Chesapeake Energy (NYSE:CHK) Stock Price Down 7.4%

Chesapeake Energy Co. (NYSE:CHK) shares traded down 7.4% during mid-day trading on Wednesday . The company traded as low as $1.75 and last traded at $1.76. 60,974,824 shares changed hands during mid-day trading, an increase of 34% from the average session volume of 45,381,711 shares. The stock had previously closed at $1.90.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. TheStreet cut shares of Chesapeake Energy from a “c” rating to a “d+” rating in a research note on Wednesday, May 8th. Argus cut shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. SunTrust Banks reiterated a “hold” rating on shares of Chesapeake Energy in a research note on Wednesday, May 8th. Finally, Guggenheim reiterated a “neutral” rating on shares of Chesapeake Energy in a research note on Wednesday, April 17th. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $4.01.

The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 1.96 and a beta of 2.55.

Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. Equities research analysts anticipate that Chesapeake Energy Co. will post -0.06 earnings per share for the current fiscal year.

In other Chesapeake Energy news, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of Chesapeake Energy stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3.29, for a total transaction of $19,456,191.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James R. Webb bought 50,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $1.96 per share, with a total value of $98,000.00. Following the acquisition, the executive vice president now directly owns 1,439,322 shares in the company, valued at approximately $2,821,071.12. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHK. Financial Advocates Investment Management raised its stake in shares of Chesapeake Energy by 158.3% during the 4th quarter. Financial Advocates Investment Management now owns 6,085 shares of the oil and gas exploration company’s stock worth $42,000 after buying an additional 3,729 shares during the period. Sigma Planning Corp lifted its stake in Chesapeake Energy by 34.5% during the 1st quarter. Sigma Planning Corp now owns 15,805 shares of the oil and gas exploration company’s stock worth $49,000 after acquiring an additional 4,055 shares in the last quarter. LDR Capital Management LLC acquired a new position in Chesapeake Energy during the 1st quarter worth about $232,000. Montgomery Investment Management Inc. lifted its stake in Chesapeake Energy by 1.7% during the 1st quarter. Montgomery Investment Management Inc. now owns 262,270 shares of the oil and gas exploration company’s stock worth $813,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Level Four Advisory Services LLC lifted its stake in Chesapeake Energy by 43.9% during the 1st quarter. Level Four Advisory Services LLC now owns 17,159 shares of the oil and gas exploration company’s stock worth $53,000 after acquiring an additional 5,234 shares in the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.

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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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