Chesapeake Energy Co. (NYSE:CHK) EVP James R. Webb bought 50,000 shares of Chesapeake Energy stock in a transaction on Thursday, November 1st. The shares were acquired at an average cost of $3.54 per share, with a total value of $177,000.00. Following the completion of the acquisition, the executive vice president now owns 871,548 shares of the company’s stock, valued at approximately $3,085,279.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE CHK opened at $3.79 on Tuesday. The firm has a market capitalization of $3.19 billion, a PE ratio of 4.62, a PEG ratio of 0.45 and a beta of 1.93. Chesapeake Energy Co. has a 1 year low of $2.53 and a 1 year high of $5.60.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 earnings per share. As a group, research analysts anticipate that Chesapeake Energy Co. will post 0.85 EPS for the current year.
A number of brokerages have commented on CHK. Susquehanna Bancshares raised shares of Chesapeake Energy from a “neutral” rating to a “positive” rating and set a $5.00 target price for the company in a report on Wednesday, October 31st. Credit Suisse Group set a $3.00 target price on shares of Chesapeake Energy and gave the company a “sell” rating in a report on Wednesday, October 31st. Citigroup upped their target price on shares of Chesapeake Energy from $2.50 to $3.50 and gave the company a “sell” rating in a report on Monday, July 30th. Raymond James raised shares of Chesapeake Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 1st. Finally, Zacks Investment Research raised shares of Chesapeake Energy from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a report on Thursday, October 25th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $4.91.
Several hedge funds and other institutional investors have recently made changes to their positions in CHK. LMR Partners LLP purchased a new stake in shares of Chesapeake Energy in the second quarter worth $123,000. American Century Companies Inc. purchased a new position in Chesapeake Energy during the second quarter valued at $128,000. Smart Money Group LLC purchased a new position in Chesapeake Energy during the third quarter valued at $129,000. WESPAC Advisors SoCal LLC purchased a new position in Chesapeake Energy during the second quarter valued at $131,000. Finally, Virtu Financial LLC purchased a new position in Chesapeake Energy during the second quarter valued at $135,000. 57.20% of the stock is owned by hedge funds and other institutional investors.
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About Chesapeake Energy
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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