Piper Sandler Initiates Coverage on Chesapeake Energy (NASDAQ:EXE)

Stock analysts at Piper Sandler assumed coverage on shares of Chesapeake Energy (NASDAQ:EXE) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $96.00 price target on the stock. Piper Sandler’s target price points to a potential downside of 6.41% from the company’s current price.

A number of other analysts also recently commented on EXE. Stephens boosted their target price on Chesapeake Energy from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho boosted their target price on Chesapeake Energy from $110.00 to $128.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Bank of America started coverage on Chesapeake Energy in a research report on Monday, October 28th. They set a “buy” rating and a $114.00 target price on the stock. JPMorgan Chase & Co. started coverage on Chesapeake Energy in a research report on Thursday, January 16th. They set an “overweight” rating and a $112.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on Chesapeake Energy from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Chesapeake Energy Price Performance

Chesapeake Energy stock opened at $102.57 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.00 and a current ratio of 2.00. Chesapeake Energy has a 1-year low of $69.12 and a 1-year high of $109.47. The stock has a market capitalization of $23.70 billion, a P/E ratio of 63.31 and a beta of 0.52. The company has a 50 day simple moving average of $100.22.

Chesapeake Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. Chesapeake Energy had a return on equity of 2.74% and a net margin of 6.07%. The firm had revenue of $648.00 million for the quarter, compared to the consensus estimate of $708.98 million. During the same period in the previous year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was down 57.1% compared to the same quarter last year. On average, equities research analysts anticipate that Chesapeake Energy will post 1.32 EPS for the current fiscal year.

Insider Activity

In related news, Director Catherine A. Kehr sold 43,623 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $99.58, for a total value of $4,343,978.34. Following the completion of the transaction, the director now directly owns 5,201 shares in the company, valued at approximately $517,915.58. This represents a 89.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 58.00% of the company’s stock.

About Chesapeake Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.