Chesapeake Energy Co. (CHK) Sees Large Decrease in Short Interest

Chesapeake Energy Co. (NYSE:CHK) saw a significant decrease in short interest during the month of December. As of December 29th, there was short interest totalling 158,184,464 shares, a decrease of 4.7% from the December 15th total of 165,924,000 shares. Based on an average daily volume of 23,424,915 shares, the short-interest ratio is currently 6.8 days. Approximately 17.7% of the company’s stock are sold short.

Chesapeake Energy (NYSE:CHK) opened at $3.95 on Friday. The firm has a market cap of $3,590.00, a PE ratio of -6.81 and a beta of 2.16. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of -4.17. Chesapeake Energy has a 1 year low of $3.41 and a 1 year high of $7.29.

Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas exploration company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The company had revenue of $979.00 million during the quarter, compared to analyst estimates of $1.05 billion. Chesapeake Energy had a net margin of 2.77% and a negative return on equity of 19.93%. The firm’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. equities analysts forecast that Chesapeake Energy will post 0.76 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC boosted its position in Chesapeake Energy by 42.6% during the second quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock worth $116,000 after purchasing an additional 7,000 shares during the period. UBS Oconnor LLC bought a new position in Chesapeake Energy during the second quarter worth about $122,000. Gotham Asset Management LLC bought a new position in Chesapeake Energy during the second quarter worth about $126,000. Sapphire Star Partners LP bought a new position in Chesapeake Energy during the third quarter worth about $143,000. Finally, Thrivent Financial For Lutherans boosted its position in Chesapeake Energy by 4.2% during the second quarter. Thrivent Financial For Lutherans now owns 30,015 shares of the oil and gas exploration company’s stock worth $149,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 63.89% of the company’s stock.

Several brokerages have recently commented on CHK. BMO Capital Markets set a $4.00 target price on shares of Chesapeake Energy and gave the company a “hold” rating in a report on Tuesday, November 14th. SunTrust Banks reiterated a “buy” rating and issued a $6.00 target price on shares of Chesapeake Energy in a report on Wednesday, January 3rd. Mizuho reiterated a “hold” rating and issued a $5.00 target price on shares of Chesapeake Energy in a report on Friday, September 29th. Jefferies Group downgraded shares of Chesapeake Energy from a “hold” rating to an “underperform” rating and lowered their target price for the company from $4.00 to $2.00 in a report on Monday, October 9th. Finally, ValuEngine upgraded shares of Chesapeake Energy from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Chesapeake Energy has a consensus rating of “Hold” and a consensus price target of $5.29.

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Chesapeake Energy Company Profile

Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.

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