Chesapeake Energy Corporation (CHK) Cut to Underperform at Jefferies Group LLC

Jefferies Group LLC cut shares of Chesapeake Energy Corporation (NYSE:CHK) from a hold rating to an underperform rating in a research note published on Monday morning, Marketbeat Ratings reports. The firm currently has $2.00 price objective on the oil and gas exploration company’s stock, down from their prior price objective of $4.00. Jefferies Group also issued estimates for Chesapeake Energy Corporation’s Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.17 EPS, FY2017 earnings at $0.62 EPS, Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.84 EPS, Q1 2019 earnings at $0.33 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.29 EPS and FY2019 earnings at $1.24 EPS.

CHK has been the topic of a number of other research reports. Mizuho reaffirmed a hold rating and set a $5.00 price objective on shares of Chesapeake Energy Corporation in a research report on Friday, September 29th. ValuEngine upgraded shares of Chesapeake Energy Corporation from a hold rating to a buy rating in a research note on Monday, October 2nd. Scotiabank set a $5.00 price objective on shares of Chesapeake Energy Corporation and gave the company a hold rating in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Chesapeake Energy Corporation from a sell rating to a strong sell rating in a research note on Monday, August 14th. Finally, Vetr upgraded shares of Chesapeake Energy Corporation from a hold rating to a strong-buy rating and set a $5.68 price objective for the company in a research note on Tuesday, August 1st. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $6.01.

Shares of Chesapeake Energy Corporation (CHK) traded down 2.380% during midday trading on Monday, reaching $3.856. The company’s stock had a trading volume of 1,506,859 shares. The firm’s market cap is $3.44 billion. The stock’s 50 day moving average price is $4.01 and its 200 day moving average price is $4.82. Chesapeake Energy Corporation has a one year low of $3.55 and a one year high of $8.20.

Chesapeake Energy Corporation (NYSE:CHK) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Chesapeake Energy Corporation had a negative return on equity of 16.10% and a negative net margin of 9.52%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) earnings per share. Analysts predict that Chesapeake Energy Corporation will post $0.73 earnings per share for the current year.

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In related news, Director R Brad Martin acquired 25,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $4.11 per share, with a total value of $102,750.00. Following the acquisition, the director now directly owns 547,358 shares in the company, valued at $2,249,641.38. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank boosted its stake in shares of Chesapeake Energy Corporation by 1.0% in the 1st quarter. Amalgamated Bank now owns 94,374 shares of the oil and gas exploration company’s stock valued at $561,000 after purchasing an additional 958 shares during the last quarter. State Street Corp raised its position in shares of Chesapeake Energy Corporation by 6.0% in the 1st quarter. State Street Corp now owns 43,785,695 shares of the oil and gas exploration company’s stock valued at $260,083,000 after acquiring an additional 2,476,711 shares during the period. US Bancorp DE raised its position in shares of Chesapeake Energy Corporation by 26.3% in the 1st quarter. US Bancorp DE now owns 37,164 shares of the oil and gas exploration company’s stock valued at $221,000 after acquiring an additional 7,733 shares during the period. Westwood Holdings Group Inc. raised its position in shares of Chesapeake Energy Corporation by 13.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,379,718 shares of the oil and gas exploration company’s stock valued at $26,015,000 after acquiring an additional 504,570 shares during the period. Finally, Chicago Equity Partners LLC acquired a new stake in shares of Chesapeake Energy Corporation in the 2nd quarter valued at approximately $1,524,000. 64.56% of the stock is currently owned by institutional investors.

Chesapeake Energy Corporation 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.

Analyst Recommendations for Chesapeake Energy Corporation (NYSE:CHK)

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