Chesapeake Energy Corp. (NYSE:CHK) dropped 3.2% during trading on Wednesday . The stock traded as low as $6.18 and last traded at $6.30, with a volume of 20,142,697 shares. The stock had previously closed at $6.51.

A number of research analysts recently issued reports on CHK shares. Vetr upgraded shares of Chesapeake Energy Corp. from a “strong sell” rating to a “strong-buy” rating and set a $7.06 target price for the company in a research report on Monday, August 22nd. Credit Suisse Group AG restated a “neutral” rating on shares of Chesapeake Energy Corp. in a research report on Friday, May 13th. Zacks Investment Research upgraded shares of Chesapeake Energy Corp. from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research report on Tuesday, July 5th. Finally, Simmons upgraded shares of Chesapeake Energy Corp. from an “underweight” rating to a “neutral” rating and set a $4.50 target price for the company in a research report on Tuesday, July 12th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.44.

The company has a 50-day moving average of $5.44 and a 200 day moving average of $4.69. The company’s market cap is $5.06 billion.

Chesapeake Energy Corp. (NYSE:CHK) last announced its earnings results on Thursday, August 4th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. The company’s revenue was down 53.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.11) EPS. Equities research analysts anticipate that Chesapeake Energy Corp. will post ($0.21) earnings per share for the current year.

In other news, Director Archie W. Dunham purchased 350,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was acquired at an average cost of $6.07 per share, for a total transaction of $2,124,500.00. Following the completion of the acquisition, the director now directly owns 3,127,951 shares in the company, valued at approximately $18,986,662.57. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas L. Ryan purchased 50,000 shares of the stock in a transaction dated Wednesday, August 17th. The shares were purchased at an average price of $5.59 per share, with a total value of $279,500.00. Following the completion of the acquisition, the director now owns 246,269 shares of the company’s stock, valued at $1,376,643.71. 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.