UBS Group Trims Chesapeake Energy (NASDAQ:CHK) Target Price to $85.00

Chesapeake Energy (NASDAQ:CHK) had its price objective lowered by equities researchers at UBS Group from $93.00 to $85.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 13.70% from the stock’s previous close.

CHK has been the subject of a number of other research reports. Wolfe Research initiated coverage on shares of Chesapeake Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $110.00 price target for the company. Truist Financial decreased their price objective on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Stephens upped their target price on shares of Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Scotiabank reduced their price target on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 20th. Finally, Mizuho lowered their price objective on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $105.92.

Chesapeake Energy Stock Up 1.9 %

NASDAQ:CHK traded up $1.42 on Wednesday, reaching $74.76. The stock had a trading volume of 175,829 shares, compared to its average volume of 1,878,541. The company has a 50-day moving average of $75.02 and a 200 day moving average of $82.84. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19. The stock has a market cap of $9.80 billion, a P/E ratio of 10.08 and a beta of 0.46. Chesapeake Energy has a 12-month low of $69.12 and a 12-month high of $93.58.

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

Institutional Investors Weigh In On Chesapeake Energy

Hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in Chesapeake Energy in the 2nd quarter worth about $956,000. Clearbridge Investments LLC boosted its position in shares of Chesapeake Energy by 3.3% during the second quarter. Clearbridge Investments LLC now owns 474,459 shares of the company’s stock worth $38,996,000 after buying an additional 14,951 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in Chesapeake Energy by 133.8% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 84,493 shares of the company’s stock worth $6,945,000 after buying an additional 48,348 shares in the last quarter. Creative Planning increased its position in Chesapeake Energy by 4.6% in the 2nd quarter. Creative Planning now owns 19,352 shares of the company’s stock valued at $1,591,000 after acquiring an additional 857 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its stake in Chesapeake Energy by 72.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 141,413 shares of the company’s stock valued at $11,623,000 after acquiring an additional 59,400 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors.

Chesapeake Energy Company Profile

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.