Barclays PLC restated their sell rating on shares of Chesapeake Energy Co. (NYSE:CHK) in a research note issued to investors on Thursday morning. They currently have a $4.00 target price on the oil and gas exploration company’s stock.
Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC upgraded shares of Chesapeake Energy from an underperform rating to a hold rating in a research note on Tuesday, January 31st. SunTrust Banks, Inc. reiterated a buy rating on shares of Chesapeake Energy in a research note on Saturday, January 21st. Wunderlich reiterated a buy rating and issued a $10.00 price objective on shares of Chesapeake Energy in a research note on Tuesday, January 24th. Stifel Nicolaus initiated coverage on shares of Chesapeake Energy in a research note on Thursday, March 23rd. They issued a buy rating and a $10.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Chesapeake Energy from a buy rating to a hold rating in a research note on Tuesday, December 27th. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $7.51.
Chesapeake Energy (NYSE:CHK) traded down 0.450% on Thursday, reaching $5.535. The company’s stock had a trading volume of 26,739,068 shares. The stock’s 50 day moving average price is $5.56 and its 200 day moving average price is $6.28. Chesapeake Energy has a 12 month low of $3.56 and a 12 month high of $8.20. The company’s market cap is $4.90 billion. Chesapeake Energy also saw unusually large options trading activity on Thursday. Traders acquired 38,363 put options on the company. This represents an increase of approximately 264% compared to the average volume of 10,538 put options.
Chesapeake Energy (NYSE:CHK) last posted its earnings results on Thursday, February 23rd. The oil and gas exploration company reported $0.07 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.07. The business earned $2.02 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company earned ($0.16) EPS. The company’s revenue was down 23.7% on a year-over-year basis. Equities research analysts forecast that Chesapeake Energy will post $0.74 earnings per share for the current year.
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In other Chesapeake Energy news, Director Archie W. Dunham acquired 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was bought at an average cost of $5.24 per share, with a total value of $2,620,000.00. Following the acquisition, the director now owns 4,637,717 shares in the company, valued at $24,301,637.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Putnam Investments LLC increased its position in Chesapeake Energy by 6.9% in the fourth quarter. Putnam Investments LLC now owns 15,394 shares of the oil and gas exploration company’s stock valued at $108,000 after buying an additional 1,000 shares during the period. National Planning Corp increased its position in shares of Chesapeake Energy by 13.8% in the fourth quarter. National Planning Corp now owns 17,051 shares of the oil and gas exploration company’s stock valued at $110,000 after buying an additional 2,069 shares during the last quarter. Cleararc Capital Inc. increased its position in shares of Chesapeake Energy by 13.2% in the fourth quarter. Cleararc Capital Inc. now owns 18,119 shares of the oil and gas exploration company’s stock valued at $127,000 after buying an additional 2,117 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Chesapeake Energy during the fourth quarter valued at approximately $133,000. Finally, Cutler Capital Management LLC purchased a new position in shares of Chesapeake Energy during the first quarter valued at approximately $142,000. 66.74% of the stock is owned by institutional investors.
Chesapeake Energy Company Profile
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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