Scotiabank reaffirmed their hold rating on shares of Chesapeake Energy Corporation (NYSE:CHK) in a research report sent to investors on Friday, June 30th. Scotiabank currently has a $5.00 price target on the oil and gas exploration company’s stock.
A number of other equities research analysts also recently weighed in on the company. Vetr downgraded Chesapeake Energy Corporation from a hold rating to a sell rating and set a $4.67 price target for the company. in a report on Wednesday, June 28th. BidaskClub upgraded Chesapeake Energy Corporation from a sell rating to a hold rating in a research note on Wednesday, June 28th. BMO Capital Markets reiterated a hold rating and set a $3.00 price target on shares of Chesapeake Energy Corporation in a research report on Tuesday, June 27th. Macquarie lowered Chesapeake Energy Corporation from a neutral rating to an underperform rating and boosted their price target for the stock from $3.93 to $4.00 in a research report on Wednesday, June 21st. Finally, Wolfe Research started coverage on Chesapeake Energy Corporation in a research report on Thursday, June 15th. They set a market perform rating and a $5.50 price target for the company. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $6.66.
Shares of Chesapeake Energy Corporation (NYSE CHK) remained flat at $5.06 on Friday. 41,607,527 shares of the company were exchanged. The company has a 50 day moving average of $4.84 and a 200 day moving average of $5.55. The company’s market capitalization is $4.51 billion. Chesapeake Energy Corporation has a 52 week low of $4.38 and a 52 week high of $8.20.
Chesapeake Energy Corporation (NYSE:CHK) last released its quarterly earnings results on Thursday, May 4th. The oil and gas exploration company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. Chesapeake Energy Corporation had a negative return on equity of 7.64% and a negative net margin of 35.84%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the company posted ($0.10) EPS. On average, equities research analysts expect that Chesapeake Energy Corporation will post $0.78 EPS for the current fiscal year.
In other news, Director R Brad Martin acquired 20,400 shares of Chesapeake Energy Corporation stock in a transaction dated Friday, June 23rd. The stock was bought at an average price of $4.55 per share, for a total transaction of $92,820.00. Following the completion of the acquisition, the director now directly owns 522,358 shares in the company, valued at approximately $2,376,728.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas L. Ryan purchased 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was bought at an average price of $5.00 per share, with a total value of $375,000.00. Following the completion of the purchase, the director now owns 440,355 shares of the company’s stock, valued at approximately $2,201,775. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 115,400 shares of company stock worth $573,020. 1.10% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harris Associates L P increased its stake in Chesapeake Energy Corporation by 96.4% in the first quarter. Harris Associates L P now owns 65,475,640 shares of the oil and gas exploration company’s stock worth $388,926,000 after buying an additional 32,145,200 shares during the last quarter. Norges Bank bought a new stake in Chesapeake Energy Corporation during the fourth quarter worth $56,791,000. Vanguard Group Inc. boosted its stake in shares of Chesapeake Energy Corporation by 8.3% in the first quarter. Vanguard Group Inc. now owns 91,145,308 shares of the oil and gas exploration company’s stock worth $541,403,000 after buying an additional 6,948,058 shares during the period. State Street Corp boosted its stake in shares of Chesapeake Energy Corporation by 6.0% in the first quarter. State Street Corp now owns 43,785,695 shares of the oil and gas exploration company’s stock worth $260,083,000 after buying an additional 2,476,711 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Chesapeake Energy Corporation during the fourth quarter worth approximately $16,613,000. Institutional investors own 64.87% of the company’s stock.
About Chesapeake Energy Corporation
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.
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