The Barclays PLC Boosts Chesapeake Energy Corporation (CHK) Price Target to $3.00

The Barclays PLC Boosts Chesapeake Energy Corporation (CHK) Price Target to $3.00

Chesapeake Energy Corporation (NYSE:CHK) had its target price increased by Barclays PLC from $2.00 to $3.00 in a research report report published on Wednesday morning, Marketbeat reports. The brokerage currently has an underweight rating on the oil and gas exploration company’s stock.

Several other analysts have also weighed in on CHK. Wolfe Research started coverage on shares of Chesapeake Energy Corporation in a research note on Thursday, June 15th. They issued a market perform rating and a $5.50 price objective for the company. Macquarie lowered shares of Chesapeake Energy Corporation from a neutral rating to an underperform rating and lifted their price objective for the company from $3.93 to $4.00 in a research note on Wednesday, June 21st. Vetr lowered shares of Chesapeake Energy Corporation from a strong-buy rating to a hold rating and set a $4.67 price target for the company. in a research note on Wednesday, June 21st. BidaskClub upgraded shares of Chesapeake Energy Corporation from a strong sell rating to a sell rating in a research note on Thursday, June 22nd. Finally, BMO Capital Markets restated a hold rating and set a $3.00 price target on shares of Chesapeake Energy Corporation in a research note on Tuesday, June 27th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Chesapeake Energy Corporation has an average rating of Hold and an average price target of $6.01.

Shares of Chesapeake Energy Corporation (NYSE CHK) traded up 0.78% during midday trading on Wednesday, hitting $3.88. 15,964,755 shares of the stock traded hands. Chesapeake Energy Corporation has a 52 week low of $3.55 and a 52 week high of $8.20. The firm has a 50-day moving average price of $4.00 and a 200-day moving average price of $4.81. The stock’s market capitalization is $3.46 billion.

Chesapeake Energy Corporation (NYSE:CHK) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $1.07 billion. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. Chesapeake Energy Corporation’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) EPS. On average, equities analysts predict that Chesapeake Energy Corporation will post $0.73 earnings per share for the current fiscal year.

In related news, Director R Brad Martin acquired 25,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $4.11 per share, with a total value of $102,750.00. Following the completion of the purchase, the director now owns 547,358 shares in the company, valued at approximately $2,249,641.38. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Chesapeake Energy Corporation by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,669 shares of the oil and gas exploration company’s stock valued at $282,000 after purchasing an additional 164 shares during the period. Exencial Wealth Advisors LLC boosted its stake in shares of Chesapeake Energy Corporation by 0.7% during the second quarter. Exencial Wealth Advisors LLC now owns 32,430 shares of the oil and gas exploration company’s stock valued at $161,000 after purchasing an additional 226 shares during the period. Cigna Investments Inc. New boosted its stake in shares of Chesapeake Energy Corporation by 0.9% during the second quarter. Cigna Investments Inc. New now owns 30,765 shares of the oil and gas exploration company’s stock valued at $153,000 after purchasing an additional 281 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Chesapeake Energy Corporation by 0.6% during the second quarter. CIBC Asset Management Inc now owns 62,174 shares of the oil and gas exploration company’s stock valued at $309,000 after purchasing an additional 381 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Chesapeake Energy Corporation by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 47,300 shares of the oil and gas exploration company’s stock valued at $235,000 after purchasing an additional 500 shares during the period. 64.56% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Energy Corporation Company Profile

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.

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