Chesapeake Energy Co. (NYSE:CHK) shares were down 5.5% during mid-day trading on Wednesday . The stock traded as low as $1.32 and last traded at $1.37, approximately 33,083,421 shares traded hands during trading. A decline of 30% from the average daily volume of 47,233,953 shares. The stock had previously closed at $1.45.
Several equities analysts have recently issued reports on CHK shares. TheStreet downgraded shares of Chesapeake Energy from a “c” rating to a “d+” rating in a report on Wednesday, May 8th. UBS Group set a $2.00 price objective on shares of Chesapeake Energy and gave the stock a “sell” rating in a report on Thursday, June 20th. Morgan Stanley raised shares of Chesapeake Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $1.94 to $2.75 in a report on Friday, June 28th. Zacks Investment Research downgraded shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 16th. Finally, SunTrust Banks set a $2.00 price objective on shares of Chesapeake Energy and gave the stock a “hold” rating in a report on Wednesday, August 7th. Ten equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Chesapeake Energy currently has a consensus rating of “Hold” and an average target price of $3.38.
The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 1.52 and a beta of 2.43. The stock has a fifty day moving average price of $1.70. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.62 and a current ratio of 0.62.
Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). Chesapeake Energy had a net margin of 6.70% and a return on equity of 90.53%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.15 earnings per share. Chesapeake Energy’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts predict that Chesapeake Energy Co. will post -0.24 earnings per share for the current year.
In other Chesapeake Energy news, EVP James R. Webb purchased 50,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $1.96 per share, with a total value of $98,000.00. Following the acquisition, the executive vice president now owns 1,439,322 shares of the company’s stock, valued at $2,821,071.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Carlyle Group L.P. acquired a new stake in Chesapeake Energy during the 1st quarter worth about $535,982,000. Dimensional Fund Advisors LP raised its holdings in Chesapeake Energy by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,431,670 shares of the oil and gas exploration company’s stock worth $26,109,000 after buying an additional 693,504 shares during the period. Norges Bank acquired a new stake in Chesapeake Energy during the 4th quarter worth about $21,828,000. Geode Capital Management LLC raised its holdings in Chesapeake Energy by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 9,217,962 shares of the oil and gas exploration company’s stock worth $19,357,000 after buying an additional 458,983 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in Chesapeake Energy by 1.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 8,008,400 shares of the oil and gas exploration company’s stock worth $15,616,000 after buying an additional 132,677 shares during the period. 70.02% of the stock is owned by institutional investors.
About Chesapeake Energy (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 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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