Chesapeake Energy Co. (CHK) to Post Q3 2019 Earnings of $0.23 Per Share, Jefferies Financial Group Forecasts

Chesapeake Energy Co. (NYSE:CHK) – Research analysts at Jefferies Financial Group lifted their Q3 2019 EPS estimates for shares of Chesapeake Energy in a research note issued on Wednesday, October 31st. Jefferies Financial Group analyst M. Lear now expects that the oil and gas exploration company will post earnings of $0.23 per share for the quarter, up from their prior estimate of $0.14. Jefferies Financial Group also issued estimates for Chesapeake Energy’s FY2019 earnings at $1.00 EPS and FY2020 earnings at $1.19 EPS.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. The firm’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 earnings per share.

CHK has been the subject of a number of other research reports. Susquehanna Bancshares raised shares of Chesapeake Energy from a “neutral” rating to a “positive” rating and set a $5.00 price objective for the company in a report on Wednesday, October 31st. ValuEngine raised shares of Chesapeake Energy from a “strong sell” rating to a “sell” rating in a report on Sunday, July 8th. Credit Suisse Group set a $3.00 price objective on shares of Chesapeake Energy and gave the stock a “sell” rating in a report on Wednesday, October 31st. Citigroup lifted their price objective on shares of Chesapeake Energy from $2.50 to $3.50 and gave the stock a “sell” rating in a report on Monday, July 30th. Finally, Raymond James raised shares of Chesapeake Energy from a “market perform” rating to an “outperform” rating in a report on Thursday. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $4.91.

Chesapeake Energy stock opened at $3.49 on Monday. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 4.26, a price-to-earnings-growth ratio of 0.45 and a beta of 1.93. Chesapeake Energy has a 12 month low of $2.53 and a 12 month high of $5.60.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Chesapeake Energy by 88.3% during the second 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 acquiring an additional 4,671,610 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Chesapeake Energy by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 9,775,942 shares of the oil and gas exploration company’s stock valued at $51,227,000 after acquiring an additional 161,327 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Chesapeake Energy by 41.2% during the second quarter. Dimensional Fund Advisors LP now owns 8,960,853 shares of the oil and gas exploration company’s stock valued at $46,954,000 after acquiring an additional 2,612,830 shares during the period. Huber Capital Management LLC boosted its holdings in shares of Chesapeake Energy by 332.6% during the second 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 acquiring an additional 3,854,689 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Chesapeake Energy by 181.6% during the first 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 acquiring an additional 2,561,947 shares during the period. 57.29% of the stock is 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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Earnings History and Estimates for Chesapeake Energy (NYSE:CHK)

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