Piper Jaffray Companies Reiterates Hold Rating for Chesapeake Energy (CHK)
Chesapeake Energy (NYSE:CHK)‘s stock had its “hold” rating reiterated by investment analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday. They currently have a $5.00 target price on the oil and gas exploration company’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 22.55% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. SunTrust Banks reiterated a “buy” rating and issued a $6.00 price target on shares of Chesapeake Energy in a report on Wednesday, January 3rd. ValuEngine downgraded Chesapeake Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Credit Suisse Group assumed coverage on Chesapeake Energy in a research report on Monday, December 11th. They set an “underperform” rating and a $3.00 price objective for the company. Scotiabank set a $4.00 price objective on Chesapeake Energy and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Finally, BMO Capital Markets set a $4.00 price objective on Chesapeake Energy and gave the company a “hold” rating in a research report on Tuesday, November 14th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.15.
Shares of Chesapeake Energy (NYSE:CHK) traded up $0.11 during midday trading on Tuesday, hitting $4.08. The stock had a trading volume of 21,962,903 shares, compared to its average volume of 30,805,100. Chesapeake Energy has a 1-year low of $3.41 and a 1-year high of $7.29. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of -4.17. The company has a market cap of $3,700.00, a P/E ratio of -7.03 and a beta of 2.16.
Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Thursday, November 2nd. The oil and gas exploration company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. Chesapeake Energy had a negative return on equity of 19.93% and a net margin of 2.77%. The business had revenue of $979.00 million during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was down 16.8% on a year-over-year basis. research analysts forecast that Chesapeake Energy will post 0.75 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Chesapeake Energy by 19.3% during the 2nd quarter. Vanguard Group Inc. now owns 108,761,169 shares of the oil and gas exploration company’s stock worth $540,542,000 after acquiring an additional 17,615,861 shares during the period. State Street Corp boosted its position in Chesapeake Energy by 9.1% during the 2nd quarter. State Street Corp now owns 47,768,507 shares of the oil and gas exploration company’s stock worth $237,402,000 after acquiring an additional 3,982,812 shares during the period. Northern Trust Corp boosted its position in Chesapeake Energy by 5.6% during the 2nd quarter. Northern Trust Corp now owns 8,219,258 shares of the oil and gas exploration company’s stock worth $40,850,000 after acquiring an additional 433,272 shares during the period. Bank of New York Mellon Corp boosted its position in Chesapeake Energy by 6.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,784,218 shares of the oil and gas exploration company’s stock worth $29,172,000 after acquiring an additional 402,974 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Chesapeake Energy by 55.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 6,181,585 shares of the oil and gas exploration company’s stock worth $26,581,000 after acquiring an additional 2,208,035 shares during the period. Institutional investors own 63.98% of the company’s stock.
Chesapeake Energy Company Profile
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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