Chesapeake Energy Co. (NYSE:CHK) Receives $3.89 Average PT from Analysts

Chesapeake Energy Co. (NYSE:CHK) has received a consensus rating of “Hold” from the twenty-one analysts that are presently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $3.89.

Several brokerages recently issued reports on CHK. Zacks Investment Research downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. Argus downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. SunTrust Banks reissued a “hold” rating on shares of Chesapeake Energy in a research note on Wednesday, May 8th. Guggenheim reissued a “neutral” rating on shares of Chesapeake Energy in a research note on Wednesday, April 17th. Finally, Goldman Sachs Group downgraded Chesapeake Energy from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $2.75 to $2.50 in a research note on Friday, April 12th. They noted that the move was a valuation call.

CHK stock traded down $0.04 during trading hours on Monday, hitting $1.91. 41,269,164 shares of the stock traded hands, compared to its average volume of 45,897,859. The firm has a 50-day moving average of $2.12. Chesapeake Energy has a one year low of $1.71 and a one year high of $5.60. The firm has a market capitalization of $3.19 billion, a P/E ratio of 2.12 and a beta of 2.55. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.72.

Chesapeake Energy (NYSE:CHK) last announced its earnings results on Wednesday, May 8th. The oil and gas exploration company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Chesapeake Energy had a net margin of 5.39% and a negative return on equity of 138.70%. The company had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was down 25.3% on a year-over-year basis. On average, equities research analysts anticipate that Chesapeake Energy will post -0.06 earnings per share for the current year.

In other Chesapeake Energy news, major shareholder Ngp Energy Capital Management, sold 568,424 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert D. Lawler bought 50,000 shares of the stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $2.02 per share, for a total transaction of $101,000.00. Following the acquisition, the chief executive officer now directly owns 5,083,298 shares in the company, valued at $10,268,261.96. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Carlyle Group L.P. acquired a new stake in Chesapeake Energy in the 1st quarter valued at approximately $535,982,000. Dimensional Fund Advisors LP grew its holdings in Chesapeake Energy by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,431,670 shares of the oil and gas exploration company’s stock valued at $26,109,000 after buying an additional 693,504 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Chesapeake Energy by 21.9% in the 4th quarter. Bank of New York Mellon Corp now owns 11,945,420 shares of the oil and gas exploration company’s stock valued at $25,085,000 after buying an additional 2,146,047 shares during the last quarter. Norges Bank acquired a new stake in Chesapeake Energy in the 4th quarter valued at approximately $21,828,000. Finally, Geode Capital Management LLC grew its holdings in Chesapeake Energy by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 9,217,962 shares of the oil and gas exploration company’s stock valued at $19,357,000 after buying an additional 458,983 shares during the last quarter. 70.05% of the stock is currently owned by hedge funds and other 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 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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Analyst Recommendations for Chesapeake Energy (NYSE:CHK)

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