JPMorgan Chase & Co. downgraded shares of Chesapeake Energy (NYSE:CHK) from a neutral rating to an underweight rating in a research report sent to investors on Friday, MarketBeat.com reports. The brokerage currently has $2.72 price objective on the oil and gas exploration company’s stock.
Other analysts have also issued reports about the stock. SunTrust Banks lowered shares of Chesapeake Energy from a buy rating to a hold rating in a research report on Monday, September 24th. They noted that the move was a valuation call. Wolfe Research lowered shares of Chesapeake Energy from a peer perform rating to an underperform rating in a research report on Thursday, August 16th. Credit Suisse Group set a $3.00 price target on shares of Chesapeake Energy and gave the company a sell rating in a research report on Wednesday, October 31st. MKM Partners assumed coverage on shares of Chesapeake Energy in a research report on Wednesday. They set a neutral rating and a $3.00 price target for the company. Finally, Susquehanna Bancshares upgraded shares of Chesapeake Energy from a neutral rating to a positive rating and set a $5.00 price target for the company in a research report on Wednesday, October 31st. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $4.61.
CHK remained flat at $$2.72 during trading on Friday. The company had a trading volume of 37,594,975 shares, compared to its average volume of 30,236,134. The company has a market capitalization of $2.49 billion, a PE ratio of 3.32, a PEG ratio of 0.33 and a beta of 1.92. Chesapeake Energy has a 1-year low of $2.53 and a 1-year high of $5.60.
Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s revenue was up 22.5% on a year-over-year basis. On average, research analysts predict that Chesapeake Energy will post 0.85 EPS for the current fiscal year.
In other news, EVP James R. Webb bought 50,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was bought at an average cost of $3.54 per share, for a total transaction of $177,000.00. Following the completion of the acquisition, the executive vice president now owns 871,548 shares in the company, valued at approximately $3,085,279.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. LMR Partners LLP purchased a new stake in shares of Chesapeake Energy during the second quarter worth about $123,000. American Century Companies Inc. purchased a new stake in shares of Chesapeake Energy during the second quarter worth about $128,000. Smart Money Group LLC purchased a new stake in shares of Chesapeake Energy during the third quarter worth about $129,000. Lourd Capital LLC purchased a new stake in shares of Chesapeake Energy during the third quarter worth about $162,000. Finally, Montag A & Associates Inc. purchased a new stake in shares of Chesapeake Energy during the third quarter worth about $163,000. Institutional investors own 58.71% 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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