Chesapeake Energy (NYSE:CHK) PT Lowered to $2.50

Chesapeake Energy (NYSE:CHK) had its price target cut by Morgan Stanley from $2.75 to $2.50 in a research note published on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the oil and gas exploration company’s stock.

Several other research analysts also recently weighed in on CHK. ValuEngine upgraded shares of Chesapeake Energy from a strong sell rating to a sell rating in a research note on Wednesday. SunTrust Banks set a $2.00 target price on shares of Chesapeake Energy and gave the company a hold rating in a research note on Wednesday, August 7th. Zacks Investment Research upgraded shares of Chesapeake Energy from a sell rating to a hold rating and set a $2.50 target price for the company in a research note on Tuesday, September 17th. Raymond James downgraded shares of Chesapeake Energy from an outperform rating to a market perform rating in a research note on Thursday, August 8th. Finally, UBS Group set a $2.00 target price on shares of Chesapeake Energy and gave the company a sell rating in a research note on Thursday, June 20th. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Chesapeake Energy has a consensus rating of Hold and a consensus price target of $3.21.

CHK remained flat at $$1.36 during trading on Friday. 42,947,861 shares of the company’s stock traded hands, compared to its average volume of 49,499,328. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.79. Chesapeake Energy has a 12 month low of $1.26 and a 12 month high of $4.98. The stock’s 50-day moving average is $1.53 and its 200 day moving average is $2.11. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 1.51 and a beta of 2.45.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Chesapeake Energy had a return on equity of 90.53% and a net margin of 6.70%. Chesapeake Energy’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Sell-side analysts forecast that Chesapeake Energy will post -0.26 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CHK. Geode Capital Management LLC raised its holdings in Chesapeake Energy by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 9,217,962 shares of the oil and gas exploration company’s stock valued at $19,357,000 after acquiring an additional 458,983 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Chesapeake Energy by 21.5% during the first quarter. Great West Life Assurance Co. Can now owns 640,849 shares of the oil and gas exploration company’s stock worth $1,985,000 after purchasing an additional 113,433 shares during the period. Piedmont Investment Advisors Inc. raised its holdings in shares of Chesapeake Energy by 56.3% during the first quarter. Piedmont Investment Advisors Inc. now owns 38,053 shares of the oil and gas exploration company’s stock worth $118,000 after purchasing an additional 13,709 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of Chesapeake Energy by 11.7% during the first quarter. Parametric Portfolio Associates LLC now owns 6,185,063 shares of the oil and gas exploration company’s stock worth $19,174,000 after purchasing an additional 648,848 shares during the period. Finally, California State Teachers Retirement System raised its holdings in shares of Chesapeake Energy by 13.8% during the first quarter. California State Teachers Retirement System now owns 1,651,724 shares of the oil and gas exploration company’s stock worth $5,120,000 after purchasing an additional 200,295 shares during the period. 68.78% of the stock is currently owned by hedge funds and other institutional investors.

About Chesapeake Energy

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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

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