Chesapeake Energy Co. (NYSE:CHK) – Equities researchers at Jefferies Financial Group raised their Q1 2019 EPS estimates for shares of Chesapeake Energy in a note issued to investors on Wednesday, January 30th. Jefferies Financial Group analyst M. Lear now forecasts that the oil and gas exploration company will earn $0.24 per share for the quarter, up from their prior forecast of $0.23.
Several other brokerages also recently weighed in on CHK. Imperial Capital lowered their target price on Chesapeake Energy from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. MKM Partners started coverage on Chesapeake Energy in a research note on Wednesday, December 5th. They issued a “neutral” rating and a $3.00 target price on the stock. Morgan Stanley reiterated a “hold” rating and issued a $6.00 target price (up from $5.00) on shares of Chesapeake Energy in a research note on Friday, October 12th. Zacks Investment Research downgraded Chesapeake Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. Finally, Bank of America downgraded Chesapeake Energy from a “neutral” rating to an “underperform” rating in a research note on Friday, January 4th. Nine analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.12.
Shares of CHK stock opened at $2.79 on Monday. Chesapeake Energy has a twelve month low of $1.71 and a twelve month high of $5.60. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 3.40, a P/E/G ratio of 0.68 and a beta of 2.37.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Sigma Planning Corp acquired a new position in Chesapeake Energy during the fourth quarter worth $25,000. Wealth Architects LLC acquired a new position in Chesapeake Energy during the fourth quarter worth $28,000. Nachman Norwood & Parrott Inc acquired a new position in Chesapeake Energy during the fourth quarter worth $42,000. Smart Money Group LLC acquired a new position in Chesapeake Energy during the third quarter worth $129,000. Finally, Lourd Capital LLC acquired a new position in Chesapeake Energy during the third quarter worth $162,000. 58.80% of the stock is owned by institutional investors and hedge funds.
In other Chesapeake Energy news, Director Thomas L. Ryan purchased 200,000 shares of Chesapeake Energy stock in a transaction dated Monday, December 24th. The stock was acquired at an average cost of $1.81 per share, with a total value of $362,000.00. Following the acquisition, the director now directly owns 563,519 shares of the company’s stock, valued at $1,019,969.39. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R Brad Martin purchased 50,000 shares of Chesapeake Energy stock in a transaction dated Tuesday, December 11th. The stock was acquired at an average cost of $2.65 per share, with a total value of $132,500.00. Following the completion of the acquisition, the director now directly owns 727,900 shares in the company, valued at $1,928,935. The disclosure for this purchase can be found here. Insiders bought a total of 3,805,000 shares of company stock valued at $7,788,650 over the last three months. Insiders own 1.70% of the company’s stock.
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.