Chesapeake Energy Co. (CHK) Target Price Trimmed to $5.00

Chesapeake Energy Co. (CHK) Target Price Trimmed to $5.00

Chesapeake Energy Co. (NYSE:CHK) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $6.00 to $5.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.’s price target suggests a potential downside of 1.96% from the company’s previous close.

CHK has been the topic of several other reports. BMO Capital Markets restated a “hold” rating and set a $6.00 price target on shares of Chesapeake Energy in a report on Monday, May 15th. Barclays PLC restated a “sell” rating and set a $4.00 price target (down from $5.00) on shares of Chesapeake Energy in a report on Thursday, April 20th. Scotiabank set a $6.00 price target on shares of Chesapeake Energy and gave the stock a “hold” rating in a report on Monday, March 27th. Macquarie restated a “neutral” rating on shares of Chesapeake Energy in a report on Monday, May 8th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $9.00 price target on shares of Chesapeake Energy in a report on Monday, May 1st. Three research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $7.25.

Shares of Chesapeake Energy (NYSE CHK) opened at 5.10 on Wednesday. Chesapeake Energy has a 12-month low of $3.93 and a 12-month high of $8.20. The firm’s market capitalization is $4.54 billion. The firm’s 50-day moving average price is $5.48 and its 200-day moving average price is $6.14.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings results on Thursday, May 4th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the firm posted ($0.10) earnings per share. Equities analysts predict that Chesapeake Energy will post $0.86 earnings per share for the current fiscal year.

In related news, Director R Brad Martin purchased 20,000 shares of the business’s stock in a transaction on Friday, May 26th. The stock was acquired at an average price of $5.26 per share, with a total value of $105,200.00. Following the purchase, the director now directly owns 501,958 shares in the company, valued at $2,640,299.08. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas L. Ryan purchased 75,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was bought at an average cost of $5.00 per share, with a total value of $375,000.00. Following the purchase, the director now owns 440,355 shares in the company, valued at $2,201,775. The disclosure for this purchase can be found here. In the last three months, insiders acquired 595,000 shares of company stock valued at $3,100,200. Corporate insiders own 1.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Gerber Kawasaki Wealth & Investment Management boosted its position in Chesapeake Energy by 105.3% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 118,410 shares of the oil and gas exploration company’s stock worth $831,000 after buying an additional 60,720 shares in the last quarter. Cadence Capital Management LLC bought a new position in Chesapeake Energy during the fourth quarter worth approximately $444,000. Russell Investments Group Ltd. bought a new position in Chesapeake Energy during the fourth quarter worth approximately $2,302,000. Garde Capital Inc. bought a new position in Chesapeake Energy during the third quarter worth approximately $359,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Chesapeake Energy by 532.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,276,721 shares of the oil and gas exploration company’s stock worth $8,005,000 after buying an additional 1,074,775 shares in the last quarter. 66.74% of the stock is owned by institutional investors and hedge funds.

Chesapeake Energy 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.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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