Chesapeake Energy Corporation (CHK) Bonds Trading 2.9% Higher

An issue of Chesapeake Energy Corporation (NYSE:CHK) debt rose 2.9% as a percentage of its face value during trading on Thursday. The debt issue has a 8% coupon and will mature on June 15, 2027. The bonds in the issue are now trading at $95.98 and were trading at $96.09 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.

A number of equities research analysts have commented on CHK shares. Piper Jaffray Companies set a $4.00 price target on Chesapeake Energy Corporation and gave the company a “hold” rating in a research note on Thursday, October 19th. Jefferies Group LLC cut Chesapeake Energy Corporation from a “hold” rating to an “underperform” rating and decreased their price target for the company from $4.00 to $2.00 in a research note on Monday, October 9th. Citigroup Inc. decreased their price target on Chesapeake Energy Corporation from $8.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, July 21st. Tudor Pickering cut Chesapeake Energy Corporation from a “buy” rating to a “hold” rating and increased their price target for the company from $3.76 to $4.00 in a research note on Tuesday, September 5th. Finally, Vetr upgraded 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 note on Monday, July 24th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Chesapeake Energy Corporation presently has an average rating of “Hold” and an average price target of $5.81.

Shares of Chesapeake Energy Corporation (CHK) remained flat at $$3.85 on Thursday. 18,916,108 shares of the company were exchanged, compared to its average volume of 35,096,191. The company has a debt-to-equity ratio of -4.17, a current ratio of 0.53 and a quick ratio of 0.53. Chesapeake Energy Corporation has a fifty-two week low of $3.41 and a fifty-two week high of $8.20. The company has a market capitalization of $3,500.00, a price-to-earnings ratio of 6.57 and a beta of 2.18.

Chesapeake Energy Corporation (NYSE:CHK) last issued its quarterly earnings data on Thursday, November 2nd. The oil and gas exploration company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Chesapeake Energy Corporation had a negative return on equity of 19.93% and a net margin of 2.77%. The company had revenue of $979.00 million for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $0.09 earnings per share. Chesapeake Energy Corporation’s quarterly revenue was down 16.8% compared to the same quarter last year. research analysts predict that Chesapeake Energy Corporation will post 0.74 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Chicago Equity Partners LLC acquired a new stake in Chesapeake Energy Corporation in the second quarter valued at approximately $1,524,000. BlueCrest Capital Management Ltd lifted its position in shares of Chesapeake Energy Corporation by 341.2% in the second quarter. BlueCrest Capital Management Ltd now owns 582,336 shares of the oil and gas exploration company’s stock valued at $2,894,000 after acquiring an additional 450,336 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Chesapeake Energy Corporation by 254.5% in the first quarter. AQR Capital Management LLC now owns 414,592 shares of the oil and gas exploration company’s stock valued at $2,463,000 after acquiring an additional 297,648 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Chesapeake Energy Corporation by 20.5% in the second quarter. Rhumbline Advisers now owns 1,472,577 shares of the oil and gas exploration company’s stock valued at $7,319,000 after acquiring an additional 250,972 shares in the last quarter. Finally, Cutler Capital Management LLC lifted its position in shares of Chesapeake Energy Corporation by 50.0% in the second quarter. Cutler Capital Management LLC now owns 36,000 shares of the oil and gas exploration company’s stock valued at $179,000 after acquiring an additional 12,000 shares in the last quarter. 64.71% of the stock is currently owned by institutional investors.

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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.

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