Chesapeake Energy (NASDAQ:CHK) PT Raised to $112.00

Chesapeake Energy (NASDAQ:CHK) had its target price hoisted by Truist Financial from $110.00 to $112.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 25.34% from the company’s current price.

CHK has been the subject of a number of other reports. Wells Fargo & Company upped their price target on Chesapeake Energy from $85.00 to $89.00 and gave the company an “equal weight” rating in a research report on Friday, September 1st. JPMorgan Chase & Co. lowered Chesapeake Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $97.00 to $96.00 in a research report on Wednesday, August 16th. StockNews.com lowered Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Friday. UBS Group upped their price target on Chesapeake Energy from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, Bank of America increased their price objective on Chesapeake Energy from $144.00 to $147.00 in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.82.

Chesapeake Energy Stock Performance

NASDAQ CHK opened at $89.36 on Friday. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 2.43 and a beta of 0.68. Chesapeake Energy has a twelve month low of $69.68 and a twelve month high of $106.25. The company has a current ratio of 1.56, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $86.79 and a 200 day moving average of $83.56.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Tuesday, October 31st. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.52. Chesapeake Energy had a return on equity of 11.33% and a net margin of 49.82%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the firm earned $5.06 earnings per share. The business’s revenue was down 52.2% compared to the same quarter last year. Sell-side analysts anticipate that Chesapeake Energy will post 4.38 EPS for the current fiscal year.

Institutional Trading of Chesapeake Energy

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Chesapeake Energy by 15.7% in the first quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock valued at $974,127,000 after acquiring an additional 1,517,281 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Chesapeake Energy by 3.5% in the first quarter. Wellington Management Group LLP now owns 4,936,328 shares of the company’s stock valued at $375,358,000 after acquiring an additional 166,911 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Chesapeake Energy by 15.2% in the third quarter. Bank of New York Mellon Corp now owns 3,235,870 shares of the company’s stock valued at $279,029,000 after acquiring an additional 427,181 shares in the last quarter. Kimmeridge Energy Management Company LLC raised its stake in shares of Chesapeake Energy by 16.2% in the third quarter. Kimmeridge Energy Management Company LLC now owns 3,153,879 shares of the company’s stock valued at $271,959,000 after acquiring an additional 439,186 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Chesapeake Energy by 0.3% in the first quarter. Prudential Financial Inc. now owns 2,918,883 shares of the company’s stock valued at $221,952,000 after buying an additional 9,586 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

About Chesapeake Energy

Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties to produce 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.