Chesapeake Energy Co. (NYSE:CHK) Expected to Announce Earnings of -$0.03 Per Share

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Equities analysts forecast that Chesapeake Energy Co. (NYSE:CHK) will post ($0.03) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Chesapeake Energy’s earnings, with estimates ranging from ($0.07) to $0.07. Chesapeake Energy posted earnings of $0.15 per share during the same quarter last year, which suggests a negative year over year growth rate of 120%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 7th.

On average, analysts expect that Chesapeake Energy will report full year earnings of ($0.09) per share for the current fiscal year, with EPS estimates ranging from ($0.28) to $0.20. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.10 per share, with EPS estimates ranging from ($0.24) to $0.94. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Chesapeake Energy.

Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings data on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Chesapeake Energy had a negative return on equity of 138.70% and a net margin of 5.39%. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.34 earnings per share. The business’s revenue was down 25.3% on a year-over-year basis.

CHK has been the topic of several research reports. Morgan Stanley set a $103.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Friday, June 28th. Guggenheim initiated coverage on shares of Patterson Companies in a research report on Wednesday, April 17th. They issued a “neutral” rating and a $23.00 price objective for the company. TheStreet raised shares of WillScot from a “d-” rating to a “c-” rating in a research report on Wednesday, May 8th. UBS Group upgraded shares of to a “neutral” rating and boosted their price target for the company from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a report on Thursday, June 20th. Finally, Goldman Sachs Group lowered shares of Encana to a “buy” rating in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $3.80.

In related news, EVP James R. Webb acquired 50,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $1.96 per share, with a total value of $98,000.00. Following the transaction, the executive vice president now directly owns 1,439,322 shares in the company, valued at $2,821,071.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LDR Capital Management LLC purchased a new stake in shares of Chesapeake Energy in the 1st quarter valued at $232,000. Financial Advocates Investment Management lifted its stake in Chesapeake Energy by 158.3% during the fourth quarter. Financial Advocates Investment Management now owns 6,085 shares of the oil and gas exploration company’s stock worth $42,000 after purchasing an additional 3,729 shares during the last quarter. FTB Advisors Inc. lifted its stake in Chesapeake Energy by 193.4% during the first quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 5,802 shares during the last quarter. Cedar Brook Financial Partners LLC acquired a new stake in Chesapeake Energy in the first quarter worth $31,000. Finally, IFG Advisory LLC acquired a new stake in Chesapeake Energy in the first quarter worth $34,000. Hedge funds and other institutional investors own 70.06% of the company’s stock.

Chesapeake Energy stock traded down $0.06 during midday trading on Wednesday, reaching $1.87. The stock had a trading volume of 1,671,397 shares, compared to its average volume of 47,934,392. The company has a market cap of $3.05 billion, a P/E ratio of 2.07 and a beta of 2.44. The company has a debt-to-equity ratio of 3.72, a current ratio of 0.47 and a quick ratio of 0.47. Chesapeake Energy has a 12 month low of $1.71 and a 12 month high of $5.26. The business has a fifty day moving average price of $1.90.

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.

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

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