Chesapeake Energy Co. (CHK) Short Interest Update
Chesapeake Energy Co. (NYSE:CHK) was the recipient of a large decline in short interest in March. As of March 29th, there was short interest totalling 204,700,080 shares, a decline of 3.0% from the March 15th total of 211,097,328 shares. Based on an average daily trading volume, of 45,749,287 shares, the days-to-cover ratio is currently 4.5 days. Approximately 22.9% of the company’s stock are short sold.
Several brokerages have commented on CHK. Mizuho cut shares of Chesapeake Energy from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $4.28 to $8.00 in a research report on Tuesday, January 16th. SunTrust Banks reissued a “buy” rating and set a $6.00 price target on shares of Chesapeake Energy in a research report on Wednesday, January 3rd. Piper Jaffray reissued a “hold” rating and set a $5.00 price target on shares of Chesapeake Energy in a research report on Tuesday, January 9th. ValuEngine cut shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research cut shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, March 21st. Nine investment analysts have rated the stock with a sell rating, eleven have given 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 a consensus target price of $4.63.
Several institutional investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC increased its stake in shares of Chesapeake Energy by 21.5% during the 4th quarter. Guggenheim Capital LLC now owns 11,511,578 shares of the oil and gas exploration company’s stock worth $45,586,000 after purchasing an additional 2,035,111 shares during the last quarter. Geode Capital Management LLC grew its stake in Chesapeake Energy by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 10,624,320 shares of the oil and gas exploration company’s stock valued at $42,009,000 after buying an additional 376,710 shares during the last quarter. Mackenzie Financial Corp grew its stake in Chesapeake Energy by 0.5% in the 4th quarter. Mackenzie Financial Corp now owns 9,531,633 shares of the oil and gas exploration company’s stock valued at $37,745,000 after buying an additional 50,413 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Chesapeake Energy by 5.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 6,548,735 shares of the oil and gas exploration company’s stock valued at $25,933,000 after buying an additional 367,150 shares during the last quarter. Finally, Creative Planning grew its stake in Chesapeake Energy by 58.0% in the 4th quarter. Creative Planning now owns 1,762,031 shares of the oil and gas exploration company’s stock valued at $6,978,000 after buying an additional 646,642 shares during the last quarter. Institutional investors own 61.81% of the company’s stock.
Chesapeake Energy (NYSE:CHK) last released its quarterly earnings data on Thursday, February 22nd. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $1.26 billion. Chesapeake Energy had a net margin of 9.73% and a negative return on equity of 32.26%. Chesapeake Energy’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. research analysts expect that Chesapeake Energy will post 0.74 EPS for the current fiscal year.
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Chesapeake Energy Company Profile
Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.
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