Chesapeake Energy Co. (NYSE:CHK)‘s stock had its “sell” rating reaffirmed by analysts at FBR & Co in a research report issued to clients and investors on Friday, May 5th.
CHK has been the subject of a number of other research 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 restated 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 decreased 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 raised their price objective on shares of Chesapeake Energy from $4.00 to $5.00 and gave the stock an “underweight” rating in a report on Thursday, January 26th. Finally, Wunderlich set a $10.00 price objective on shares of Chesapeake Energy and gave the stock a “buy” rating in a report on Sunday, February 26th. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Chesapeake Energy has a consensus rating of “Hold” and an average target price of $7.35.
Chesapeake Energy (NYSE:CHK) last announced its earnings results on Thursday, May 4th. The oil and gas exploration company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company earned ($0.10) EPS.
In related news, Director Archie W. Dunham acquired 500,000 shares of Chesapeake Energy stock in a transaction on Wednesday, March 8th. The shares were acquired at an average cost of $5.24 per share, with a total value of $2,620,000.00. Following the transaction, the director now owns 4,637,717 shares in the company, valued at $24,301,637.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Segantii Capital Management Ltd acquired a new stake in shares of Chesapeake Energy during the third quarter worth approximately $3,060,000. Allianz Asset Management AG boosted its stake in shares of Chesapeake Energy by 511.4% in the fourth quarter. Allianz Asset Management AG now owns 8,521,908 shares of the oil and gas exploration company’s stock worth $59,824,000 after buying an additional 10,593,589 shares during the period. BlackRock Group LTD boosted its stake in shares of Chesapeake Energy by 14.2% in the third quarter. BlackRock Group LTD now owns 2,443,934 shares of the oil and gas exploration company’s stock worth $15,325,000 after buying an additional 303,715 shares during the period. State Street Corp boosted its stake in shares of Chesapeake Energy by 18.9% in the fourth quarter. State Street Corp now owns 41,308,984 shares of the oil and gas exploration company’s stock worth $289,984,000 after buying an additional 6,558,367 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in shares of Chesapeake Energy by 5.8% in the third quarter. Capstone Asset Management Co. now owns 38,203 shares of the oil and gas exploration company’s stock worth $240,000 after buying an additional 2,100 shares during the period. Hedge funds and other institutional investors own 66.74% of the company’s stock.
About Chesapeake Energy
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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