Chesapeake Energy (CHK) Downgraded to Underperform at Wolfe Research

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Wolfe Research lowered shares of Chesapeake Energy (NYSE:CHK) from a peer perform rating to an underperform rating in a research report report published on Thursday morning, MarketBeat Ratings reports.

Several other equities research analysts have also weighed in on the company. Stephens restated a hold rating and issued a $6.00 target price on shares of Chesapeake Energy in a report on Friday, July 27th. Zacks Investment Research upgraded Chesapeake Energy from a hold rating to a buy rating and set a $5.25 target price for the company in a report on Friday, July 20th. Citigroup boosted their target price on Chesapeake Energy from $2.50 to $3.50 and gave the stock a sell rating in a report on Monday, July 30th. Bank of America upgraded Chesapeake Energy from an underperform rating to a neutral rating and boosted their target price for the stock from $4.00 to $6.00 in a report on Friday, July 27th. Finally, ValuEngine lowered Chesapeake Energy from a hold rating to a sell rating in a report on Wednesday, May 2nd. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $4.50.

CHK opened at $4.31 on Thursday. Chesapeake Energy has a twelve month low of $2.53 and a twelve month high of $5.60. The company has a debt-to-equity ratio of -5.17, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $4.25 billion, a P/E ratio of 5.26, a P/E/G ratio of 0.52 and a beta of 1.73.

Chesapeake Energy (NYSE:CHK) last posted its earnings results on Wednesday, August 1st. The oil and gas exploration company reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Chesapeake Energy had a negative return on equity of 46.15% and a net margin of 6.16%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company earned $0.18 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. equities analysts expect that Chesapeake Energy will post 0.81 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of CHK. NJ State Employees Deferred Compensation Plan bought a new position in Chesapeake Energy in the 1st quarter worth approximately $362,000. Montgomery Investment Management Inc. increased its position in shares of Chesapeake Energy by 35.9% during the first quarter. Montgomery Investment Management Inc. now owns 150,670 shares of the oil and gas exploration company’s stock valued at $455,000 after purchasing an additional 39,800 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in shares of Chesapeake Energy by 47.1% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,052,600 shares of the oil and gas exploration company’s stock valued at $3,179,000 after purchasing an additional 336,897 shares during the period. Alps Advisors Inc. bought a new stake in shares of Chesapeake Energy during the first quarter valued at approximately $582,000. Finally, Comerica Bank increased its position in shares of Chesapeake Energy by 160.1% during the first quarter. Comerica Bank now owns 758,928 shares of the oil and gas exploration company’s stock valued at $2,300,000 after purchasing an additional 467,148 shares during the period. 57.00% of the stock is currently owned by institutional investors.

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 Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.

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