Chesapeake Energy (NYSE:CHK) Sets New 52-Week Low at $0.55

Chesapeake Energy Co. (NYSE:CHK) shares reached a new 52-week low during trading on Friday . The stock traded as low as $0.55 and last traded at $0.55, with a volume of 636105 shares changing hands. The stock had previously closed at $0.57.

Several analysts have commented on CHK shares. Morgan Stanley downgraded Chesapeake Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $2.25 to $1.25 in a research note on Wednesday, November 13th. Zacks Investment Research raised Chesapeake Energy from a “sell” rating to a “hold” rating and set a $1.25 price objective for the company in a research note on Wednesday, January 15th. Scotiabank raised Chesapeake Energy from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, November 26th. Imperial Capital reduced their price objective on Chesapeake Energy from $2.00 to $0.50 and set an “in-line” rating for the company in a research note on Monday, December 9th. Finally, ValuEngine raised Chesapeake Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. Chesapeake Energy presently has a consensus rating of “Hold” and an average target price of $1.97.

The stock has a market capitalization of $1.16 billion, a PE ratio of 1.25 and a beta of 2.36. The company has a 50 day simple moving average of $0.80 and a 200 day simple moving average of $1.23. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 2.94.

Chesapeake Energy (NYSE:CHK) last issued its earnings results on Tuesday, November 5th. The oil and gas exploration company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Chesapeake Energy had a return on equity of 9.01% and a net margin of 5.46%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $0.19 earnings per share. On average, equities research analysts predict that Chesapeake Energy Co. will post -0.29 EPS for the current year.

In other Chesapeake Energy news, CAO William M. Buergler bought 70,681 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $0.71 per share, with a total value of $50,183.51. Following the purchase, the chief accounting officer now owns 408,221 shares in the company, valued at approximately $289,836.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas L. Ryan bought 200,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $0.77 per share, with a total value of $154,000.00. Following the completion of the purchase, the director now owns 928,531 shares in the company, valued at approximately $714,968.87. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 570,681 shares of company stock valued at $477,184. Company insiders own 1.90% of the company’s stock.

Hedge funds have recently modified their holdings of the company. XR Securities LLC purchased a new position in shares of Chesapeake Energy during the 3rd quarter worth approximately $25,000. Sunbelt Securities Inc. purchased a new position in shares of Chesapeake Energy during the 3rd quarter worth approximately $25,000. J.W. Cole Advisors Inc. purchased a new position in shares of Chesapeake Energy during the 4th quarter worth approximately $29,000. Cresset Asset Management LLC purchased a new position in shares of Chesapeake Energy during the 2nd quarter worth approximately $30,000. Finally, NEXT Financial Group Inc raised its stake in shares of Chesapeake Energy by 37.8% during the 3rd quarter. NEXT Financial Group Inc now owns 90,125 shares of the oil and gas exploration company’s stock worth $127,000 after buying an additional 24,700 shares in the last quarter. 69.64% of the stock is owned by institutional investors and hedge funds.

About Chesapeake Energy (NYSE:CHK)

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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