Imperial Capital Begins Coverage on Chesapeake Energy Corporation (CHK)
Imperial Capital assumed coverage on shares of Chesapeake Energy Corporation (NYSE:CHK) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm issued an in-line rating and a $5.00 target price on the oil and gas exploration company’s stock. Imperial Capital also issued estimates for Chesapeake Energy Corporation’s Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.54 EPS and FY2018 earnings at $0.44 EPS.
CHK has been the subject of several other reports. BidaskClub upgraded Chesapeake Energy Corporation from a sell rating to a hold rating in a report on Wednesday, June 28th. Scotiabank reiterated a hold rating and issued a $5.00 price target on shares of Chesapeake Energy Corporation in a report on Friday, June 30th. Vetr downgraded Chesapeake Energy Corporation from a strong-buy rating to a buy rating and set a $5.23 price target for the company. in a report on Tuesday, July 11th. BMO Capital Markets reiterated a hold rating and issued a $3.00 price target on shares of Chesapeake Energy Corporation in a report on Tuesday, June 27th. Finally, Jefferies Group LLC set a $6.00 price target on Chesapeake Energy Corporation and gave the company a hold rating in a report on Tuesday, June 6th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $6.29.
Chesapeake Energy Corporation (NYSE CHK) opened at 4.22 on Tuesday. The stock’s market capitalization is $3.76 billion. The company has a 50-day moving average price of $3.99 and a 200-day moving average price of $4.93. Chesapeake Energy Corporation has a 12-month low of $3.55 and a 12-month high of $8.20.
Chesapeake Energy Corporation (NYSE:CHK) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned ($0.14) EPS. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, equities research analysts forecast that Chesapeake Energy Corporation will post $0.74 earnings per share for the current year.
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In other Chesapeake Energy Corporation news, Director R Brad Martin bought 25,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $4.11 per share, with a total value of $102,750.00. Following the completion of the acquisition, the director now directly owns 547,358 shares of the company’s stock, valued at approximately $2,249,641.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Archford Capital Strategies LLC bought a new stake in shares of Chesapeake Energy Corporation during the second quarter valued at approximately $984,000. Cleararc Capital Inc. raised its holdings in shares of Chesapeake Energy Corporation by 2.8% during the first quarter. Cleararc Capital Inc. now owns 18,627 shares of the oil and gas exploration company’s stock valued at $111,000 after buying an additional 508 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Chesapeake Energy Corporation during the second quarter valued at approximately $115,000. Advisory Services Network LLC raised its holdings in shares of Chesapeake Energy Corporation by 42.6% during the second quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock valued at $116,000 after buying an additional 7,000 shares during the last quarter. Finally, UBS Oconnor LLC bought a new stake in shares of Chesapeake Energy Corporation during the second quarter valued at approximately $122,000. 64.46% of the stock is currently owned by hedge funds and other institutional investors.
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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