Chesapeake Energy Corp. (CHK) Coverage Initiated at FBR & Co

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Research analysts at FBR & Co assumed coverage on shares of Chesapeake Energy Corp. (NYSE:CHK) in a note issued to investors on Tuesday, StockTargetPrices.com reports. The firm set an “underperform” rating and a $5.00 price target on the oil and gas exploration company’s stock. FBR & Co’s price objective would indicate a potential downside of 37.89% from the company’s previous close.
Several other analysts have also recently commented on the company. SunTrust Banks Inc. set a $11.00 target price on Chesapeake Energy Corp. and gave the stock a “buy” rating in a research report on Monday. Vetr raised Chesapeake Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $11.30 price objective for the company in a research report on Monday. Wunderlich raised Chesapeake Energy Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $6.00 to $10.00 in a research report on Friday. S&P Equity Research reissued a “hold” rating on shares of Chesapeake Energy Corp. in a research report on Thursday, August 18th. Finally, Deutsche Bank AG lifted their price objective on Chesapeake Energy Corp. from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Thursday, August 18th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $6.94.
Chesapeake Energy Corp. (NYSE:CHK) opened at 8.05 on Tuesday. The stock’s market cap is $6.17 billion. The company has a 50-day moving average price of $5.90 and a 200-day moving average price of $4.95. Chesapeake Energy Corp. has a one year low of $1.50 and a one year high of $9.55.

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Chesapeake Energy Corp. (NYSE:CHK) last issued its earnings results on Thursday, August 4th. The oil and gas exploration company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The business earned $1.62 billion during the quarter, compared to analyst estimates of $1.91 billion. Chesapeake Energy Corp. had a negative return on equity of 16.16% and a negative net margin of 104.29%. The business’s quarterly revenue was down 53.9% on a year-over-year basis. During the same period last year, the business earned ($0.11) EPS. On average, analysts anticipate that Chesapeake Energy Corp. will post ($0.22) earnings per share for the current year.
In other news, Director Thomas L. Ryan acquired 50,000 shares of Chesapeake Energy Corp. stock in a transaction on Wednesday, August 17th. The shares were purchased at an average price of $5.59 per share, with a total value of $279,500.00. Following the acquisition, the director now owns 246,269 shares in the company, valued at $1,376,643.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Archie W. Dunham acquired 350,000 shares of Chesapeake Energy Corp. stock in a transaction on Monday, August 22nd. The shares were purchased at an average cost of $6.07 per share, for a total transaction of $2,124,500.00. Following the acquisition, the director now owns 3,127,951 shares in the company, valued at approximately $18,986,662.57. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Exane Derivatives increased its position in Chesapeake Energy Corp. by 2,356.1% in the first quarter. Exane Derivatives now owns 24,561 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 23,561 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Chesapeake Energy Corp. during the first quarter valued at about $149,000. Nuveen Asset Management LLC increased its position in Chesapeake Energy Corp. by 1.3% in the first quarter. Nuveen Asset Management LLC now owns 36,966 shares of the oil and gas exploration company’s stock valued at $152,000 after buying an additional 460 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Chesapeake Energy Corp. by 11.0% in the second quarter. Louisiana State Employees Retirement System now owns 38,400 shares of the oil and gas exploration company’s stock valued at $164,000 after buying an additional 3,800 shares in the last quarter. Finally, IBM Retirement Fund increased its position in Chesapeake Energy Corp. by 4.1% in the second quarter. IBM Retirement Fund now owns 72,081 shares of the oil and gas exploration company’s stock valued at $322,000 after buying an additional 2,868 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.
Chesapeake Energy Corp. Company Profile
Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.

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