The JPMorgan Chase & Co. Cuts Chesapeake Energy Co. (CHK) Price Target to $5.00

The JPMorgan Chase & Co. Cuts Chesapeake Energy Co. (CHK) Price Target to $5.00

Other research analysts have also issued research reports about the stock. FBR & Co set a $5.00 price objective on shares of Chesapeake Energy and gave the company a sell rating in a research report on Saturday, March 11th. Royal Bank of Canada reaffirmed a hold rating and set a $7.00 price objective on shares of Chesapeake Energy in a research report on Tuesday, April 25th. SunTrust Banks, Inc. reaffirmed a buy rating and set a $9.00 price objective on shares of Chesapeake Energy in a research report on Monday, May 1st. Barclays PLC reaffirmed a sell rating and set a $4.00 price objective (down previously from $5.00) on shares of Chesapeake Energy in a research report on Thursday, April 20th. Finally, Scotiabank reaffirmed a hold rating and set a $6.00 price objective on shares of Chesapeake Energy in a research report on Friday, May 5th. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chesapeake Energy has a consensus rating of Hold and an average target price of $7.25.

Chesapeake Energy Co. (NYSE:CHK) had its price objective reduced by JPMorgan Chase & Co. from $6.00 to $5.00 in a report issued on Wednesday morning. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas exploration company’s stock.

Chesapeake Energy (CHK) opened at 4.96 on Wednesday. The firm’s market capitalization is $4.42 billion. The company has a 50-day moving average price of $5.45 and a 200-day moving average price of $6.14. Chesapeake Energy has a 1-year low of $3.93 and a 1-year high of $8.20.

In related news, Director R Brad Martin acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $5.26 per share, for a total transaction of $105,200.00. Following the completion of the acquisition, the director now directly owns 501,958 shares in the company, valued at approximately $2,640,299.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas L. Ryan acquired 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average price of $5.00 per share, for a total transaction of $375,000.00. Following the completion of the acquisition, the director now owns 440,355 shares of the company’s stock, valued at $2,201,775. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 595,000 shares of company stock worth $3,100,200. 1.10% of the stock is currently owned by company insiders. Several large investors have recently modified their holdings of the company. Icon Advisers Inc. Co. raised its stake in shares of Chesapeake Energy by 28.5% in the third quarter. Icon Advisers Inc. Co. now owns 1,302,850 shares of the oil and gas exploration company’s stock worth $8,169,000 after buying an additional 289,000 shares during the last quarter. Segantii Capital Management Ltd bought a new stake in shares of Chesapeake Energy during the third quarter worth approximately $3,060,000. Suntrust Banks Inc. raised its stake in shares of Chesapeake Energy by 161.8% in the third quarter. Suntrust Banks Inc. now owns 38,787 shares of the oil and gas exploration company’s stock worth $242,000 after buying an additional 23,970 shares during the last quarter. Traynor Capital Management Inc. bought a new stake in shares of Chesapeake Energy during the third quarter worth approximately $184,000. Finally, Omega Advisors Inc. bought a new stake in shares of Chesapeake Energy during the third quarter worth approximately $1,716,000. Institutional investors and hedge funds own 66.74% of the company’s stock.

About Chesapeake Energy Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CHK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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