Chesapeake Energy (NASDAQ:CHK) Stock Rating Lowered by TheStreet

Chesapeake Energy (NASDAQ:CHKGet Rating) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d” rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.

Several other brokerages have also recently commented on CHK. JPMorgan Chase & Co. initiated coverage on Chesapeake Energy in a research report on Friday, February 11th. They issued an “overweight” rating and a $85.00 target price for the company. Zacks Investment Research raised shares of Chesapeake Energy from a “hold” rating to a “strong-buy” rating and set a $94.00 price objective for the company in a report on Monday, May 2nd. Wolfe Research upped their target price on shares of Chesapeake Energy from $104.00 to $111.00 and gave the company an “outperform” rating in a research note on Tuesday, April 5th. MKM Partners increased their price target on shares of Chesapeake Energy from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, January 26th. Finally, Wells Fargo & Company lifted their price objective on Chesapeake Energy from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Monday, March 14th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $89.00.

NASDAQ CHK opened at $93.15 on Thursday. The company’s fifty day moving average is $86.13 and its two-hundred day moving average is $72.67. Chesapeake Energy has a 52-week low of $47.16 and a 52-week high of $97.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of -29.29, a P/E/G ratio of 1.17 and a beta of 0.17.

Chesapeake Energy (NASDAQ:CHKGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.66. The firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $1.34 billion. Chesapeake Energy had a positive return on equity of 29.55% and a negative net margin of 2.03%. Chesapeake Energy’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chesapeake Energy will post 12.99 earnings per share for the current fiscal year.

In other news, major shareholder Holdings L.P. Blackstone III sold 186,085 shares of the firm’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $96.25, for a total value of $17,910,681.25. Following the completion of the sale, the insider now directly owns 4,156,830 shares in the company, valued at $400,094,887.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHK. Raymond James & Associates acquired a new stake in Chesapeake Energy in the third quarter worth about $257,000. Citigroup Inc. raised its stake in shares of Chesapeake Energy by 183.6% during the third quarter. Citigroup Inc. now owns 18,398 shares of the company’s stock worth $1,133,000 after buying an additional 11,911 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Chesapeake Energy by 80.8% in the fourth quarter. ProShare Advisors LLC now owns 22,908 shares of the company’s stock valued at $1,478,000 after buying an additional 10,241 shares during the period. Wolf Hill Capital Management LP bought a new position in Chesapeake Energy in the third quarter valued at approximately $28,653,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Chesapeake Energy during the 4th quarter worth $3,556,000.

Chesapeake Energy Company Profile (Get Rating)

Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the United States. 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; and the liquids-rich resource play in the Eagle Ford Shale in South Texas.

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Analyst Recommendations for Chesapeake Energy (NASDAQ:CHK)

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