Chesapeake Energy Co. (NASDAQ:CHK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Chesapeake Energy Co. (NASDAQ:CHKGet Rating) have earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $105.83.

CHK has been the subject of a number of recent analyst reports. Benchmark initiated coverage on shares of Chesapeake Energy in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $137.00 price target for the company. Credit Suisse Group started coverage on Chesapeake Energy in a research report on Tuesday, June 14th. They issued an “outperform” rating and a $115.00 price objective for the company. The Goldman Sachs Group raised their price objective on Chesapeake Energy from $106.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, August 22nd. Wells Fargo & Company raised their price objective on Chesapeake Energy from $102.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 11th. Finally, TheStreet raised Chesapeake Energy from a “d” rating to a “c-” rating in a research report on Wednesday, August 3rd.

Chesapeake Energy Stock Performance

Shares of CHK stock opened at $98.53 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $11.91 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 0.92 and a beta of 0.69. The company’s 50 day moving average price is $97.41 and its two-hundred day moving average price is $91.66. Chesapeake Energy has a 52 week low of $56.75 and a 52 week high of $105.93.

Chesapeake Energy (NASDAQ:CHKGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $4.87 earnings per share for the quarter, topping the consensus estimate of $3.74 by $1.13. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Chesapeake Energy had a net margin of 18.53% and a return on equity of 35.01%. On average, analysts expect that Chesapeake Energy will post 17.84 earnings per share for the current fiscal year.

Chesapeake Energy Cuts Dividend

The business also recently declared a None dividend, which was paid on Thursday, September 1st. Stockholders of record on Wednesday, August 17th were paid a $2.32 dividend. The ex-dividend date was Tuesday, August 16th. This represents a dividend yield of 10.5%. Chesapeake Energy’s payout ratio is currently 22.99%.

Chesapeake Energy announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 22nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 20.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Chairman Michael Wichterich bought 2,000 shares of the company’s stock in a transaction on Monday, June 27th. The stock was purchased at an average cost of $85.65 per share, for a total transaction of $171,300.00. Following the completion of the transaction, the chairman now owns 25,318 shares of the company’s stock, valued at $2,168,486.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CHK. Prelude Capital Management LLC lifted its holdings in Chesapeake Energy by 100.2% during the 1st quarter. Prelude Capital Management LLC now owns 10,014 shares of the company’s stock worth $871,000 after buying an additional 6,175,883 shares during the period. Vanguard Group Inc. lifted its stake in shares of Chesapeake Energy by 15.7% in the 1st quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock valued at $974,127,000 after purchasing an additional 1,517,281 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Chesapeake Energy by 4,616.7% in the 1st quarter. Clearbridge Investments LLC now owns 1,396,744 shares of the company’s stock valued at $121,517,000 after purchasing an additional 1,367,131 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Chesapeake Energy by 1,578.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,243,663 shares of the company’s stock valued at $108,199,000 after purchasing an additional 1,169,567 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Chesapeake Energy by 78.9% in the 1st quarter. Bank of New York Mellon Corp now owns 2,605,022 shares of the company’s stock valued at $226,635,000 after purchasing an additional 1,148,717 shares during the period.

Chesapeake Energy Company Profile

(Get Rating)

Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the United States. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana; and the liquids-rich resource play in the Eagle Ford Shale in South Texas.

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Analyst Recommendations for Chesapeake Energy (NASDAQ:CHK)

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