Chesapeake Energy (NYSE:CHK) Shares Gap Up to $1.49

Share on StockTwits

Chesapeake Energy Co. (NYSE:CHK)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $1.46, but opened at $1.49. Chesapeake Energy shares last traded at $1.36, with a volume of 40,484,304 shares trading hands.

A number of research firms have recently weighed in on CHK. Raymond James lowered Chesapeake Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Zacks Investment Research cut Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 16th. Morgan Stanley raised Chesapeake Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $1.94 to $2.75 in a report on Friday, June 28th. Argus cut Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, SunTrust Banks set a $2.00 price target on Chesapeake Energy and gave the stock a “hold” rating in a report on Wednesday, August 7th. Nine investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $3.38.

The firm has a market cap of $2.44 billion, a PE ratio of 1.54 and a beta of 2.43. The firm has a 50-day moving average price of $1.60 and a two-hundred day moving average price of $2.33. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.79.

Chesapeake Energy (NYSE:CHK) last released its earnings results on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $0.15 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. Research analysts forecast that Chesapeake Energy Co. will post -0.26 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CHK. Carlyle Group L.P. bought a new stake in Chesapeake Energy in the first quarter valued at approximately $535,982,000. Dimensional Fund Advisors LP boosted its holdings in shares of Chesapeake Energy by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,431,670 shares of the oil and gas exploration company’s stock worth $26,109,000 after buying an additional 693,504 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Chesapeake Energy by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 9,217,962 shares of the oil and gas exploration company’s stock worth $19,357,000 after buying an additional 458,983 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Chesapeake Energy by 1.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 8,008,400 shares of the oil and gas exploration company’s stock worth $15,616,000 after buying an additional 132,677 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Chesapeake Energy by 1.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,722,190 shares of the oil and gas exploration company’s stock worth $15,059,000 after buying an additional 113,966 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

About Chesapeake Energy (NYSE:CHK)

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.

Featured Story: Technical Analysis of Stocks and What It Means

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.