Chesapeake Energy (CHK) Shares Gap Down to $2.50

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Chesapeake Energy Co. (NYSE:CHK)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $2.52, but opened at $2.50. Chesapeake Energy shares last traded at $2.57, with a volume of 910310 shares.

A number of equities analysts have recently issued reports on the stock. Goldman Sachs Group lowered shares of Chesapeake Energy from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $2.75 to $2.50 in a research report on Friday, April 12th. They noted that the move was a valuation call. Raymond James set a $5.00 target price on shares of Chesapeake Energy and gave the stock a “buy” rating in a research report on Tuesday, March 19th. MKM Partners set a $3.00 target price on shares of Chesapeake Energy and gave the stock a “hold” rating in a research report on Tuesday, March 5th. Guggenheim restated a “neutral” rating on shares of Chesapeake Energy in a research report on Wednesday, April 17th. Finally, Citigroup raised their target price on shares of Chesapeake Energy from $2.50 to $3.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Chesapeake Energy currently has a consensus rating of “Hold” and a consensus target price of $4.01.

The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.72. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 2.82, a price-to-earnings-growth ratio of 0.61 and a beta of 2.39.

Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Chesapeake Energy had a negative return on equity of 138.70% and a net margin of 5.39%. The company had revenue of $929.00 million for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business earned $0.34 earnings per share. Chesapeake Energy’s revenue for the quarter was down 25.3% compared to the same quarter last year. As a group, research analysts predict that Chesapeake Energy Co. will post 0.63 EPS for the current fiscal year.

In related news, major shareholder Ngp Energy Capital Management, sold 568,424 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3.25, for a total transaction of $1,847,378.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Carlyle Group L.P. acquired a new stake in Chesapeake Energy in the first quarter valued at $535,982,000. AQR Capital Management LLC lifted its holdings in Chesapeake Energy by 301.6% in the first quarter. AQR Capital Management LLC now owns 20,994,654 shares of the oil and gas exploration company’s stock valued at $65,083,000 after acquiring an additional 15,766,956 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Chesapeake Energy by 52.5% in the first quarter. Dimensional Fund Advisors LP now owns 18,955,858 shares of the oil and gas exploration company’s stock valued at $58,765,000 after acquiring an additional 6,524,188 shares during the period. Bank of New York Mellon Corp lifted its holdings in Chesapeake Energy by 21.9% in the fourth 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 acquiring an additional 2,146,047 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Chesapeake Energy by 20.1% in the first quarter. Geode Capital Management LLC now owns 11,067,910 shares of the oil and gas exploration company’s stock valued at $34,309,000 after acquiring an additional 1,849,948 shares during the period. 58.81% of the stock is owned by hedge funds and other institutional investors.

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Chesapeake Energy Company Profile (NYSE:CHK)

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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