Chesapeake Energy (CHK) Given a $3.00 Price Target by Credit Suisse Group Analysts

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Credit Suisse Group set a $3.00 price target on Chesapeake Energy (NYSE:CHK) in a research report sent to investors on Wednesday. The firm currently has a sell rating on the oil and gas exploration company’s stock.

Other analysts have also issued reports about the company. SunTrust Banks lowered Chesapeake Energy from a buy rating to a hold rating in a research note on Monday, September 24th. They noted that the move was a valuation call. Stephens restated a hold rating and issued a $6.00 target price on shares of Chesapeake Energy in a research note on Friday, July 27th. Wolfe Research lowered Chesapeake Energy from a peer perform rating to an underperform rating in a research note on Thursday, August 16th. Citigroup raised their target price on Chesapeake Energy from $2.50 to $3.50 and gave the company a sell rating in a research note on Monday, July 30th. Finally, Susquehanna Bancshares upgraded Chesapeake Energy from a neutral rating to a positive rating and set a $5.00 target price for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $4.91.

Shares of NYSE:CHK traded up $0.06 during midday trading on Wednesday, reaching $3.57. The company’s stock had a trading volume of 49,082,325 shares, compared to its average volume of 33,906,704. 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 $2.98 billion, a PE ratio of 4.35, a price-to-earnings-growth ratio of 0.44 and a beta of 1.86.

Chesapeake Energy (NYSE:CHK) last announced its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. Chesapeake Energy had a negative return on equity of 52.94% and a net margin of 6.91%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, analysts predict that Chesapeake Energy will post 0.82 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Greylin Investment Mangement Inc. boosted its holdings in Chesapeake Energy by 3.0% in the second quarter. Greylin Investment Mangement Inc. now owns 405,685 shares of the oil and gas exploration company’s stock valued at $2,126,000 after acquiring an additional 11,810 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in Chesapeake Energy in the second quarter valued at about $2,465,000. North Star Asset Management Inc. boosted its holdings in Chesapeake Energy by 1.5% in the third quarter. North Star Asset Management Inc. now owns 946,911 shares of the oil and gas exploration company’s stock valued at $4,252,000 after acquiring an additional 14,365 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Chesapeake Energy by 7.8% in the third quarter. Wedge Capital Management L L P NC now owns 199,970 shares of the oil and gas exploration company’s stock valued at $898,000 after acquiring an additional 14,468 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Chesapeake Energy by 2.3% in the third quarter. Arizona State Retirement System now owns 647,760 shares of the oil and gas exploration company’s stock valued at $2,908,000 after acquiring an additional 14,707 shares during the last quarter. Institutional investors and hedge funds own 57.29% 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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Analyst Recommendations for Chesapeake Energy (NYSE:CHK)

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