Shares of Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $105.83.
Several equities research analysts have recently commented on the stock. Benchmark started coverage on shares of Chesapeake Energy in a research report on Tuesday, August 2nd. They set a “buy” rating and a $137.00 price target for the company. Scotiabank initiated coverage on shares of Chesapeake Energy in a research note on Wednesday, August 3rd. They set a “sector perform” rating and a $111.00 price target on the stock. The Goldman Sachs Group upped their price objective on Chesapeake Energy from $106.00 to $117.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. TheStreet raised Chesapeake Energy from a “d” rating to a “c-” rating in a report on Wednesday, August 3rd. Finally, Wells Fargo & Company upped their price target on Chesapeake Energy from $102.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 11th.
Chesapeake Energy Price Performance
CHK opened at $98.53 on Friday. The company’s 50-day simple moving average is $97.41 and its two-hundred day simple moving average is $91.66. Chesapeake Energy has a 52-week low of $56.75 and a 52-week high of $105.93. The stock has a market capitalization of $11.91 billion, a P/E ratio of 10.30, a P/E/G ratio of 0.92 and a beta of 0.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 0.47.
Chesapeake Energy announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 22nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 20.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Chesapeake Energy Cuts Dividend
The business also recently announced a None dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 17th were paid a dividend of $2.32 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a yield of 10.5%. Chesapeake Energy’s payout ratio is 22.99%.
Insider Buying and Selling at Chesapeake Energy
In other news, Chairman Michael Wichterich purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was bought at an average cost of $85.65 per share, with a total value of $171,300.00. Following the completion of the purchase, the chairman now owns 25,318 shares in the company, valued at $2,168,486.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.
Institutional Investors Weigh In On Chesapeake Energy
A number of hedge funds have recently bought and sold shares of CHK. Private Ocean LLC bought a new position in shares of Chesapeake Energy during the 1st quarter valued at approximately $26,000. Larson Financial Group LLC purchased a new position in shares of Chesapeake Energy during the second quarter valued at approximately $28,000. Salem Investment Counselors Inc. bought a new stake in shares of Chesapeake Energy during the 1st quarter worth approximately $32,000. Covestor Ltd boosted its holdings in Chesapeake Energy by 292.0% during the 1st quarter. Covestor Ltd now owns 439 shares of the company’s stock valued at $38,000 after acquiring an additional 327 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Chesapeake Energy during the second quarter worth $36,000.
About Chesapeake Energy
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.
- Get a free copy of the StockNews.com research report on Chesapeake Energy (CHK)
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