An issue of Chesapeake Energy Co. (NYSE:CHK) debt fell 1.3% as a percentage of its face value during trading on Wednesday. The high-yield issue of debt has a 8% coupon and is set to mature on June 15, 2027. The bonds in the issue are now trading at $95.00 and were trading at $96.13 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price.

CHK has been the topic of several recent analyst reports. Zacks Investment Research raised Chesapeake Energy from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Thursday, October 25th. TheStreet raised Chesapeake Energy from a “d+” rating to a “c-” rating in a research note on Wednesday, October 31st. Morgan Stanley initiated coverage on Chesapeake Energy in a research note on Thursday, October 4th. They issued an “equal weight” rating and a $5.00 price target on the stock. Imperial Capital dropped their price target on Chesapeake Energy from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Finally, SunTrust Banks reissued a “hold” rating and issued a $3.00 price target on shares of Chesapeake Energy in a research note on Thursday, November 29th. Nine investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.12.

Shares of NYSE:CHK traded down $0.05 during trading on Wednesday, reaching $2.69. 39,278,189 shares of the stock were exchanged, compared to its average volume of 45,004,320. Chesapeake Energy Co. has a 1-year low of $1.71 and a 1-year high of $5.60. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 3.28, a PEG ratio of 0.62 and a beta of 2.04.

Chesapeake Energy (NYSE:CHK) last issued its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Chesapeake Energy had a negative return on equity of 54.07% and a net margin of 6.91%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. Chesapeake Energy’s revenue for the quarter was up 22.5% on a year-over-year basis. As a group, research analysts anticipate that Chesapeake Energy Co. will post 0.86 EPS for the current year.

In related news, Director Archie W. Dunham purchased 2,100,000 shares of the stock in a transaction that occurred on Friday, December 21st. The stock was acquired at an average cost of $1.97 per share, with a total value of $4,137,000.00. Following the transaction, the director now owns 9,347,375 shares of the company’s stock, valued at approximately $18,414,328.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas L. Ryan purchased 200,000 shares of the stock in a transaction that occurred on Monday, December 24th. The stock was bought at an average cost of $1.81 per share, with a total value of $362,000.00. Following the completion of the transaction, the director now directly owns 563,519 shares in the company, valued at approximately $1,019,969.39. The disclosure for this purchase can be found here. Insiders have bought 3,855,000 shares of company stock worth $7,965,650 over the last ninety days. 1.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its position in Chesapeake Energy by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 78,461,187 shares of the oil and gas exploration company’s stock valued at $352,290,000 after buying an additional 864,212 shares during the last quarter. Vanguard Group Inc. raised its position in Chesapeake Energy by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 78,461,187 shares of the oil and gas exploration company’s stock valued at $352,290,000 after buying an additional 864,212 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Chesapeake Energy by 31.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,738,166 shares of the oil and gas exploration company’s stock valued at $52,703,000 after buying an additional 2,777,313 shares during the last quarter. Bank of New York Mellon Corp raised its position in Chesapeake Energy by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,775,942 shares of the oil and gas exploration company’s stock valued at $51,227,000 after buying an additional 161,327 shares during the last quarter. Finally, Huber Capital Management LLC raised its position in Chesapeake Energy by 69.6% in the 3rd quarter. Huber Capital Management LLC now owns 8,505,309 shares of the oil and gas exploration company’s stock valued at $38,189,000 after buying an additional 3,491,496 shares during the last quarter. 58.73% of the stock is owned by institutional investors and hedge funds.

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Chesapeake Energy Company Profile (NYSE:CHK)

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.

See Also: Balanced Fund

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