Chesapeake Energy (NYSE:CHK) Downgraded to “Sell” at Tudor Pickering

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Tudor Pickering downgraded shares of Chesapeake Energy (NYSE:CHK) from a hold rating to a sell rating in a report published on Wednesday morning, Briefing.com Automated Import reports.

CHK has been the subject of a number of other reports. ValuEngine upgraded Chesapeake Energy from a sell rating to a hold rating in a research report on Monday, November 4th. Morgan Stanley dropped their price target on Chesapeake Energy from $2.50 to $2.25 and set an overweight rating for the company in a research report on Monday, October 14th. Zacks Investment Research upgraded Chesapeake Energy from a sell rating to a hold rating and set a $2.50 price target for the company in a research report on Tuesday, September 17th. Raymond James lowered Chesapeake Energy from an outperform rating to a market perform rating in a research report on Thursday, August 8th. Finally, MKM Partners dropped coverage on Chesapeake Energy in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $2.88.

Shares of CHK stock traded down $0.01 during trading hours on Wednesday, reaching $0.90. The company had a trading volume of 66,861,910 shares, compared to its average volume of 52,292,363. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.62 and a current ratio of 0.60. The stock has a fifty day moving average of $1.37 and a 200-day moving average of $1.79. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 1.00 and a beta of 2.45. Chesapeake Energy has a 12-month low of $0.79 and a 12-month high of $3.78.

Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas exploration company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Chesapeake Energy had a net margin of 5.46% and a return on equity of 9.01%. Chesapeake Energy’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. On average, analysts forecast that Chesapeake Energy will post -0.29 EPS for the current year.

In other Chesapeake Energy news, CEO Robert D. Lawler acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were purchased at an average cost of $0.91 per share, for a total transaction of $45,500.00. Following the completion of the acquisition, the chief executive officer now owns 5,133,298 shares of the company’s stock, valued at approximately $4,671,301.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Brad Martin acquired 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average price of $0.91 per share, for a total transaction of $227,500.00. Corporate insiders own 1.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHK. Silverleafe Capital Partners LLC lifted its holdings in Chesapeake Energy by 7.6% in the second quarter. Silverleafe Capital Partners LLC now owns 911,542 shares of the oil and gas exploration company’s stock valued at $1,778,000 after acquiring an additional 64,621 shares during the last quarter. WINTON GROUP Ltd lifted its stake in Chesapeake Energy by 108.2% during the second quarter. WINTON GROUP Ltd now owns 24,600 shares of the oil and gas exploration company’s stock worth $48,000 after purchasing an additional 12,783 shares in the last quarter. Cumberland Advisors Inc. lifted its stake in Chesapeake Energy by 3.2% during the second quarter. Cumberland Advisors Inc. now owns 705,500 shares of the oil and gas exploration company’s stock worth $1,376,000 after purchasing an additional 22,000 shares in the last quarter. Rothschild Investment Corp IL acquired a new position in Chesapeake Energy during the second quarter worth $53,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in Chesapeake Energy by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 421,806 shares of the oil and gas exploration company’s stock worth $823,000 after purchasing an additional 5,975 shares in the last quarter. Hedge funds and other institutional investors own 68.67% of the company’s stock.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

See Also: Trading on Margin

Analyst Recommendations for Chesapeake Energy (NYSE:CHK)

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