Chesapeake Energy Corporation (NYSE:CHK) Raised to “Strong-Buy” at Vetr Inc.
Chesapeake Energy Corporation (NYSE:CHK) was upgraded by analysts at Vetr from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, August 1st. The firm presently has a $5.68 price objective on the oil and gas exploration company’s stock. Vetr‘s price objective points to a potential upside of 37.20% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada restated a “hold” rating and issued a $7.00 target price on shares of Chesapeake Energy Corporation in a report on Tuesday, April 25th. SunTrust Banks, Inc. restated a “buy” rating and issued a $9.00 target price on shares of Chesapeake Energy Corporation in a report on Monday, May 1st. Jefferies Group LLC set a $6.00 target price on shares of Chesapeake Energy Corporation and gave the company a “hold” rating in a report on Tuesday, June 6th. Macquarie cut shares of Chesapeake Energy Corporation from a “neutral” rating to an “underperform” rating and upped their target price for the company from $3.93 to $4.00 in a report on Wednesday, June 21st. Finally, Citigroup Inc. lowered their target price on shares of Chesapeake Energy Corporation from $8.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Chesapeake Energy Corporation presently has a consensus rating of “Hold” and a consensus target price of $6.55.
Shares of Chesapeake Energy Corporation (CHK) remained flat at $4.14 during midday trading on Tuesday. 32,318,168 shares of the company were exchanged. Chesapeake Energy Corporation has a 12 month low of $4.05 and a 12 month high of $8.20. The firm’s market capitalization is $3.69 billion. The company has a 50-day moving average price of $4.71 and a 200-day moving average price of $5.39.
Chesapeake Energy Corporation (NYSE:CHK) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.04. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted ($0.14) EPS. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. Equities analysts expect that Chesapeake Energy Corporation will post $0.76 EPS for the current year.
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In related news, Director R Brad Martin purchased 20,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was acquired at an average price of $5.26 per share, for a total transaction of $105,200.00. Following the acquisition, the director now directly owns 501,958 shares of the company’s stock, valued at approximately $2,640,299.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas L. Ryan purchased 75,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $5.00 per share, with a total value of $375,000.00. Following the acquisition, the director now directly owns 440,355 shares in the company, valued at $2,201,775. The disclosure for this purchase can be found here. Insiders bought a total of 115,400 shares of company stock valued at $573,020 in the last quarter. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in CHK. Vanguard Group Inc. increased its position in Chesapeake Energy Corporation by 19.3% in the second quarter. Vanguard Group Inc. now owns 108,761,169 shares of the oil and gas exploration company’s stock valued at $540,542,000 after buying an additional 17,615,861 shares during the period. Harris Associates L P increased its position in Chesapeake Energy Corporation by 96.4% in the first quarter. Harris Associates L P now owns 65,475,640 shares of the oil and gas exploration company’s stock valued at $388,926,000 after buying an additional 32,145,200 shares during the period. State Street Corp increased its position in Chesapeake Energy Corporation by 6.0% in the first quarter. State Street Corp now owns 43,785,695 shares of the oil and gas exploration company’s stock valued at $260,083,000 after buying an additional 2,476,711 shares during the period. Mackenzie Financial Corp increased its position in Chesapeake Energy Corporation by 1.9% in the first quarter. Mackenzie Financial Corp now owns 9,067,381 shares of the oil and gas exploration company’s stock valued at $53,860,000 after buying an additional 171,476 shares during the period. Finally, Northern Trust Corp increased its position in Chesapeake Energy Corporation by 5.6% in the second quarter. Northern Trust Corp now owns 8,219,258 shares of the oil and gas exploration company’s stock valued at $40,850,000 after buying an additional 433,272 shares during the period. Institutional investors and hedge funds own 64.73% 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 Vetr’s full report, visit Vetr’s official website.
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