Chesapeake Energy (CHK) Upgraded by UBS Group to “Positive”

UBS Group upgraded shares of Chesapeake Energy (NYSE:CHK) from a neutral rating to a positive rating in a report released on Wednesday morning, The Fly reports.

Other analysts have also recently issued research reports about the stock. SunTrust Banks cut shares of Chesapeake Energy from a buy rating to a hold rating in a research report on Monday, September 24th. They noted that the move was a valuation call. Stephens reaffirmed a hold rating and set a $6.00 target price on shares of Chesapeake Energy in a report on Friday, July 27th. Wolfe Research lowered shares of Chesapeake Energy from a peer perform rating to an underperform rating in a report on Thursday, August 16th. Citigroup increased their target price on shares of Chesapeake Energy from $2.50 to $3.50 and gave the company a sell rating in a report on Monday, July 30th. Finally, ValuEngine raised shares of Chesapeake Energy from a strong sell rating to a sell rating in a report on Sunday, July 8th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $4.91.

Chesapeake Energy stock opened at $3.49 on Wednesday. The firm has a market cap of $3.19 billion, a PE ratio of 4.26, a P/E/G ratio of 0.45 and a beta of 1.93. Chesapeake Energy has a fifty-two week low of $2.53 and a fifty-two week high of $5.60.

Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the company posted $0.12 EPS. As a group, sell-side analysts expect that Chesapeake Energy will post 0.85 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in CHK. Schwab Charles Investment Management Inc. grew its holdings in shares of Chesapeake Energy by 88.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,962,748 shares of the oil and gas exploration company’s stock valued at $52,205,000 after purchasing an additional 4,671,610 shares during the last quarter. Huber Capital Management LLC grew its holdings in shares of Chesapeake Energy by 332.6% during the 2nd quarter. Huber Capital Management LLC now owns 5,013,813 shares of the oil and gas exploration company’s stock valued at $26,272,000 after purchasing an additional 3,854,689 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Chesapeake Energy by 94.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,348,023 shares of the oil and gas exploration company’s stock valued at $19,171,000 after purchasing an additional 3,077,431 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Chesapeake Energy by 181.6% during the 1st quarter. Principal Financial Group Inc. now owns 3,972,965 shares of the oil and gas exploration company’s stock valued at $11,998,000 after purchasing an additional 2,561,947 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Chesapeake Energy by 194.0% during the 2nd quarter. First Trust Advisors LP now owns 1,474,809 shares of the oil and gas exploration company’s stock valued at $7,728,000 after purchasing an additional 973,246 shares during the last quarter. 57.29% of the stock is currently owned by institutional investors.

Chesapeake Energy Company Profile

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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