Chesapeake Energy Co. (NYSE:CHK) – Analysts at Piper Jaffray Companies raised their FY2018 earnings estimates for Chesapeake Energy in a research report issued to clients and investors on Thursday, November 1st. Piper Jaffray Companies analyst K. Harrison now expects that the oil and gas exploration company will post earnings per share of $0.85 for the year, up from their prior forecast of $0.84. Piper Jaffray Companies has a “Hold” rating and a $5.00 price target on the stock. Piper Jaffray Companies also issued estimates for Chesapeake Energy’s Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.26 EPS and FY2020 earnings at $1.08 EPS.
Chesapeake Energy (NYSE:CHK) last issued its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business earned $0.12 earnings per share. Chesapeake Energy’s revenue for the quarter was up 22.5% on a year-over-year basis.
CHK has been the subject of a number of other research reports. Susquehanna Bancshares upgraded shares of Chesapeake Energy from a “neutral” rating to a “positive” rating and set a $5.00 target price for the company in a research report on Wednesday, October 31st. Credit Suisse Group set a $3.00 target price on shares of Chesapeake Energy and gave the stock a “sell” rating in a research report on Wednesday, October 31st. Citigroup upped their target price on shares of Chesapeake Energy from $2.50 to $3.50 and gave the stock a “sell” rating in a research report on Monday, July 30th. Raymond James upgraded shares of Chesapeake Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research upgraded shares of Chesapeake Energy from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Thursday, October 25th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Chesapeake Energy has an average rating of “Hold” and an average target price of $4.91.
Shares of NYSE:CHK opened at $3.79 on Monday. Chesapeake Energy has a fifty-two week low of $2.53 and a fifty-two week high of $5.60. The firm has a market cap of $3.19 billion, a P/E ratio of 4.62, a P/E/G ratio of 0.45 and a beta of 1.93.
In other Chesapeake Energy news, EVP James R. Webb acquired 50,000 shares of the stock in a transaction on Thursday, November 1st. The stock was acquired at an average price of $3.54 per share, for a total transaction of $177,000.00. Following the completion of the transaction, the executive vice president now directly owns 871,548 shares of the company’s stock, valued at $3,085,279.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. LMR Partners LLP bought a new stake in shares of Chesapeake Energy in the 2nd quarter worth about $123,000. American Century Companies Inc. bought a new stake in shares of Chesapeake Energy in the 2nd quarter worth about $128,000. Smart Money Group LLC bought a new stake in shares of Chesapeake Energy in the 3rd quarter worth about $129,000. WESPAC Advisors SoCal LLC bought a new stake in shares of Chesapeake Energy in the 2nd quarter worth about $131,000. Finally, Virtu Financial LLC bought a new stake in shares of Chesapeake Energy in the 2nd quarter worth about $135,000. Institutional investors and hedge funds own 57.20% of the company’s stock.
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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