Mizuho Trims Chesapeake Energy (NASDAQ:CHK) Target Price to $105.00

Chesapeake Energy (NASDAQ:CHK) had its price objective lowered by stock analysts at Mizuho from $111.00 to $105.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 43.58% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. KeyCorp assumed coverage on shares of Chesapeake Energy in a research report on Thursday, June 27th. They issued a “sector weight” rating for the company. Scotiabank cut their price objective on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a report on Tuesday, August 20th. StockNews.com raised shares of Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. Stephens boosted their price target on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Wolfe Research started coverage on Chesapeake Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $106.67.

Chesapeake Energy Stock Performance

CHK traded down $0.09 on Monday, reaching $73.13. The company had a trading volume of 135,951 shares, compared to its average volume of 1,886,382. The company’s fifty day moving average is $75.40 and its 200 day moving average is $82.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $9.58 billion, a P/E ratio of 9.87 and a beta of 0.46. Chesapeake Energy has a fifty-two week low of $69.12 and a fifty-two week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. Chesapeake Energy’s revenue for the quarter was down 73.3% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. As a group, analysts predict that Chesapeake Energy will post 1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chesapeake Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of CHK. Sanctuary Advisors LLC acquired a new position in shares of Chesapeake Energy during the second quarter worth $956,000. Clearbridge Investments LLC lifted its holdings in Chesapeake Energy by 3.3% during the 2nd quarter. Clearbridge Investments LLC now owns 474,459 shares of the company’s stock worth $38,996,000 after buying an additional 14,951 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Chesapeake Energy by 133.8% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 84,493 shares of the company’s stock valued at $6,945,000 after buying an additional 48,348 shares during the last quarter. Creative Planning increased its stake in shares of Chesapeake Energy by 4.6% in the second quarter. Creative Planning now owns 19,352 shares of the company’s stock valued at $1,591,000 after buying an additional 857 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of Chesapeake Energy by 72.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 141,413 shares of the company’s stock worth $11,623,000 after acquiring an additional 59,400 shares during the last quarter. Institutional investors 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.