Traders Buy Chesapeake Energy Corp. (CHK) on Weakness
Investors bought shares of Chesapeake Energy Corp. (NYSE:CHK) on weakness during trading on Wednesday. $62.37 million flowed into the stock on the tick-up and $46.10 million flowed out of the stock on the tick-down, for a money net flow of $16.27 million into the stock. Of all equities tracked, Chesapeake Energy Corp. had the 11th highest net in-flow for the day. Chesapeake Energy Corp. traded down ($0.20) for the day and closed at $6.26
A number of analysts have recently weighed in on CHK shares. Johnson Rice upgraded shares of Chesapeake Energy Corp. from a “hold” rating to an “accumulate” rating in a research note on Tuesday, July 26th. Vetr upgraded shares of Chesapeake Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $4.99 price objective on the stock in a research note on Tuesday, May 10th. Zacks Investment Research upgraded shares of Chesapeake Energy Corp. from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Wednesday, July 27th. Capital One Financial Corp. upgraded shares of Chesapeake Energy Corp. from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, August 16th. Finally, Deutsche Bank AG increased their price objective on shares of Chesapeake Energy Corp. from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Thursday, August 18th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chesapeake Energy Corp. has an average rating of “Hold” and a consensus target price of $6.44.
The company’s market cap is $4.80 billion. The stock’s 50 day moving average price is $5.10 and its 200-day moving average price is $4.51.
Chesapeake Energy Corp. (NYSE:CHK) last released its quarterly earnings results on Thursday, August 4th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company earned ($0.11) earnings per share. Chesapeake Energy Corp.’s revenue was down 53.9% compared to the same quarter last year. On average, analysts anticipate that Chesapeake Energy Corp. will post ($0.21) earnings per share for the current fiscal year.
In related news, Director Thomas L. Ryan acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were acquired at an average cost of $5.59 per share, for a total transaction of $279,500.00. Following the acquisition, the director now directly owns 246,269 shares in the company, valued at approximately $1,376,643.71. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Archie W. Dunham acquired 350,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were bought at an average price of $6.07 per share, for a total transaction of $2,124,500.00. Following the completion of the acquisition, the director now owns 3,127,951 shares in the company, valued at $18,986,662.57. The disclosure for this purchase can be found here.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.