Vetr’s price objective suggests a potential upside of 6.12% from the company’s current price.
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Other hedge funds and institutional investors have recently made changes to their positions in the company. Pennsylvania Trust Company boosted its stake in Chesapeake Energy by 120.2% in the fourth quarter. In exchange, Chesapeake pledged “substantially all of the company’s assets, including mortgages encumbering 90 percent of all the company’s proved oil and gas properties” as collateral, according to a regulatory filing on Monday.
Old West Investment Management Llc holds 4.66% of its portfolio in Chesapeake Energy Corporation for 836,246 shares.
Chesapeake rose 13 percent to $4.24 at 11:34 a.m.in NY, after earlier jumping 15 percent. The stock’s 50 day moving average is $4.05 and its 200-day moving average is $4.91. The 52-Week range of the stock is $1.50 – $16.98. The stock holds the market capitalization of $2.98B. The oil and gas exploration company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.01. Last year, shares tumbled 77 percent for the worst annual performance since 1998. The business’s quarterly revenue was down 53.4% compared to the same quarter past year. Equities analysts forecast that Chesapeake Energy will post ($0.39) EPS for the current fiscal year.
While spring is typically a time for optimism and new beginnings, many energy investors had an ominous feeling this spring.
Tudor, Pickering, Holt & Co. upgraded CHK shares from Sell to Hold, following the stock movement yesterday.
In the time frame of the last one month, the share-price has decreased nearly -38.61%. Shares of company began trading at $4.12 climbed to high of $4.50 touched the low of $4.10. Finally, SunTrust reaffirmed a “buy” rating on shares of Chesapeake Energy in a report on Tuesday, December 29th. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell.
Revenues of Chesapeake Energy, a US-based oil and gas producer, are highly dependent on commodity markets.
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Valero Energy Corporation operates as an independent petroleum refining and marketing company in the United States, Canada, the Caribbean, the United Kingdom, and Ireland. Chesapeake owns interests in producing oil and gas wells concentrated in three primary operating areas: “the Mid-Continent region of Oklahoma, western Arkansas, southwestern Kansas and the Texas Panhandle; the Gulf Coast region consisting primarily of the Austin Chalk Trend in Texas and Louisiana and the Tuscaloosa Trend in Louisiana; and the Helmet area of northeastern British Columbia”.
