Benchmark Cuts Chesapeake Energy (NASDAQ:CHK) Price Target to $93.00

Chesapeake Energy (NASDAQ:CHK) had its target price lowered by research analysts at Benchmark from $107.00 to $93.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 7.50% from the company’s previous close.

CHK has been the topic of several other research reports. KeyCorp began coverage on shares of Chesapeake Energy in a report on Thursday, April 4th. They issued a “sector weight” rating on the stock. UBS Group boosted their price objective on shares of Chesapeake Energy from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Barclays initiated coverage on shares of Chesapeake Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 price target on the stock. Scotiabank upped their price target on shares of Chesapeake Energy from $92.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Mizuho upped their price target on shares of Chesapeake Energy from $100.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Chesapeake Energy presently has a consensus rating of “Hold” and a consensus target price of $105.83.

Chesapeake Energy Stock Performance

NASDAQ CHK traded down $0.17 during trading hours on Thursday, hitting $86.51. 308,585 shares of the company’s stock traded hands, compared to its average volume of 2,034,451. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.19. Chesapeake Energy has a 52 week low of $72.84 and a 52 week high of $93.58. The firm has a market capitalization of $11.31 billion, a P/E ratio of 11.64 and a beta of 0.51. The business’s fifty day moving average price is $86.43 and its two-hundred day moving average price is $82.10.

Chesapeake Energy (NASDAQ:CHK) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.08). Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.89%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $674.99 million. During the same period in the prior year, the firm earned $1.87 EPS. Equities research analysts predict that Chesapeake Energy will post 1.76 EPS for the current year.

Institutional Investors Weigh In On Chesapeake Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG grew its stake in Chesapeake Energy by 14.7% in the 3rd quarter. Deutsche Bank AG now owns 261,978 shares of the company’s stock valued at $22,590,000 after acquiring an additional 33,660 shares during the period. Townsquare Capital LLC lifted its holdings in Chesapeake Energy by 6.6% in the 3rd quarter. Townsquare Capital LLC now owns 13,104 shares of the company’s stock valued at $1,130,000 after purchasing an additional 816 shares in the last quarter. Yousif Capital Management LLC purchased a new position in Chesapeake Energy in the 3rd quarter valued at $4,510,000. Cottage Street Advisors LLC purchased a new position in Chesapeake Energy in the 3rd quarter valued at $1,693,000. Finally, Kimmeridge Energy Management Company LLC raised its holdings in shares of Chesapeake Energy by 16.2% during the 3rd quarter. Kimmeridge Energy Management Company LLC now owns 3,153,879 shares of the company’s stock worth $271,959,000 after acquiring an additional 439,186 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.