Chesapeake Energy (CHK) Shares Gap Down to $2.68

Shares of Chesapeake Energy Co. (NYSE:CHK) gapped down before the market opened on Friday . The stock had previously closed at $2.54, but opened at $2.68. Chesapeake Energy shares last traded at $2.61, with a volume of 40055153 shares.

Several analysts recently weighed in on the company. TheStreet cut Chesapeake Energy from a “c” rating to a “d+” rating in a report on Wednesday. Argus cut Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday. SunTrust Banks reissued a “hold” rating on shares of Chesapeake Energy in a report on Wednesday. Guggenheim reissued a “neutral” rating on shares of Chesapeake Energy in a report on Wednesday, April 17th. Finally, Goldman Sachs Group cut Chesapeake Energy from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $2.75 to $2.50 in a report on Friday, April 12th. They noted that the move was a valuation call. Ten analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $4.01.

The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 2.90, a price-to-earnings-growth ratio of 0.69 and a beta of 2.39. The company has a debt-to-equity ratio of 3.72, a current ratio of 0.47 and a quick ratio of 0.57.

Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The company had revenue of $929.00 million during the quarter, compared to analyst estimates of $1.13 billion. Chesapeake Energy had a net margin of 5.39% and a negative return on equity of 138.70%. Chesapeake Energy’s revenue was down 25.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, equities research analysts predict that Chesapeake Energy Co. will post 0.62 EPS for the current year.

In other Chesapeake Energy news, major shareholder Ngp Energy Capital Management, sold 568,424 shares of Chesapeake Energy stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3.25, for a total value of $1,847,378.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CHK. Sigma Planning Corp acquired a new position in shares of Chesapeake Energy during the 4th quarter worth $25,000. Garrison Point Advisors LLC acquired a new position in shares of Chesapeake Energy during the 4th quarter worth $25,000. Bessemer Group Inc. raised its holdings in shares of Chesapeake Energy by 1,081.8% during the 4th quarter. Bessemer Group Inc. now owns 11,818 shares of the oil and gas exploration company’s stock worth $25,000 after buying an additional 10,818 shares in the last quarter. Peak Asset Management LLC acquired a new position in shares of Chesapeake Energy during the 4th quarter worth $26,000. Finally, FTB Advisors Inc. raised its holdings in shares of Chesapeake Energy by 193.4% during the 1st quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 5,802 shares in the last quarter. 58.81% of the stock is owned by hedge funds and other institutional investors.

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Chesapeake Energy Company Profile (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 Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.

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