Chesapeake Energy (NASDAQ:CHK) Research Coverage Started at Benchmark

Benchmark assumed coverage on shares of Chesapeake Energy (NASDAQ:CHKGet Rating) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $137.00 price target on the stock.

Other equities analysts also recently issued reports about the company. Wolfe Research boosted their price objective on Chesapeake Energy from $104.00 to $111.00 and gave the stock an outperform rating in a research report on Tuesday, April 5th. TheStreet downgraded Chesapeake Energy from a c- rating to a d rating in a research report on Thursday, May 5th. Wells Fargo & Company upped their target price on Chesapeake Energy from $102.00 to $130.00 and gave the stock an overweight rating in a research report on Monday, July 11th. Credit Suisse Group assumed coverage on Chesapeake Energy in a research report on Tuesday, June 14th. They issued an outperform rating and a $115.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on Chesapeake Energy in a research report on Monday, July 18th. They issued a buy rating and a $106.00 target price for the company. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $102.23.

Chesapeake Energy Stock Performance

Shares of NASDAQ CHK opened at $92.00 on Tuesday. The company has a current ratio of 0.47, a quick ratio of 0.34 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $88.60 and a 200-day simple moving average of $83.57. The company has a market cap of $11.71 billion, a PE ratio of 9.61, a P/E/G ratio of 1.03 and a beta of 0.76. Chesapeake Energy has a 12-month low of $50.71 and a 12-month high of $105.00.

Chesapeake Energy (NASDAQ:CHKGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.63. The business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $1.34 billion. Chesapeake Energy had a return on equity of 35.01% and a net margin of 18.53%. Chesapeake Energy’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Chesapeake Energy will post 14.16 EPS for the current year.

Chesapeake Energy announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 22nd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 20.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Chesapeake Energy Cuts Dividend

The company also recently announced a None dividend, which will be paid on Thursday, September 1st. Shareholders of record on Wednesday, August 17th will be paid a dividend of $2.32 per share. This represents a yield of 10.5%. The ex-dividend date is Tuesday, August 16th. Chesapeake Energy’s dividend payout ratio (DPR) is currently 20.90%.

Insider Buying and Selling at Chesapeake Energy

In other Chesapeake Energy news, major shareholder Holdings L.P. Blackstone III sold 4,236 shares of the business’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $100.11, for a total transaction of $424,065.96. Following the sale, the insider now directly owns 1,311,663 shares of the company’s stock, valued at approximately $131,310,582.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Joshua J. Viets purchased 2,450 shares of the company’s stock in a transaction dated Thursday, June 16th. The shares were acquired at an average cost of $84.41 per share, with a total value of $206,804.50. Following the completion of the purchase, the chief operating officer now owns 25,804 shares of the company’s stock, valued at approximately $2,178,115.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 4,236 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $100.11, for a total transaction of $424,065.96. Following the completion of the transaction, the insider now directly owns 1,311,663 shares in the company, valued at $131,310,582.93. The disclosure for this sale can be found here. Insiders have bought a total of 9,150 shares of company stock valued at $752,048 in the last three months. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chesapeake Energy

A number of hedge funds have recently modified their holdings of the stock. Loomis Sayles & Co. L P boosted its holdings in Chesapeake Energy by 27.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 867 shares of the company’s stock worth $56,000 after purchasing an additional 189 shares in the last quarter. Comerica Bank boosted its holdings in Chesapeake Energy by 3.0% in the first quarter. Comerica Bank now owns 8,529 shares of the company’s stock worth $792,000 after purchasing an additional 245 shares in the last quarter. Private Ocean LLC bought a new stake in Chesapeake Energy in the first quarter worth $26,000. X Square Capital LLC boosted its holdings in Chesapeake Energy by 1.8% in the second quarter. X Square Capital LLC now owns 17,437 shares of the company’s stock worth $1,414,000 after purchasing an additional 307 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Chesapeake Energy by 5.7% in the first quarter. Captrust Financial Advisors now owns 5,673 shares of the company’s stock worth $494,000 after purchasing an additional 308 shares in the last quarter.

Chesapeake Energy Company Profile

(Get Rating)

Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the United States. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana; and the liquids-rich resource play in the Eagle Ford Shale in South Texas.

See Also

Analyst Recommendations for Chesapeake Energy (NASDAQ:CHK)

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