Wall Street analysts forecast that Chesapeake Energy Co. (NYSE:CHK) will post $1.10 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Chesapeake Energy’s earnings, with estimates ranging from $1.06 billion to $1.12 billion. Chesapeake Energy reported sales of $1.24 billion during the same quarter last year, which would suggest a negative year over year growth rate of 11.3%. The firm is expected to issue its next earnings report on Wednesday, May 1st.
On average, analysts expect that Chesapeake Energy will report full year sales of $4.77 billion for the current year, with estimates ranging from $4.70 billion to $4.82 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.67 billion, with estimates ranging from $4.97 billion to $7.60 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Chesapeake Energy.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data 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 $0.17 by $0.04. Chesapeake Energy had a negative return on equity of 58.05% and a net margin of 8.31%. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business posted $0.30 EPS. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year.
Several equities research analysts have recently weighed in on CHK shares. Zacks Investment Research cut Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. UBS Group set a $2.00 price target on Chesapeake Energy and gave the company a “sell” rating in a research report on Monday, January 14th. Raymond James upped their price target on Chesapeake Energy from $3.50 to $4.00 and gave the company an “outperform” rating in a research report on Friday, January 11th. Imperial Capital decreased their price target on Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating on the stock in a research report on Thursday, January 10th. Finally, MKM Partners set a $3.00 price target on Chesapeake Energy and gave the company a “hold” rating in a research report on Tuesday, March 5th. Nine investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.01.
Shares of CHK traded down $0.10 during midday trading on Friday, hitting $3.07. 37,070,557 shares of the company traded hands, compared to its average volume of 46,585,309. Chesapeake Energy has a one year low of $1.71 and a one year high of $5.60. The stock has a market cap of $5.17 billion, a PE ratio of 3.41, a P/E/G ratio of 1.01 and a beta of 2.44.
In other news, major shareholder Ngp Energy Capital Management, sold 568,424 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $3.25, for a total transaction of $1,847,378.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Retirement Systems of Alabama boosted its stake in Chesapeake Energy by 14.8% in the first quarter. Retirement Systems of Alabama now owns 1,359,421 shares of the oil and gas exploration company’s stock worth $4,214,000 after buying an additional 174,759 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Chesapeake Energy by 15.3% in the first quarter. Louisiana State Employees Retirement System now owns 279,600 shares of the oil and gas exploration company’s stock worth $867,000 after buying an additional 37,100 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Chesapeake Energy in the first quarter worth approximately $114,000. Silverleafe Capital Partners LLC boosted its stake in Chesapeake Energy by 0.8% in the first quarter. Silverleafe Capital Partners LLC now owns 846,921 shares of the oil and gas exploration company’s stock worth $2,625,000 after buying an additional 7,101 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Chesapeake Energy by 20.4% in the first quarter. State of Alaska Department of Revenue now owns 114,691 shares of the oil and gas exploration company’s stock worth $355,000 after buying an additional 19,447 shares in the last quarter. 58.81% of the stock is owned by 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 Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.
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