Chesapeake Energy Co. (NYSE:CHK) – Analysts at Imperial Capital raised their FY2019 earnings per share estimates for shares of Chesapeake Energy in a research note issued on Wednesday, November 6th. Imperial Capital analyst J. Wangler now anticipates that the oil and gas exploration company will earn ($0.29) per share for the year, up from their previous estimate of ($0.34). Imperial Capital also issued estimates for Chesapeake Energy’s Q4 2019 earnings at ($0.06) EPS, Q1 2020 earnings at ($0.04) EPS, Q2 2020 earnings at ($0.08) EPS, Q3 2020 earnings at ($0.08) EPS, Q4 2020 earnings at ($0.05) EPS and FY2020 earnings at ($0.25) EPS.
Chesapeake Energy (NYSE:CHK) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas exploration company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Chesapeake Energy had a net margin of 5.46% and a return on equity of 9.01%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year.
NYSE:CHK opened at $0.90 on Friday. Chesapeake Energy has a 12 month low of $0.79 and a 12 month high of $3.78. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 1.00 and a beta of 2.45. The company has a quick ratio of 0.62, a current ratio of 0.60 and a debt-to-equity ratio of 2.94. The company’s 50 day moving average is $1.37 and its 200-day moving average is $1.79.
In related news, Director R Brad Martin bought 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $0.91 per share, with a total value of $227,500.00. Also, CEO Robert D. Lawler bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were bought at an average cost of $0.91 per share, for a total transaction of $45,500.00. Following the transaction, the chief executive officer now directly owns 5,133,298 shares of the company’s stock, valued at approximately $4,671,301.18. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Cresset Asset Management LLC bought a new position in Chesapeake Energy during the second quarter worth $30,000. Howard Financial Services LTD. increased its position in Chesapeake Energy by 75.0% during the second quarter. Howard Financial Services LTD. now owns 17,500 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 7,500 shares during the period. XR Securities LLC bought a new position in Chesapeake Energy during the third quarter worth $25,000. Enlightenment Research LLC acquired a new stake in Chesapeake Energy during the second quarter worth $52,000. Finally, Spears Abacus Advisors LLC acquired a new stake in Chesapeake Energy during the second quarter worth $42,000. 68.67% of the stock is currently owned by institutional investors and hedge funds.
About Chesapeake Energy
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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.
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