An issue of Chesapeake Energy Co. (NYSE:CHK) debt fell 0.7% as a percentage of its face value during trading on Friday. The high-yield issue of debt has a 6.125% coupon and will mature on February 15, 2021. The bonds in the issue are now trading at $98.00. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its share price.
CHK has been the subject of a number of analyst reports. Jefferies Group LLC upgraded shares of Chesapeake Energy from an “underperform” rating to a “hold” rating in a report on Tuesday, January 31st. Credit Suisse Group AG reiterated a “hold” rating and set a $7.00 price objective on shares of Chesapeake Energy in a report on Sunday, February 5th. Deutsche Bank AG reduced their price objective on shares of Chesapeake Energy from $9.00 to $8.00 and set a “hold” rating for the company in a report on Tuesday, March 7th. Barclays PLC lifted their price objective on shares of Chesapeake Energy from $4.00 to $5.00 and gave the company an “underweight” rating in a report on Thursday, January 26th. Finally, Zacks Investment Research cut shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a report on Tuesday, December 27th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.51.
Shares of Chesapeake Energy Co. (NYSE:CHK) traded down 0.72% during mid-day trading on Friday, reaching $5.52. 33,413,829 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $5.56 and its 200-day moving average price is $6.28. The stock’s market cap is $4.89 billion. Chesapeake Energy Co. has a 12-month low of $3.56 and a 12-month high of $8.20. Chesapeake Energy also saw unusually large options trading activity on Thursday. Stock traders bought 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 released its earnings results on Thursday, February 23rd. The oil and gas exploration company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the business posted ($0.16) EPS. Chesapeake Energy’s revenue was down 23.7% on a year-over-year basis. Equities research analysts forecast that Chesapeake Energy Co. will post $0.74 earnings per share for the current year.
In other news, Director Archie W. Dunham bought 500,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The shares were bought at an average price of $5.24 per share, for a total transaction of $2,620,000.00. Following the purchase, the director now owns 4,637,717 shares in the company, valued at $24,301,637.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its stake in Chesapeake Energy by 12.4% in the third quarter. Prudential Financial Inc. now owns 894,098 shares of the oil and gas exploration company’s stock worth $5,606,000 after buying an additional 98,497 shares during the last quarter. Icon Advisers Inc. Co. boosted its stake in Chesapeake Energy by 28.5% in the third quarter. Icon Advisers Inc. Co. now owns 1,302,850 shares of the oil and gas exploration company’s stock worth $8,169,000 after buying an additional 289,000 shares during the last quarter. M&T Bank Corp purchased a new stake in Chesapeake Energy during the third quarter worth approximately $306,000. Retirement Systems of Alabama boosted its stake in Chesapeake Energy by 10.9% in the third quarter. Retirement Systems of Alabama now owns 330,085 shares of the oil and gas exploration company’s stock worth $2,070,000 after buying an additional 32,462 shares during the last quarter. Finally, SOL Capital Management CO boosted its stake in Chesapeake Energy by 1.6% in the third quarter. SOL Capital Management CO now owns 61,750 shares of the oil and gas exploration company’s stock worth $387,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 66.74% of the company’s stock.
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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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