Chesapeake Energy (NASDAQ:CHK) PT Lowered to $96.00

Chesapeake Energy (NASDAQ:CHK) had its target price cut by research analysts at Truist Financial from $108.00 to $96.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 17.85% from the stock’s current price.

A number of other research firms have also weighed in on CHK. Mizuho decreased their target price on shares of Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. KeyCorp started coverage on shares of Chesapeake Energy in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Scotiabank lowered their price objective on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 20th. Stephens lifted their price objective on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Roth Capital upgraded Chesapeake Energy to a “strong-buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chesapeake Energy presently has an average rating of “Moderate Buy” and a consensus target price of $99.92.

Chesapeake Energy Stock Performance

Shares of CHK opened at $81.46 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market cap of $10.68 billion, a PE ratio of 10.98 and a beta of 0.46. Chesapeake Energy has a 1 year low of $69.12 and a 1 year high of $93.58. The stock’s fifty day moving average price is $74.47 and its two-hundred day moving average price is $82.59.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $505.00 million during the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business’s revenue for the quarter was down 73.3% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. On average, equities research analysts forecast that Chesapeake Energy will post 1.43 EPS for the current year.

Hedge Funds Weigh In On Chesapeake Energy

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its stake in Chesapeake Energy by 705.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock worth $2,402,000 after buying an additional 25,600 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Chesapeake Energy in the 1st quarter worth approximately $1,006,000. Russell Investments Group Ltd. lifted its stake in shares of Chesapeake Energy by 66.4% in the 1st quarter. Russell Investments Group Ltd. now owns 119,470 shares of the company’s stock valued at $10,612,000 after purchasing an additional 47,658 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Chesapeake Energy during the first quarter valued at approximately $37,000. Finally, Wedge Capital Management L L P NC grew its stake in Chesapeake Energy by 16.2% in the second quarter. Wedge Capital Management L L P NC now owns 284,263 shares of the company’s stock worth $23,364,000 after purchasing an additional 39,734 shares during the period. 97.93% of the stock is owned by hedge funds and other institutional investors.

About Chesapeake Energy

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. 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.