Chesapeake Energy (CHK) Given a $3.00 Price Target at MKM Partners

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Chesapeake Energy (NYSE:CHK) has been given a $3.00 price target by equities researchers at MKM Partners in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the oil and gas exploration company’s stock. MKM Partners’ price target suggests a potential upside of 0.67% from the company’s previous close.

CHK has been the topic of several other research reports. Zacks Investment Research downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. UBS Group set a $2.00 target price on Chesapeake Energy and gave the company a “sell” rating in a research note on Monday, January 14th. Raymond James lifted their target price on Chesapeake Energy from $3.50 to $4.00 and gave the company an “outperform” rating in a research note on Friday, January 11th. Imperial Capital cut their target price on Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating on the stock in a research note on Thursday, January 10th. Finally, Citigroup raised Chesapeake Energy from a “sell” rating to a “neutral” rating and lifted their target price for the company from $3.50 to $4.50 in a research note on Monday, November 12th. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $4.05.

NYSE:CHK opened at $2.98 on Tuesday. Chesapeake Energy has a 12-month low of $1.71 and a 12-month high of $5.60. The company has a market cap of $2.87 billion, a P/E ratio of 3.31, a P/E/G ratio of 0.62 and a beta of 2.37.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings data on Wednesday, February 27th. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Chesapeake Energy had a negative return on equity of 54.07% and a net margin of 6.91%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. Equities analysts forecast that Chesapeake Energy will post 0.6 earnings per share for the current fiscal year.

In related news, Director Thomas L. Ryan bought 200,000 shares of the firm’s stock in a transaction that occurred on Monday, December 24th. The shares were acquired at an average cost of $1.81 per share, for a total transaction of $362,000.00. Following the acquisition, the director now directly owns 563,519 shares of the company’s stock, valued at approximately $1,019,969.39. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Archie W. Dunham bought 2,100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The stock was bought at an average price of $1.97 per share, for a total transaction of $4,137,000.00. Following the completion of the acquisition, the director now directly owns 9,347,375 shares in the company, valued at $18,414,328.75. The disclosure for this purchase can be found here. Insiders bought a total of 3,805,000 shares of company stock worth $7,788,650 in the last three months. Company insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of 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 worth $19,357,000 after acquiring an additional 458,983 shares during the last quarter. Norges Bank acquired a new position in shares of Chesapeake Energy in the 4th quarter worth $21,828,000. Financial Advocates Investment Management grew its holdings in shares of Chesapeake Energy by 158.3% in 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 acquiring an additional 3,729 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 worth $26,109,000 after acquiring an additional 693,504 shares during the last quarter. Finally, Executive Wealth Management LLC acquired a new position in shares of Chesapeake Energy in the 4th quarter worth $30,000. Institutional investors and hedge funds own 61.01% 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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Analyst Recommendations for Chesapeake Energy (NYSE:CHK)

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