Chesapeake Energy Corporation (NYSE:CHK) Lowered to “Underperform” at Jefferies Group LLC

Jefferies Group LLC downgraded shares of Chesapeake Energy Corporation (NYSE:CHK) from a hold rating to an underperform rating in a research report report published on Monday, October 9th, Marketbeat Ratings reports. The brokerage currently has $2.00 price target on the oil and gas exploration company’s stock, down from their previous price target of $4.00. Jefferies Group also issued estimates for Chesapeake Energy Corporation’s Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at $0.17 EPS, FY2017 earnings at $0.62 EPS, Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.84 EPS, Q1 2019 earnings at $0.33 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.29 EPS and FY2019 earnings at $1.24 EPS.

Several other research firms also recently issued reports on CHK. Vetr raised shares of Chesapeake Energy Corporation from a sell rating to a hold rating and set a $4.80 price target for the company in a research note on Wednesday, July 5th. Stifel Nicolaus reissued a buy rating on shares of Chesapeake Energy Corporation in a research note on Friday, July 21st. Wolfe Research assumed coverage on shares of Chesapeake Energy Corporation in a research note on Thursday, June 15th. They set a market perform rating and a $5.50 target price for the company. Scotiabank set a $5.00 target price on shares of Chesapeake Energy Corporation and gave the stock a hold rating in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Chesapeake Energy Corporation from a sell rating to a strong sell rating in a research note on Monday, August 14th. 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 company’s stock. Chesapeake Energy Corporation currently has an average rating of Hold and an average price target of $5.84.

Shares of Chesapeake Energy Corporation (CHK) opened at 3.80 on Monday. Chesapeake Energy Corporation has a 12 month low of $3.55 and a 12 month high of $8.20. The stock has a 50 day moving average price of $4.02 and a 200 day moving average price of $4.73. The stock’s market cap is $3.39 billion.

Chesapeake Energy Corporation (NYSE:CHK) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $1.07 billion. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) earnings per share. Equities analysts anticipate that Chesapeake Energy Corporation will post $0.72 EPS for the current fiscal year.

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In related news, Director R Brad Martin acquired 25,000 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $4.11 per share, with a total value of $102,750.00. Following the completion of the transaction, the director now owns 547,358 shares in the company, valued at approximately $2,249,641.38. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Edge Wealth Management LLC raised its position in shares of Chesapeake Energy Corporation by 4,000.0% in the third quarter. Edge Wealth Management LLC now owns 82,000 shares of the oil and gas exploration company’s stock valued at $354,000 after purchasing an additional 80,000 shares during the period. State Treasurer State of Michigan raised its position in shares of Chesapeake Energy Corporation by 8.9% in the third quarter. State Treasurer State of Michigan now owns 272,470 shares of the oil and gas exploration company’s stock valued at $1,172,000 after purchasing an additional 22,285 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Chesapeake Energy Corporation by 37.0% in the third quarter. Mutual of America Capital Management LLC now owns 128,743 shares of the oil and gas exploration company’s stock valued at $554,000 after purchasing an additional 34,753 shares during the period. Shell Asset Management Co. bought a new stake in shares of Chesapeake Energy Corporation in the third quarter valued at approximately $2,041,000. Finally, Toronto Dominion Bank raised its position in shares of Chesapeake Energy Corporation by 26.3% in the second quarter. Toronto Dominion Bank now owns 249,025 shares of the oil and gas exploration company’s stock valued at $1,238,000 after purchasing an additional 51,801 shares during the period. 64.56% of the stock is currently owned by institutional investors.

About Chesapeake Energy Corporation

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.

Analyst Recommendations for Chesapeake Energy Corporation (NYSE:CHK)

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