Chesapeake Energy Corporation (NYSE:CHK) Cut to “Hold” at ValuEngine

ValuEngine downgraded shares of Chesapeake Energy Corporation (NYSE:CHK) from a buy rating to a hold rating in a research report sent to investors on Friday, September 1st.

Several other equities research analysts have also commented on the stock. Citigroup Inc. reduced their price target on shares of Chesapeake Energy Corporation from $8.00 to $5.00 and set a neutral rating for the company in a research report on Friday, July 21st. Vetr raised shares of Chesapeake Energy Corporation from a buy rating to a strong-buy rating and set a $5.23 price target for the company in a research report on Monday, July 24th. Royal Bank Of Canada set a $7.00 price target on shares of Chesapeake Energy Corporation and gave the company a hold rating in a research report on Monday, May 29th. FBR & Co reaffirmed a sell rating on shares of Chesapeake Energy Corporation in a research report on Monday, May 15th. Finally, Scotiabank reaffirmed a hold rating and set a $5.00 price target on shares of Chesapeake Energy Corporation in a research report on Friday, June 30th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $6.42.

Chesapeake Energy Corporation (CHK) traded down 2.44% during midday trading on Friday, hitting $4.00. 66,705,048 shares of the company traded hands. The stock’s 50-day moving average price is $4.05 and its 200 day moving average price is $4.96. Chesapeake Energy Corporation has a 12-month low of $3.55 and a 12-month high of $8.20. The company’s market capitalization is $3.57 billion.

Chesapeake Energy Corporation (NYSE:CHK) last posted its earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) EPS. On average, equities analysts forecast that Chesapeake Energy Corporation will post $0.76 EPS for the current year.

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In other news, Director R Brad Martin bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $4.11 per share, with a total value of $102,750.00. Following the completion of the acquisition, the director now directly owns 547,358 shares of the company’s stock, valued at approximately $2,249,641.38. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CHK. Tiedemann Wealth Management LLC raised its position in Chesapeake Energy Corporation by 21.0% during the first quarter. Tiedemann Wealth Management LLC now owns 16,999 shares of the oil and gas exploration company’s stock valued at $101,000 after acquiring an additional 2,952 shares in the last quarter. Cleararc Capital Inc. raised its position in Chesapeake Energy Corporation by 2.8% during the first quarter. Cleararc Capital Inc. now owns 18,627 shares of the oil and gas exploration company’s stock valued at $111,000 after acquiring an additional 508 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Chesapeake Energy Corporation during the second quarter valued at approximately $115,000. Advisory Services Network LLC raised its position in Chesapeake Energy Corporation 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 valued at $116,000 after acquiring an additional 7,000 shares in the last quarter. Finally, UBS Oconnor LLC purchased a new position in Chesapeake Energy Corporation during the second quarter valued at approximately $122,000. Institutional investors own 64.51% of the company’s stock.

About Chesapeake Energy Corporation

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Chesapeake Energy Corporation (NYSE:CHK)

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