Chesapeake Energy (NASDAQ:CHK) Price Target Lowered to $105.00 at Mizuho

Chesapeake Energy (NASDAQ:CHK) had its target price cut by stock analysts at Mizuho from $111.00 to $105.00 in a report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 43.58% from the company’s previous close.

Several other research analysts have also issued reports on CHK. Wolfe Research initiated coverage on shares of Chesapeake Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 price target for the company. KeyCorp started coverage on Chesapeake Energy in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Truist Financial dropped their price objective on Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. StockNews.com raised shares of Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. Finally, Scotiabank cut their price target on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Chesapeake Energy currently has an average rating of “Hold” and a consensus target price of $106.67.

Chesapeake Energy Stock Performance

CHK stock traded down $0.09 during midday trading on Monday, hitting $73.13. 135,951 shares of the company traded hands, compared to its average volume of 1,886,382. Chesapeake Energy has a twelve month low of $69.12 and a twelve month high of $93.58. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 9.87 and a beta of 0.46. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The business has a 50 day simple moving average of $75.40 and a 200-day simple moving average of $82.98.

Chesapeake Energy (NASDAQ:CHK) last announced its earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The business had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. During the same quarter in the previous year, the company earned $0.64 EPS. Chesapeake Energy’s revenue for the quarter was down 73.3% compared to the same quarter last year. As a group, equities research analysts predict that Chesapeake Energy will post 1.32 earnings per share for the current year.

Institutional Investors Weigh In On Chesapeake Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. bought a new position in shares of Chesapeake Energy in the fourth quarter valued at $28,000. Lindbrook Capital LLC increased its stake in shares of Chesapeake Energy by 90.8% during the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after purchasing an additional 178 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Chesapeake Energy in the 1st quarter valued at about $37,000. BOKF NA acquired a new stake in Chesapeake Energy in the 1st quarter valued at about $45,000. Finally, GAMMA Investing LLC increased its position in Chesapeake Energy by 75.6% during the second quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock worth $47,000 after buying an additional 245 shares during the last quarter. 97.93% of the stock is owned by institutional investors.

About Chesapeake Energy

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.