An issue of Chesapeake Energy Corporation (NYSE:CHK) debt fell 1% against its face value during trading on Friday. The debt issue has a 8% coupon and is set to mature on January 15, 2025. The debt is now trading at $99.00 and was trading at $101.00 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
Several brokerages have commented on CHK. ValuEngine raised shares of Chesapeake Energy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Mizuho reissued a “hold” rating and issued a $5.00 price target on shares of Chesapeake Energy Corporation in a research report on Friday, September 29th. Imperial Capital began coverage on shares of Chesapeake Energy Corporation in a research report on Tuesday, September 19th. They issued an “in-line” rating and a $5.00 price target for the company. Piper Jaffray Companies decreased their price target on shares of Chesapeake Energy Corporation from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, September 18th. Finally, Tudor Pickering cut shares of Chesapeake Energy Corporation from a “buy” rating to a “hold” rating and raised their price target for the company from $3.76 to $4.00 in a research report on Tuesday, September 5th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.17.
Chesapeake Energy Corporation (NYSE:CHK) opened at 4.20 on Friday. Chesapeake Energy Corporation has a 1-year low of $3.55 and a 1-year high of $8.20. The firm has a 50-day moving average of $3.99 and a 200-day moving average of $4.85. The firm’s market capitalization is $3.74 billion.
Chesapeake Energy Corporation (NYSE:CHK) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. Chesapeake Energy Corporation had a negative net margin of 9.52% and a negative return on equity of 16.10%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted ($0.14) EPS. The company’s revenue for the quarter was up 40.6% on a year-over-year basis. On average, analysts expect that Chesapeake Energy Corporation will post $0.73 earnings per share for the current year.
In other news, Director R Brad Martin acquired 25,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now directly owns 547,358 shares in the company, valued at $2,249,641.38. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CHK. Fox Run Management L.L.C. acquired a new stake in shares of Chesapeake Energy Corporation in the 2nd quarter worth about $115,000. Advisory Services Network LLC increased its holdings in shares of Chesapeake Energy Corporation by 42.6% in the 2nd quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock worth $116,000 after acquiring an additional 7,000 shares during the period. UBS Oconnor LLC acquired a new stake in shares of Chesapeake Energy Corporation in the 2nd quarter worth about $122,000. Gotham Asset Management LLC acquired a new stake in shares of Chesapeake Energy Corporation in the 2nd quarter worth about $126,000. Finally, HRT Financial LLC acquired a new stake in shares of Chesapeake Energy Corporation in the 2nd quarter worth about $131,000. 64.56% of the stock is currently owned by institutional investors and hedge funds.
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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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