Chesapeake Energy Co. (NYSE:CHK) – Equities researchers at Jefferies Financial Group upped their Q2 2018 earnings estimates for shares of Chesapeake Energy in a research note issued on Monday, June 11th. Jefferies Financial Group analyst M. Lear now expects that the oil and gas exploration company will post earnings of $0.12 per share for the quarter, up from their previous estimate of $0.10. Jefferies Financial Group also issued estimates for Chesapeake Energy’s Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.76 EPS, Q2 2019 earnings at $0.14 EPS, Q3 2019 earnings at $0.12 EPS and Q4 2019 earnings at $0.18 EPS.
Several other research firms have also commented on CHK. Sanford C. Bernstein lowered Chesapeake Energy from a “market perform” rating to an “underperform” rating in a research report on Monday, March 26th. Stephens set a $4.00 price target on Chesapeake Energy and gave the stock a “hold” rating in a research report on Tuesday, April 24th. Zacks Investment Research raised Chesapeake Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. UBS Group started coverage on Chesapeake Energy in a research report on Wednesday, March 7th. They set a “buy” rating and a $2.80 price target on the stock. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $3.00 price target on shares of Chesapeake Energy in a research report on Thursday, March 15th. Ten equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $4.41.
Chesapeake Energy (NYSE:CHK) last released its quarterly earnings results on Wednesday, May 2nd. The oil and gas exploration company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.30 billion. Chesapeake Energy had a negative return on equity of 43.41% and a net margin of 11.67%. Chesapeake Energy’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of CHK. Millennium Management LLC bought a new stake in shares of Chesapeake Energy in the 1st quarter valued at approximately $25,979,000. Dimensional Fund Advisors LP increased its holdings in shares of Chesapeake Energy by 94.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,348,023 shares of the oil and gas exploration company’s stock valued at $19,171,000 after acquiring an additional 3,077,431 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Chesapeake Energy by 181.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,972,965 shares of the oil and gas exploration company’s stock valued at $11,998,000 after acquiring an additional 2,561,947 shares during the last quarter. Guggenheim Capital LLC increased its holdings in shares of Chesapeake Energy by 21.5% in the 4th quarter. Guggenheim Capital LLC now owns 11,511,578 shares of the oil and gas exploration company’s stock valued at $45,586,000 after acquiring an additional 2,035,111 shares during the last quarter. Finally, American International Group Inc. increased its holdings in shares of Chesapeake Energy by 484.5% in the 1st quarter. American International Group Inc. now owns 1,818,990 shares of the oil and gas exploration company’s stock valued at $5,493,000 after acquiring an additional 1,507,776 shares during the last quarter. Institutional investors and hedge funds own 58.17% of the company’s stock.
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 Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.
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