Chesapeake Energy (NASDAQ:CHK) Shares Up 5.2%

Chesapeake Energy Co. (NASDAQ:CHK)’s stock price traded up 5.2% during mid-day trading on Wednesday . The company traded as high as $64.90 and last traded at $64.90. 3,030 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 1,213,438 shares. The stock had previously closed at $61.69.

Several analysts have issued reports on CHK shares. BMO Capital Markets initiated coverage on Chesapeake Energy in a research note on Friday, August 27th. They issued an “outperform” rating and a $70.00 target price on the stock. Capital One Financial raised shares of Chesapeake Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 11th. Wells Fargo & Company downgraded shares of Chesapeake Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 target price for the company. in a research note on Monday, August 23rd. Zacks Investment Research raised shares of Chesapeake Energy from a “hold” rating to a “strong-buy” rating and set a $63.00 price target on the stock in a research report on Thursday, August 5th. Finally, Royal Bank of Canada raised their price objective on shares of Chesapeake Energy from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, August 31st. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $68.50.

The stock has a market capitalization of $6.34 billion and a P/E ratio of -1.42. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $55.14 and a two-hundred day moving average price of $50.92.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings data on Monday, August 9th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.20 by $0.44. Chesapeake Energy had a net margin of 100.67% and a negative return on equity of 301.73%. On average, sell-side analysts expect that Chesapeake Energy Co. will post 8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Tuesday, August 24th were issued a $0.344 dividend. The ex-dividend date was Monday, August 23rd. This represents a $1.38 annualized dividend and a dividend yield of 2.13%. Chesapeake Energy’s payout ratio is currently -3.17%.

A number of hedge funds and other institutional investors have recently made changes to their positions in CHK. New York State Common Retirement Fund bought a new position in shares of Chesapeake Energy during the 2nd quarter valued at about $4,398,000. Ruffer LLP grew its stake in shares of Chesapeake Energy by 198.3% during the second quarter. Ruffer LLP now owns 2,594,944 shares of the company’s stock valued at $134,689,000 after buying an additional 1,724,944 shares during the last quarter. Credit Suisse AG purchased a new position in shares of Chesapeake Energy in the first quarter worth about $4,773,000. Alliancebernstein L.P. bought a new stake in shares of Chesapeake Energy in the 1st quarter valued at about $5,424,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Chesapeake Energy during the 1st quarter valued at about $1,686,000.

Chesapeake Energy Company Profile (NASDAQ: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; and Powder River Basin in Wyoming.

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