Chesapeake Energy Co. (CHK) Forecasted to Earn FY2019 Earnings of $0.57 Per Share

Share on StockTwits

Chesapeake Energy Co. (NYSE:CHK) – Investment analysts at Capital One Financial dropped their FY2019 earnings per share estimates for Chesapeake Energy in a report issued on Tuesday, October 30th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas exploration company will post earnings of $0.57 per share for the year, down from their prior estimate of $0.60.

CHK has been the subject of several other research reports. Zacks Investment Research upgraded Chesapeake Energy from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Thursday, October 25th. Morgan Stanley reaffirmed a “hold” rating and set a $6.00 target price (up from $5.00) on shares of Chesapeake Energy in a report on Friday, October 12th. ValuEngine downgraded Chesapeake Energy from a “sell” rating to a “strong sell” rating in a report on Friday, September 21st. Bank of America raised Chesapeake Energy from an “underperform” rating to a “neutral” rating and upped their target price for the company from $4.00 to $6.00 in a report on Friday, July 27th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $5.00 target price on shares of Chesapeake Energy in a report on Friday, July 20th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $4.91.

NYSE:CHK opened at $3.65 on Thursday. Chesapeake Energy has a 1 year low of $2.53 and a 1 year high of $5.60. The firm has a market capitalization of $2.98 billion, a PE ratio of 4.45, a price-to-earnings-growth ratio of 0.44 and a beta of 1.86.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year.

A number of large investors have recently bought and sold shares of the stock. Perella Weinberg Partners Capital Management LP raised its position in Chesapeake Energy by 29.7% during the third quarter. Perella Weinberg Partners Capital Management LP now owns 168,693 shares of the oil and gas exploration company’s stock valued at $757,000 after buying an additional 38,677 shares during the period. Arizona State Retirement System raised its position in Chesapeake Energy by 2.3% during 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 buying an additional 14,707 shares during the period. North Star Asset Management Inc. raised its position in Chesapeake Energy by 1.5% during 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 buying an additional 14,365 shares during the period. Russell Investments Group Ltd. raised its position in Chesapeake Energy by 3,143.7% during the third quarter. Russell Investments Group Ltd. now owns 132,341 shares of the oil and gas exploration company’s stock valued at $594,000 after buying an additional 128,261 shares during the period. Finally, Wright Investors Service Inc. acquired a new position in Chesapeake Energy during the third quarter valued at $223,000. 57.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

Recommended Story: How analysts view the yield curve

Earnings History and Estimates for Chesapeake Energy (NYSE:CHK)

Receive News & Ratings for Chesapeake Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply