Chesapeake Energy (NYSE:CHK) Stock Price Up 7.8%

Chesapeake Energy Co. (NYSE:CHK) shares rose 7.8% during trading on Friday . The stock traded as high as $1.41 and last traded at $1.39, approximately 67,610,290 shares were traded during mid-day trading. An increase of 36% from the average daily volume of 49,645,336 shares. The stock had previously closed at $1.29.

CHK has been the subject of several recent analyst reports. ValuEngine upgraded shares of Chesapeake Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Chesapeake Energy from a “sell” rating to a “hold” rating and set a $2.50 target price for the company in a report on Tuesday, September 17th. UBS Group set a $2.00 target price on shares of Chesapeake Energy and gave the stock a “sell” rating in a report on Thursday, June 20th. Morgan Stanley reduced their price target on shares of Chesapeake Energy from $2.75 to $2.50 and set an “overweight” rating for the company in a research report on Friday, October 4th. Finally, Raymond James lowered shares of Chesapeake Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 8th. Eight equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Chesapeake Energy currently has a consensus rating of “Hold” and a consensus price target of $3.07.

The business’s 50-day moving average price is $1.51 and its 200-day moving average price is $2.04. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.79. The firm has a market capitalization of $2.11 billion, a PE ratio of 1.54 and a beta of 2.45.

Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Chesapeake Energy had a return on equity of 90.53% and a net margin of 6.70%. Chesapeake Energy’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. On average, analysts anticipate that Chesapeake Energy Co. will post -0.25 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC lifted its position in shares of Chesapeake Energy by 6.6% in the second quarter. Aperio Group LLC now owns 306,079 shares of the oil and gas exploration company’s stock worth $596,000 after purchasing an additional 19,017 shares in the last quarter. Cetera Advisor Networks LLC raised its position in Chesapeake Energy by 23.2% during the second quarter. Cetera Advisor Networks LLC now owns 76,499 shares of the oil and gas exploration company’s stock valued at $151,000 after acquiring an additional 14,413 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Chesapeake Energy by 24.8% during the second quarter. Wedge Capital Management L L P NC now owns 218,682 shares of the oil and gas exploration company’s stock valued at $426,000 after acquiring an additional 43,406 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in Chesapeake Energy during the second quarter valued at approximately $82,000. Finally, Westwood Holdings Group Inc. raised its position in Chesapeake Energy by 1.7% during the second quarter. Westwood Holdings Group Inc. now owns 8,008,400 shares of the oil and gas exploration company’s stock valued at $15,616,000 after acquiring an additional 132,677 shares in the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.

About Chesapeake Energy (NYSE:CHK)

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.

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