Chesapeake Energy (NASDAQ:CHK) Price Target Raised to $94.00

Chesapeake Energy (NASDAQ:CHK) had its price target upped by investment analysts at UBS Group from $92.00 to $94.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 5.37% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Johnson Rice downgraded shares of Chesapeake Energy from a “buy” rating to an “accumulate” rating in a report on Thursday, December 14th. Mizuho reduced their target price on shares of Chesapeake Energy from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Benchmark reduced their target price on shares of Chesapeake Energy from $107.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial cut their price objective on shares of Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, StockNews.com downgraded shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $103.00.

Chesapeake Energy Price Performance

Shares of Chesapeake Energy stock traded down $0.70 on Wednesday, hitting $89.21. 192,343 shares of the company traded hands, compared to its average volume of 2,115,576. The stock has a market capitalization of $11.67 billion, a P/E ratio of 5.30 and a beta of 0.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.99 and a current ratio of 1.99. Chesapeake Energy has a 52 week low of $72.84 and a 52 week high of $91.03. The business has a 50-day simple moving average of $82.79 and a 200 day simple moving average of $81.76.

Chesapeake Energy (NASDAQ:CHK) last released its quarterly earnings data on Tuesday, February 20th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.89. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $962.95 million. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. During the same period in the previous year, the company posted $4.22 earnings per share. Research analysts expect that Chesapeake Energy will post 3.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chesapeake Energy

Hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. lifted its position in shares of Chesapeake Energy by 3.3% during the 1st quarter. NBC Securities Inc. now owns 12,473 shares of the company’s stock valued at $1,117,000 after buying an additional 401 shares in the last quarter. Confluence Investment Management LLC purchased a new position in shares of Chesapeake Energy during the 1st quarter valued at approximately $623,000. Readystate Asset Management LP lifted its position in shares of Chesapeake Energy by 71.4% during the 4th quarter. Readystate Asset Management LP now owns 19,370 shares of the company’s stock valued at $1,490,000 after buying an additional 8,070 shares in the last quarter. FIL Ltd lifted its position in shares of Chesapeake Energy by 8.0% during the 4th quarter. FIL Ltd now owns 9,809 shares of the company’s stock valued at $755,000 after buying an additional 729 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Chesapeake Energy by 10.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 56,984 shares of the company’s stock valued at $4,384,000 after buying an additional 5,300 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.