Chesapeake Energy Co. (NASDAQ: CHK) Receives Analyst ‘Buy’ Consensus Recommendation
Chesapeake Energy Co. (NASDAQ: CHK) received an average “Buy” recommendation from the six research companies that cover the stock, reports Marketbeat Ratings. Two analysts rated the stock with a keep recommendation and four gave the company a buy recommendation. The 1-year average target price among brokers who updated their equity coverage in the past year is $ 59.67.
A number of research analysts have commented on CHK shares. Royal Bank of Canada raised its price target for Chesapeake Energy from $ 58.00 to $ 62.00 and gave the company an “outperformance” rating in a research report released Thursday, May 13. MKM Partners downgraded Chesapeake Energy from a “sell” rating to a “buy” rating in a research report released on Thursday, May 27. Wolfe Research began covering Chesapeake Energy in a research note on Thursday, March 11. They issued an “outperformance” rating on the stock. Wells Fargo & Company raised its price target for Chesapeake Energy from $ 56.00 to $ 60.00 and rated the stock “overweight” in a Wednesday May 19 research note. Finally, Seaport Global Securities reiterated a “neutral” rating on Chesapeake Energy shares in a research note on Monday April 5.
A number of institutional investors and hedge funds have recently increased or reduced their holdings in the stock. Franklin Resources Inc. purchased a new position in Chesapeake Energy shares during the first quarter valued at approximately $ 542,634,000. Prudential Financial Inc. purchased a new position in Chesapeake Energy shares during the first quarter valued at approximately $ 535,914,000. Oaktree Capital Management LP purchased a new position in Chesapeake Energy shares during the first quarter valued at approximately $ 518,038,000. DE Shaw & Co. Inc. purchased a new position in shares of Chesapeake Energy during the first quarter valued at approximately $ 270,120,000. Finally, Glendon Capital Management LP purchased a new equity interest in Chesapeake Energy during the first quarter for a value of approximately $ 169,427,000. Institutional investors hold 96.12% of the shares of the company.
NASDAQ: CHK opened at $ 50.05 on Wednesday. Chesapeake Energy has a 52 week low of $ 40.00 and a 52 week high of $ 56.99. The company’s fifty-day moving average is $ 51.05. The company has a debt to equity ratio of 0.33, a quick ratio of 0.82, and a current ratio of 0.82. The company has a market capitalization of $ 4.90 billion and a price-to-earnings ratio of -1.14.
Chesapeake Energy (NASDAQ: CHK) last released its quarterly earnings data on Monday, May 10. The company reported earnings per share (EPS) of $ 14.49 for the quarter, beating analyst consensus estimates of $ 1.85 from $ 12.64. Chesapeake Energy recorded a negative return on equity of 109.73% and a net margin of 109.73%. On average, sell-side analysts predict that Chesapeake Energy will post 6.57 EPS for the current fiscal year.
The company also recently announced an unavailable dividend, which was paid on Thursday, June 10. Shareholders of record on Monday, May 24, received a dividend of $ 1.375. The ex-dividend date of this dividend was Friday May 21. Chesapeake Energy’s dividend payout ratio (DPR) is -12.65%.
About Chesapeake Energy
Chesapeake Energy Corporation engages in the acquisition, exploration and development of properties for the production of petroleum, natural gas and natural gas liquids (NGLs) from underground reservoirs in the United States. The company owns interests in natural gas resource areas, including Marcellus in the northern Appalachian Basin in Pennsylvania; Haynesville located in northwest Louisiana; Eagle Ford in South Texas; the Brazos Valley in southeast Texas; and the Powder River Basin in Wyoming.
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