Equities analysts predict that Chesapeake Energy Co. (NYSE:CHK) will announce ($0.03) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Chesapeake Energy’s earnings, with estimates ranging from ($0.07) to $0.06. Chesapeake Energy posted earnings of $0.15 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 120%. The company is scheduled to announce its next earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that Chesapeake Energy will report full-year earnings of ($0.06) per share for the current fiscal year, with EPS estimates ranging from ($0.27) to $0.23. For the next year, analysts expect that the business will post earnings of $0.19 per share, with EPS estimates ranging from ($0.15) to $0.94. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Chesapeake Energy.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $1.13 billion. Chesapeake Energy had a net margin of 5.39% and a negative return on equity of 138.70%. The firm’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS.
A number of brokerages recently issued reports on CHK. Zacks Investment Research lowered Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 16th. Argus lowered Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. SunTrust Banks reiterated a “hold” rating on shares of Chesapeake Energy in a report on Wednesday, May 8th. Guggenheim restated a “neutral” rating on shares of Chesapeake Energy in a report on Wednesday, April 17th. Finally, Goldman Sachs Group lowered 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 report on Friday, April 12th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $4.01.
Shares of NYSE CHK traded down $0.05 during trading hours on Friday, reaching $2.01. The stock had a trading volume of 36,304,729 shares, compared to its average volume of 45,620,051. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 2.23 and a beta of 2.39. Chesapeake Energy has a 52-week low of $1.71 and a 52-week high of $5.60.
In other Chesapeake Energy news, major shareholder Ngp Energy Capital Management, sold 568,424 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Advisory Services Network LLC increased its position in shares of Chesapeake Energy by 206.8% during the first quarter. Advisory Services Network LLC now owns 94,764 shares of the oil and gas exploration company’s stock worth $294,000 after purchasing an additional 63,874 shares in the last quarter. Cleararc Capital Inc. acquired a new position in shares of Chesapeake Energy during the first quarter worth $83,000. Metropolitan Life Insurance Co NY increased its position in shares of Chesapeake Energy by 16.9% during the first quarter. Metropolitan Life Insurance Co NY now owns 305,326 shares of the oil and gas exploration company’s stock worth $946,000 after purchasing an additional 44,101 shares in the last quarter. IHT Wealth Management LLC acquired a new position in shares of Chesapeake Energy during the first quarter worth $64,000. Finally, BlueCrest Capital Management Ltd increased its position in shares of Chesapeake Energy by 301.7% during the first quarter. BlueCrest Capital Management Ltd now owns 41,692 shares of the oil and gas exploration company’s stock worth $129,000 after purchasing an additional 31,314 shares in the last quarter. 47.64% of the stock is currently owned by institutional investors and hedge funds.
About Chesapeake Energy
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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