Chesapeake Energy (NASDAQ:CHK) Price Target Cut to $93.00

Chesapeake Energy (NASDAQ:CHK) had its price target dropped by analysts at Benchmark from $107.00 to $93.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 3.33% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CHK. Johnson Rice cut Chesapeake Energy from a “buy” rating to an “accumulate” rating in a research report on Thursday, December 14th. Citigroup upgraded Chesapeake Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $82.00 to $95.00 in a report on Friday, January 12th. UBS Group upped their price target on Chesapeake Energy from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Mizuho cut their price target on Chesapeake Energy from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Finally, Truist Financial cut their price target on Chesapeake Energy from $119.00 to $112.00 and set a “buy” rating for the company in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $103.00.

Chesapeake Energy Trading Up 0.1 %

Shares of NASDAQ CHK opened at $90.00 on Tuesday. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 5.34 and a beta of 0.52. The business has a 50 day simple moving average of $83.04 and a 200 day simple moving average of $81.82. Chesapeake Energy has a 52 week low of $72.84 and a 52 week high of $91.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.99 and a current ratio of 1.99.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.42 by $0.89. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $962.95 million. Chesapeake Energy had a return on equity of 6.74% and a net margin of 27.74%. During the same quarter in the previous year, the business posted $4.22 EPS. On average, research analysts predict that Chesapeake Energy will post 3.01 earnings per share for the current fiscal year.

Institutional Trading of Chesapeake Energy

Several large investors have recently made changes to their positions in CHK. CVA Family Office LLC bought a new position in Chesapeake Energy in the first quarter valued at about $888,000. Inscription Capital LLC bought a new position in Chesapeake Energy in the first quarter valued at about $207,000. Wedmont Private Capital bought a new position in Chesapeake Energy in the first quarter valued at about $279,000. NBC Securities Inc. boosted its holdings in Chesapeake Energy by 3.3% in the first quarter. NBC Securities Inc. now owns 12,473 shares of the company’s stock valued at $1,117,000 after acquiring an additional 401 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new position in Chesapeake Energy in the first quarter valued at about $623,000. Institutional investors own 97.93% of the company’s stock.

About Chesapeake Energy

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. 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.