Chesapeake Energy Corp. (NYSE:CHK)’s share price dropped 8.5% during trading on Tuesday . The stock traded as low as $4.13 and last traded at $4.20, with a volume of 19,420,298 shares. The stock had previously closed at $4.59.

CHK has been the subject of several recent research reports. Vetr lowered shares of Chesapeake Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $6.62 price target for the company. in a research report on Monday, April 18th. Deutsche Bank AG restated a “hold” rating and set a $5.00 price target (up previously from $4.00) on shares of Chesapeake Energy Corp. in a research report on Friday, March 11th. Citigroup Inc. upgraded shares of Chesapeake Energy Corp. to a “hold” rating in a research report on Tuesday, April 12th. Credit Suisse Group AG restated a “neutral” rating on shares of Chesapeake Energy Corp. in a research report on Friday, May 13th. Finally, Zacks Investment Research upgraded shares of Chesapeake Energy Corp. from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a research report on Tuesday. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.22.

The stock has a 50-day moving average of $4.33 and a 200-day moving average of $4.20. The company’s market capitalization is $3.04 billion.

Chesapeake Energy Corp. (NYSE:CHK) last posted its earnings results on Thursday, May 5th. The oil and gas exploration company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue was down 39.3% compared to the same quarter last year. Equities research analysts anticipate that Chesapeake Energy Corp. will post ($0.35) EPS for the current fiscal year.

Several hedge funds and institutional investors have bought and sold shares of the company. Harris Associates L P raised its position in Chesapeake Energy Corp. by 13.1% in the fourth quarter. Harris Associates L P now owns 50,304,650 shares of the oil and gas exploration company’s stock worth $226,371,000 after buying an additional 5,826,425 shares during the last quarter. Marshall Wace LLP acquired a new position in Chesapeake Energy Corp. during the fourth quarter worth $13,395,000. OppenheimerFunds Inc. raised its position in Chesapeake Energy Corp. by 75.1% in the fourth quarter. OppenheimerFunds Inc. now owns 5,021,633 shares of the oil and gas exploration company’s stock worth $22,578,000 after buying an additional 2,154,181 shares during the last quarter. Sei Investments Co. raised its position in Chesapeake Energy Corp. by 165.9% in the fourth quarter. Sei Investments Co. now owns 2,305,951 shares of the oil and gas exploration company’s stock worth $10,377,000 after buying an additional 1,438,864 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Chesapeake Energy Corp. by 13.9% in the fourth quarter. California Public Employees Retirement System now owns 2,495,074 shares of the oil and gas exploration company’s stock worth $11,228,000 after buying an additional 305,000 shares during the last quarter.

Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.

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