The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. “10” said as “SELL” recommendations and “2” suggested “UNDERWEIGHT” rating. (NYSE:CHK) traded up 3.3231% during midday trading on Monday, reaching $5.0525. The company recent traded volume was higher than its average volume of 5.31 million shares. The company earned $1.62 billion during the quarter, compared to analysts’ expectations of $1.91 billion. The company’s 50-day moving average is $4.68 and its 200 day moving average is $4.29.
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Chesapeake Energy Corporation (NYSE:CHK) went lower by -4.68% to close at $ 4.89. The adjusted loss was $0.14/share, missing analysts’ consensus estimate of a loss of $0.10/share, too. During the same period in the previous year, the company posted ($0.11) earnings per share. The firm earned $1.62 billion during the quarter, compared to the consensus estimate of $1.91 billion.
Ridgemont Partners Management Llc holds 4.32% of its portfolio in Chesapeake Energy Corporation for 341,691 shares. Analyst’s mean target price for MRO is 17.92 while analysts mean recommendation is 2.40. (NYSE:FCX) is 12.00 while analysts mean recommendation is 2.90. Johnson Rice raised Chesapeake Energy Corp. from a “hold” rating to an “accumulate” rating in a report on Tuesday, July 26th. On a relative basis, the stock has outperformed the S&P 500 by 12.53% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $6.66. The company has the institutional ownership of 72.50% while the Beta factor was 1.96. The ratio worsened, as 106 funds sold all Chesapeake Energy Corporation shares owned while 174 reduced positions. Now shares have been suggested as “BUY” from “8” brokerage firms and recommended as “Strong Buy” by “0” brokerage firms.
Chesapeake shares are finally picking up momentum after a decline in value of around 3% after the company announced its second quarter earnings. Marshall Wace LLP purchased a new stake in shares of Chesapeake Energy Corp. during the fourth quarter worth $13,395,000.
I believe that asset sales are the best option for Chesapeake Energy at this point to get its debt under control and continue to save cash on annual interest expenses, which is why the raised asset sales target is a positive for shareholders. The share price is trading in a range of $4.86 – $5.19.
CF Industries Holdings, Inc.
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Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States.
