Chesapeake Energy Co. (NASDAQ:CHK) Receives $106.67 Consensus Price Target from Brokerages

Shares of Chesapeake Energy Co. (NASDAQ:CHK) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $105.92.

Several research firms have commented on CHK. Scotiabank cut their price target on 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. StockNews.com raised Chesapeake Energy to a “sell” rating in a report on Wednesday, August 14th. UBS Group dropped their target price on Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Stephens boosted their target price on Chesapeake Energy from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Wolfe Research assumed coverage on Chesapeake Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $110.00 target price on the stock.

Institutional Trading of Chesapeake Energy

A number of institutional investors have recently bought and sold shares of the company. Aurora Investment Counsel raised its holdings in shares of Chesapeake Energy by 1.1% in the first quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock worth $1,060,000 after acquiring an additional 135 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Chesapeake Energy by 90.8% in the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares during the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Chesapeake Energy by 1.3% in the second quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock worth $1,142,000 after acquiring an additional 180 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Chesapeake Energy by 1.9% in the second quarter. Toronto Dominion Bank now owns 10,205 shares of the company’s stock worth $839,000 after acquiring an additional 186 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Chesapeake Energy by 32.4% in the first quarter. Abich Financial Wealth Management LLC now owns 900 shares of the company’s stock worth $80,000 after acquiring an additional 220 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Energy Trading Up 2.5 %

CHK opened at $78.46 on Tuesday. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 10.57 and a beta of 0.46. Chesapeake Energy has a 52 week low of $69.12 and a 52 week high of $93.58. The business’s 50 day moving average is $74.62 and its two-hundred day moving average is $82.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

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). The firm had revenue of $505.00 million for the quarter, compared to analyst estimates of $822.54 million. Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The company’s quarterly revenue was down 73.3% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. On average, research analysts predict that Chesapeake Energy will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.30 dividend on an annualized basis and a yield of 2.93%. Chesapeake Energy’s payout ratio is 31.00%.

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.