05%. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Chesapeake Energy’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts expect that Chesapeake Energy will post 0.52 EPS for the current fiscal year.
In other Chesapeake Energy news, major shareholder Ngp Energy Capital Management, sold 568,424 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3.25, for a total transaction of $1,847,378.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of Chesapeake Energy by 31.0% during the third 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. BlueMountain Capital Management LLC acquired a new stake in Chesapeake Energy in the third quarter valued at approximately $1,838,000. The Manufacturers Life Insurance Company raised its holdings in Chesapeake Energy by 4.2% in the third quarter. The Manufacturers Life Insurance Company now owns 1,514,037 shares of the oil and gas exploration company’s stock valued at $6,798,000 after acquiring an additional 61,605 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Chesapeake Energy by 17.2% in the third quarter. Pacer Advisors Inc. now owns 330,218 shares of the oil and gas exploration company’s stock valued at $1,483,000 after acquiring an additional 48,398 shares in the last quarter. Finally, Man Group plc acquired a new stake in Chesapeake Energy in the third quarter valued at approximately $412,000. 58.81% of the stock is 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.
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