Chesapeake Energy Co. (NYSE:CHK) Receives $2.57 Average Price Target from Analysts

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Chesapeake Energy Co. (NYSE:CHK) has been given an average recommendation of “Hold” by the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $2.57.

Several analysts recently weighed in on the company. Morgan Stanley downgraded Chesapeake Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $2.25 to $1.25 in a research report on Wednesday, November 13th. Raymond James downgraded Chesapeake Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 8th. SunTrust Banks set a $2.00 price objective on Chesapeake Energy and gave the stock a “hold” rating in a research report on Wednesday, August 7th. ValuEngine upgraded Chesapeake Energy from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, MKM Partners dropped coverage on Chesapeake Energy in a research report on Tuesday, October 8th.

In other Chesapeake Energy news, CEO Robert D. Lawler bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average price of $0.91 per share, with a total value of $45,500.00. Following the completion of the purchase, the chief executive officer now directly owns 5,133,298 shares of the company’s stock, valued at approximately $4,671,301.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Brad Martin bought 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average cost of $0.91 per share, with a total value of $227,500.00. In the last three months, insiders bought 370,681 shares of company stock valued at $323,184. Insiders own 1.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XR Securities LLC acquired a new stake in Chesapeake Energy during the third quarter worth approximately $25,000. Cresset Asset Management LLC acquired a new stake in Chesapeake Energy during the second quarter worth approximately $30,000. Moneta Group Investment Advisors LLC grew its stake in Chesapeake Energy by 169.7% during the second quarter. Moneta Group Investment Advisors LLC now owns 44,378 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 27,926 shares during the period. Howard Financial Services LTD. grew its stake in Chesapeake Energy by 75.0% during the second quarter. Howard Financial Services LTD. now owns 17,500 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 7,500 shares during the period. Finally, Spears Abacus Advisors LLC acquired a new stake in Chesapeake Energy during the second quarter worth approximately $42,000. 68.28% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:CHK traded down $0.08 during trading on Thursday, reaching $0.56. 115,915,629 shares of the company traded hands, compared to its average volume of 54,339,375. The company’s 50 day moving average is $1.24 and its two-hundred day moving average is $1.69. The firm has a market capitalization of $1.37 billion, a PE ratio of 0.62 and a beta of 2.45. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.94. Chesapeake Energy has a 52 week low of $0.55 and a 52 week high of $3.57.

Chesapeake Energy (NYSE:CHK) last released its earnings results on Tuesday, November 5th. The oil and gas exploration company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Chesapeake Energy had a net margin of 5.46% and a return on equity of 9.01%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, research analysts anticipate that Chesapeake Energy will post -0.29 EPS for the current year.

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 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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Analyst Recommendations for Chesapeake Energy (NYSE:CHK)

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