Chesapeake Energy (NYSE:CHK) Shares Gap Down to $1.35

Chesapeake Energy Co. (NYSE:CHK) gapped down prior to trading on Thursday . The stock had previously closed at $1.30, but opened at $1.35. Chesapeake Energy shares last traded at $1.30, with a volume of 648,038 shares.

Several research analysts have commented on the company. UBS Group set a $2.00 target price on Chesapeake Energy and gave the stock a “sell” rating in a research note on Thursday, June 20th. Guggenheim restated a “neutral” rating on shares of Chesapeake Energy in a research note on Wednesday, April 17th. Zacks Investment Research downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. SunTrust Banks set a $2.00 target price on Chesapeake Energy and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, TheStreet downgraded Chesapeake Energy from a “c” rating to a “d+” rating in a research note on Wednesday, May 8th. Ten analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $3.38.

The stock has a market cap of $2.28 billion, a P/E ratio of 1.43 and a beta of 2.43. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a 50-day moving average price of $1.69 and a 200-day moving average price of $2.40.

Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $1.17 billion. Chesapeake Energy had a net margin of 6.70% and a return on equity of 90.53%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. Sell-side analysts forecast that Chesapeake Energy Co. will post -0.24 earnings per share for the current fiscal year.

In other news, EVP James R. Webb bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $1.96 per share, for a total transaction of $98,000.00. Following the transaction, the executive vice president now directly owns 1,439,322 shares of the company’s stock, valued at approximately $2,821,071.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. FTB Advisors Inc. lifted its position in Chesapeake Energy by 193.4% in the 1st quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 5,802 shares during the last quarter. Cedar Brook Financial Partners LLC bought a new stake in Chesapeake Energy in the 1st quarter worth approximately $31,000. Moneta Group Investment Advisors LLC lifted its position in Chesapeake Energy by 169.7% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 44,378 shares of the oil and gas exploration company’s stock worth $32,000 after buying an additional 27,926 shares during the last quarter. IFG Advisory LLC bought a new stake in Chesapeake Energy in the 1st quarter worth approximately $34,000. Finally, Howard Financial Services LTD. lifted its position in Chesapeake Energy by 75.0% in the 2nd quarter. Howard Financial Services LTD. now owns 17,500 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 7,500 shares during the last quarter. Institutional investors own 70.02% of the company’s stock.

About Chesapeake Energy (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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

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