Chesapeake Energy (NYSE:CHK) Announces Earnings Results

Chesapeake Energy (NYSE:CHK) issued its quarterly earnings data on Wednesday, May 8th. The oil and gas exploration company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01), Morningstar.com reports. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $1.13 billion. Chesapeake Energy had a net margin of 5.39% and a negative return on equity of 138.70%. Chesapeake Energy’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS.

NYSE:CHK traded down $0.12 during trading hours on Friday, reaching $1.92. The company had a trading volume of 38,761,528 shares, compared to its average volume of 45,677,301. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.72. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 2.13 and a beta of 2.39. Chesapeake Energy has a twelve month low of $1.71 and a twelve month high of $5.60.

In other Chesapeake Energy news, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $3.29, for a total value of $19,456,191.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert D. Lawler purchased 50,000 shares of Chesapeake Energy stock in a transaction on Friday, May 24th. The stock was bought at an average price of $2.02 per share, with a total value of $101,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 5,083,298 shares of the company’s stock, valued at approximately $10,268,261.96. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Financial Advocates Investment Management lifted its stake in shares of Chesapeake Energy by 158.3% in the fourth quarter. Financial Advocates Investment Management now owns 6,085 shares of the oil and gas exploration company’s stock valued at $42,000 after buying an additional 3,729 shares in the last quarter. Sigma Planning Corp lifted its stake in shares of Chesapeake Energy by 34.5% in the first quarter. Sigma Planning Corp now owns 15,805 shares of the oil and gas exploration company’s stock valued at $49,000 after buying an additional 4,055 shares in the last quarter. LDR Capital Management LLC bought a new position in shares of Chesapeake Energy in the first quarter valued at $232,000. Montgomery Investment Management Inc. lifted its position in shares of Chesapeake Energy by 1.7% during the first quarter. Montgomery Investment Management Inc. now owns 262,270 shares of the oil and gas exploration company’s stock valued at $813,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Nwam LLC lifted its position in shares of Chesapeake Energy by 8.2% during the fourth quarter. Nwam LLC now owns 68,806 shares of the oil and gas exploration company’s stock valued at $144,000 after purchasing an additional 5,191 shares in the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.

Several equities analysts recently commented on CHK shares. MKM Partners set a $3.00 price objective on shares of Chesapeake Energy and gave the company a “hold” rating in a research note on Tuesday, March 5th. Raymond James set a $5.00 price objective on shares of Chesapeake Energy and gave the company a “buy” rating in a research note on Tuesday, March 19th. Citigroup increased their price objective on shares of Chesapeake Energy from $2.50 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. TheStreet downgraded shares of Chesapeake Energy from a “c” rating to a “d+” rating in a research note on Wednesday, May 8th. Finally, Goldman Sachs Group downgraded shares of Chesapeake Energy from a “neutral” rating to a “sell” rating and dropped their price target for the company from $2.75 to $2.50 in a research note on Friday, April 12th. They noted that the move was a valuation call. Ten analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $4.01.

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About Chesapeake Energy

Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

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Earnings History for Chesapeake Energy (NYSE:CHK)

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