An issue of Chesapeake Energy Corporation (NYSE:CHK) debt rose 1.5% as a percentage of its face value during trading on Tuesday after Piper Jaffray Companies lowered their price target on the stock from $6.00 to $4.00. The high-yield debt issue has a 8% coupon and is set to mature on January 15, 2025. The bonds in the issue are now trading at $101.25 and were trading at $97.75 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

CHK has been the topic of several other reports. Scotiabank set a $5.00 price target on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. Vetr upgraded shares of Chesapeake Energy Corporation from a “buy” rating to a “strong-buy” rating and set a $5.23 price target for the company in a report on Monday, July 24th. Royal Bank of Canada set a $7.00 price target on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Monday, May 29th. BidaskClub lowered shares of Chesapeake Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, ValuEngine lowered shares of Chesapeake Energy Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Chesapeake Energy Corporation presently has an average rating of “Hold” and a consensus target price of $6.29.

In other Chesapeake Energy Corporation news, Director R Brad Martin acquired 20,400 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were acquired at an average cost of $4.55 per share, with a total value of $92,820.00. Following the completion of the acquisition, the director now directly owns 522,358 shares in the company, valued at $2,376,728.90. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.14% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its position in shares of Chesapeake Energy Corporation by 1.0% during the first quarter. Amalgamated Bank now owns 94,374 shares of the oil and gas exploration company’s stock valued at $561,000 after buying an additional 958 shares during the period. State Street Corp increased its position in shares of Chesapeake Energy Corporation by 6.0% during the first quarter. State Street Corp now owns 43,785,695 shares of the oil and gas exploration company’s stock valued at $260,083,000 after buying an additional 2,476,711 shares during the period. US Bancorp DE increased its position in shares of Chesapeake Energy Corporation by 26.3% during the first quarter. US Bancorp DE now owns 37,164 shares of the oil and gas exploration company’s stock valued at $221,000 after buying an additional 7,733 shares during the period. Westwood Holdings Group Inc. increased its position in shares of Chesapeake Energy Corporation by 13.0% during the first quarter. Westwood Holdings Group Inc. now owns 4,379,718 shares of the oil and gas exploration company’s stock valued at $26,015,000 after buying an additional 504,570 shares during the period. Finally, Karp Capital Management Corp bought a new stake in shares of Chesapeake Energy Corporation during the first quarter valued at about $1,583,000. Hedge funds and other institutional investors own 64.46% of the company’s stock.

The stock’s market capitalization is $3.60 billion. The stock has a 50 day moving average of $3.99 and a 200 day moving average of $4.94.

Chesapeake Energy Corporation (NYSE:CHK) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. Chesapeake Energy Corporation had a negative return on equity of 16.10% and a negative net margin of 9.52%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted ($0.14) EPS. The company’s revenue was up 40.6% compared to the same quarter last year. On average, equities research analysts expect that Chesapeake Energy Corporation will post $0.76 EPS for the current year.

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About Chesapeake Energy Corporation

Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.

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