Chesapeake Energy Co. (NYSE:CHK) – Equities research analysts at SunTrust Banks raised their FY2019 EPS estimates for Chesapeake Energy in a report issued on Monday, April 29th. SunTrust Banks analyst N. Dingmann now expects that the oil and gas exploration company will earn $0.59 per share for the year, up from their prior forecast of $0.38. SunTrust Banks also issued estimates for Chesapeake Energy’s FY2020 earnings at $0.63 EPS.
CHK has been the subject of a number of other reports. Zacks Investment Research downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. UBS Group set a $2.00 price objective on Chesapeake Energy and gave the company a “sell” rating in a research report on Monday, January 14th. Raymond James lifted their price target on Chesapeake Energy from $3.50 to $4.00 and gave the stock an “outperform” rating in a report on Friday, January 11th. Imperial Capital dropped their price objective on Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating for the company in a report on Thursday, January 10th. Finally, MKM Partners set a $3.00 price objective on Chesapeake Energy and gave the company a “hold” rating in a report on Tuesday, March 5th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $4.01.
Shares of Chesapeake Energy stock opened at $2.79 on Thursday. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 3.11, a price-to-earnings-growth ratio of 0.77 and a beta of 2.39. Chesapeake Energy has a 1 year low of $1.71 and a 1 year high of $5.60.
Chesapeake Energy (NYSE:CHK) last released its earnings results on Wednesday, February 27th. The oil and gas exploration company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Chesapeake Energy had a negative return on equity of 58.05% and a net margin of 8.31%. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 21.8% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LDR Capital Management LLC purchased a new position in Chesapeake Energy during the first quarter worth about $232,000. Financial Advocates Investment Management raised its position in Chesapeake Energy by 158.3% in the 4th quarter. Financial Advocates Investment Management now owns 6,085 shares of the oil and gas exploration company’s stock valued at $42,000 after purchasing an additional 3,729 shares during the last quarter. FTB Advisors Inc. raised its position in Chesapeake Energy by 193.4% during the 1st quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 5,802 shares during the last quarter. Sigma Planning Corp purchased a new position in Chesapeake Energy during the 4th quarter worth $25,000. Finally, Garrison Point Advisors LLC acquired a new position in shares of Chesapeake Energy during the 4th quarter worth $25,000. Hedge funds and other institutional investors own 58.81% of the company’s stock.
In related news, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3.29, for a total transaction of $19,456,191.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% 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.