Chesapeake Energy Co. (NYSE:CHK)’s share price traded up 6.1% on Monday . The company traded as high as $3.17 and last traded at $3.15. 35,839,930 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 46,968,520 shares. The stock had previously closed at $2.97.
A number of equities analysts have weighed in on the company. UBS Group set a $2.00 target price on Chesapeake Energy and gave the stock a “sell” rating in a research report on Monday, January 14th. JPMorgan Chase & Co. lowered Chesapeake Energy from a “neutral” rating to an “underweight” rating and set a $2.72 target price for the company. in a research report on Friday, December 7th. Citigroup boosted their target price on Chesapeake Energy from $2.50 to $3.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Imperial Capital decreased their target price on Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating for the company in a research report on Thursday, January 10th. Finally, SunTrust Banks reissued a “hold” rating and issued a $3.00 target price on shares of Chesapeake Energy in a research report on Thursday, November 29th. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Chesapeake Energy presently has an average rating of “Hold” and a consensus price target of $4.05.
The company has a market cap of $5.14 billion, a PE ratio of 3.50, a PEG ratio of 0.79 and a beta of 2.44.
Chesapeake Energy (NYSE:CHK) last released its quarterly earnings results on Wednesday, February 27th. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Chesapeake Energy had a negative return on equity of 58.05% and a net margin of 8.31%. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. As a group, equities analysts predict that Chesapeake Energy Co. will post 0.55 earnings per share for the current fiscal year.
In related news, CEO Robert D. Lawler acquired 100,000 shares of the business’s stock in a transaction that occurred on Thursday, December 20th. The stock was bought at an average cost of $1.86 per share, for a total transaction of $186,000.00. Following the purchase, the chief executive officer now owns 4,154,419 shares in the company, valued at approximately $7,727,219.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas L. Ryan acquired 200,000 shares of the business’s stock in a transaction that occurred on Monday, December 24th. The shares were bought at an average price of $1.81 per share, with a total value of $362,000.00. Following the completion of the purchase, the director now owns 563,519 shares in the company, valued at approximately $1,019,969.39. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 3,730,000 shares of company stock valued at $7,597,400. 1.70% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Chesapeake Energy in the 4th quarter worth approximately $21,828,000. Renaissance Technologies LLC purchased a new position in Chesapeake Energy in the 3rd quarter worth approximately $35,840,000. Huber Capital Management LLC lifted its holdings in Chesapeake Energy by 69.6% in the 3rd quarter. Huber Capital Management LLC now owns 8,505,309 shares of the oil and gas exploration company’s stock worth $38,189,000 after purchasing an additional 3,491,496 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chesapeake Energy by 31.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,738,166 shares of the oil and gas exploration company’s stock worth $52,703,000 after purchasing an additional 2,777,313 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Chesapeake Energy by 21.9% in the 4th quarter. Bank of New York Mellon Corp now owns 11,945,420 shares of the oil and gas exploration company’s stock worth $25,085,000 after purchasing an additional 2,146,047 shares in the last quarter. Institutional investors own 58.81% of the company’s stock.
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Chesapeake Energy Company Profile (NYSE:CHK)
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.
See Also: Asset Allocation
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