Chesapeake Energy Corp. (CHK) Shares Up 5.9%
Chesapeake Energy Corp. (NYSE:CHK) shares shot up 5.9% during trading on Friday . The stock traded as high as $6.66 and last traded at $6.62, with a volume of 32,456,796 shares. The stock had previously closed at $6.25.
Several research analysts have issued reports on the stock. Vetr upgraded shares of Chesapeake Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $7.06 target price on the stock in a report on Monday. Jefferies Group increased their target price on shares of Chesapeake Energy Corp. from $3.00 to $4.00 and gave the stock an “underperform” rating in a report on Friday, August 5th. Citigroup Inc. increased their target price on shares of Chesapeake Energy Corp. from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Capital One Financial Corp. upgraded shares of Chesapeake Energy Corp. from an “underweight” rating to an “equal weight” rating in a report on Tuesday, August 16th. Finally, Piper Jaffray Cos. upgraded shares of Chesapeake Energy Corp. from an “underweight” rating to a “neutral” rating and set a $4.50 target price on the stock in a report on Tuesday, July 12th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.44.
The stock’s 50 day moving average price is $5.50 and its 200-day moving average price is $4.70. The company’s market cap is $5.06 billion.
Chesapeake Energy Corp. (NYSE:CHK) last posted its quarterly earnings data on Thursday, August 4th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. During the same period in the prior year, the firm earned ($0.11) earnings per share. The firm earned $1.62 billion during the quarter, compared to analyst estimates of $1.91 billion. The company’s revenue for the quarter was down 53.9% on a year-over-year basis. Equities analysts expect that Chesapeake Energy Corp. will post ($0.21) earnings per share for the current fiscal year.
In other news, Director Archie W. Dunham acquired 350,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was acquired at an average cost of $6.07 per share, with a total value of $2,124,500.00. Following the completion of the acquisition, the director now owns 3,127,951 shares of the company’s stock, valued at $18,986,662.57. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas L. Ryan acquired 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was purchased at an average cost of $5.59 per share, with a total value of $279,500.00. Following the completion of the acquisition, the director now directly owns 246,269 shares of the company’s stock, valued at approximately $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.
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