Chesapeake Energy Co. (NYSE:CHK) – Imperial Capital increased their Q3 2019 earnings estimates for shares of Chesapeake Energy in a note issued to investors on Wednesday, September 11th, Zacks Investment Research reports. Imperial Capital analyst J. Wangler now anticipates that the oil and gas exploration company will post earnings per share of ($0.12) for the quarter, up from their previous estimate of ($0.13). Imperial Capital also issued estimates for Chesapeake Energy’s Q4 2019 earnings at ($0.07) EPS, FY2019 earnings at ($0.30) EPS and FY2020 earnings at ($0.10) EPS.
A number of other research analysts also recently weighed in on CHK. UBS Group set a $2.00 target price on Chesapeake Energy and gave the company a “sell” rating in a report on Thursday, June 20th. Raymond James downgraded Chesapeake Energy from an “outperform” rating to a “market perform” rating in a report on Thursday, August 8th. Morgan Stanley raised Chesapeake Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $1.94 to $2.75 in a research note on Friday, June 28th. SunTrust Banks set a $2.00 price objective on Chesapeake Energy and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research raised Chesapeake Energy from a “sell” rating to a “hold” rating and set a $2.50 price objective on the stock in a research note on Tuesday, September 17th. Seven 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’s stock. Chesapeake Energy currently has a consensus rating of “Hold” and a consensus price target of $3.23.
CHK stock opened at $1.58 on Friday. Chesapeake Energy has a fifty-two week low of $1.26 and a fifty-two week high of $4.98. The business’s 50-day moving average is $1.54 and its two-hundred day moving average is $2.22. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 3.73 and a beta of 2.47.
Chesapeake Energy (NYSE:CHK) last posted its earnings results on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Chesapeake Energy had a net margin of 6.70% and a return on equity of 90.53%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its stake in shares of Chesapeake Energy by 6.8% in the second quarter. Treasurer of the State of North Carolina now owns 536,437 shares of the oil and gas exploration company’s stock worth $1,046,000 after buying an additional 34,010 shares during the period. Cresset Asset Management LLC purchased a new stake in shares of Chesapeake Energy during the second quarter worth about $30,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Chesapeake Energy by 16.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 190,460 shares of the oil and gas exploration company’s stock worth $371,000 after purchasing an additional 26,912 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Chesapeake Energy by 116.9% during the second quarter. Nuveen Asset Management LLC now owns 2,208,493 shares of the oil and gas exploration company’s stock worth $4,306,000 after purchasing an additional 1,190,265 shares in the last quarter. Finally, Greylin Investment Mangement Inc. grew its position in shares of Chesapeake Energy by 20.6% during the second quarter. Greylin Investment Mangement Inc. now owns 972,230 shares of the oil and gas exploration company’s stock worth $1,896,000 after purchasing an additional 166,290 shares in the last quarter. 68.78% of the stock is currently owned by hedge funds and other institutional investors.
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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.