Zacks: Brokerages Expect Chesapeake Energy Co. (NYSE:CHK) Will Post Quarterly Sales of $1.22 Billion

Analysts forecast that Chesapeake Energy Co. (NYSE:CHK) will post sales of $1.22 billion for the current quarter, Zacks reports. Four analysts have provided estimates for Chesapeake Energy’s earnings, with the highest sales estimate coming in at $1.26 billion and the lowest estimate coming in at $1.17 billion. Chesapeake Energy reported sales of $1.20 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.7%. The firm is expected to report its next quarterly earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that Chesapeake Energy will report full year sales of $4.74 billion for the current year, with estimates ranging from $4.48 billion to $5.00 billion. For the next financial year, analysts forecast that the firm will post sales of $5.24 billion, with estimates ranging from $4.70 billion to $6.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Chesapeake Energy.

Chesapeake Energy (NYSE:CHK) last issued its earnings results on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $1.17 billion. Chesapeake Energy had a negative return on equity of 138.70% and a net margin of 5.39%. Chesapeake Energy’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS.

Several research analysts recently commented on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Chesapeake Energy in a research note on Wednesday, April 17th. TheStreet downgraded shares of Chesapeake Energy from a “c” rating to a “d+” rating in a research note on Wednesday, May 8th. Morgan Stanley raised shares of Chesapeake Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $1.94 to $2.75 in a research note on Friday, June 28th. Zacks Investment Research downgraded shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 16th. Finally, Goldman Sachs Group cut shares of Chesapeake Energy from a “neutral” rating to a “sell” rating and cut their price target for the company from $2.75 to $2.50 in a report on Friday, April 12th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Chesapeake Energy presently has a consensus rating of “Hold” and an average price target of $3.46.

In other Chesapeake Energy news, EVP James R. Webb purchased 50,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $1.96 per share, for a total transaction of $98,000.00. Following the purchase, the executive vice president now directly owns 1,439,322 shares of the company’s stock, valued at approximately $2,821,071.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CHK. FTB Advisors Inc. boosted its position in shares of Chesapeake Energy by 193.4% in the 1st quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 5,802 shares during the period. Cedar Brook Financial Partners LLC purchased a new position in Chesapeake Energy in the 1st quarter valued at approximately $31,000. IFG Advisory LLC purchased a new position in Chesapeake Energy in the 1st quarter valued at approximately $34,000. Howard Financial Services LTD. increased its stake in Chesapeake Energy by 75.0% in the 2nd quarter. Howard Financial Services LTD. now owns 17,500 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC purchased a new position in Chesapeake Energy in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Shares of NYSE CHK remained flat at $$1.39 during mid-day trading on Friday. 70,955,443 shares of the company traded hands, compared to its average volume of 47,853,720. The company has a debt-to-equity ratio of 3.72, a current ratio of 0.47 and a quick ratio of 0.47. Chesapeake Energy has a 12 month low of $1.38 and a 12 month high of $4.98. The stock has a 50-day simple moving average of $1.78. The stock has a market capitalization of $2.19 billion, a PE ratio of 1.54 and a beta of 2.43.

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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Earnings History and Estimates for Chesapeake Energy (NYSE:CHK)

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