Chesapeake Energy (CHK) Shares Down 5.9%

Chesapeake Energy Co. (NYSE:CHK)’s share price traded down 5.9% on Friday . The stock traded as low as $1.90 and last traded at $1.92. 38,761,528 shares traded hands during trading, a decline of 15% from the average session volume of 45,677,301 shares. The stock had previously closed at $2.04.

A number of equities research analysts recently weighed in on CHK shares. Zacks Investment Research lowered shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 16th. Argus lowered shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. SunTrust Banks restated a “hold” rating on shares of Chesapeake Energy in a report on Wednesday, May 8th. Guggenheim restated a “neutral” rating on shares of Chesapeake Energy in a report on Wednesday, April 17th. Finally, Goldman Sachs Group lowered shares of Chesapeake Energy from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $2.75 to $2.50 in a report on Friday, April 12th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.01.

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 firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 2.13 and a beta of 2.39.

Chesapeake Energy (NYSE:CHK) last posted its earnings results on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $1.13 billion. Chesapeake Energy had a negative return on equity of 138.70% and a net margin of 5.39%. The company’s revenue was down 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. On average, equities research analysts forecast that Chesapeake Energy Co. will post -0.06 earnings per share for the current year.

In other Chesapeake Energy news, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James R. Webb acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $1.96 per share, with a total value of $98,000.00. Following the purchase, the executive vice president now owns 1,439,322 shares in the company, valued at approximately $2,821,071.12. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Large investors have recently bought and sold shares of the business. Sigma Planning Corp purchased a new stake in Chesapeake Energy in the 4th quarter valued at about $25,000. Garrison Point Advisors LLC bought a new position in shares of Chesapeake Energy during the 4th quarter valued at approximately $25,000. Bessemer Group Inc. grew its position in shares of Chesapeake Energy by 1,081.8% during the 4th quarter. Bessemer Group Inc. now owns 11,818 shares of the oil and gas exploration company’s stock valued at $25,000 after acquiring an additional 10,818 shares during the period. Peak Asset Management LLC bought a new position in shares of Chesapeake Energy during the 4th quarter valued at approximately $26,000. Finally, FTB Advisors Inc. grew its position in shares of Chesapeake Energy by 193.4% during the 1st quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 5,802 shares during the period. Hedge funds and other institutional investors own 70.10% of the company’s stock.

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About Chesapeake Energy (NYSE:CHK)

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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