Chesapeake Energy Corp. (CHK) Trading 5.7% Higher
Chesapeake Energy Corp. (NYSE:CHK) traded up 5.7% on Wednesday . The stock traded as high as $5.19 and last traded at $5.18, with a volume of 33,590,101 shares. The stock had previously closed at $4.90.
Several equities research analysts recently weighed in on the company. Vetr downgraded Chesapeake Energy Corp. from a “hold” rating to a “sell” rating and set a $6.52 price target for the company. in a report on Wednesday, April 27th. Piper Jaffray Cos. raised Chesapeake Energy Corp. from an “underweight” rating to a “neutral” rating and set a $4.50 price target for the company in a report on Tuesday, July 12th. KLR Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Chesapeake Energy Corp. in a report on Thursday, June 9th. Argus reaffirmed a “hold” rating on shares of Chesapeake Energy Corp. in a report on Thursday, June 23rd. Finally, Johnson Rice raised Chesapeake Energy Corp. from a “hold” rating to an “accumulate” rating in a report on Tuesday, July 26th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Chesapeake Energy Corp. has a consensus rating of “Hold” and a consensus target price of $6.58.
The company has a 50-day moving average of $4.64 and a 200-day moving average of $4.27. The company’s market cap is $3.56 billion.
Chesapeake Energy Corp. (NYSE:CHK) last posted its quarterly earnings results on Thursday, May 5th. The oil and gas exploration company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate 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 quarterly revenue was down 39.3% on a year-over-year basis. On average, equities research analysts predict that Chesapeake Energy Corp. will post ($0.32) earnings per share for the current fiscal year.
A number of hedge funds and institutional investors have bought and sold shares of the stock. Nationwide Fund Advisors raised its position in Chesapeake Energy Corp. by 14.0% in the fourth quarter. Nationwide Fund Advisors now owns 518,183 shares of the oil and gas exploration company’s stock valued at $2,332,000 after buying an additional 63,711 shares during the last quarter. Rhumbline Advisers raised its position in Chesapeake Energy Corp. by 4.3% in the fourth quarter. Rhumbline Advisers now owns 715,619 shares of the oil and gas exploration company’s stock valued at $3,220,000 after buying an additional 29,328 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Chesapeake Energy Corp. during the fourth quarter valued at $13,395,000.
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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