Chesapeake Energy Corp. Forecasted to Earn FY2016 Earnings of $0.07 Per Share (CHK)
Chesapeake Energy Corp. (NYSE:CHK) – Research analysts at Jefferies Group raised their FY2016 EPS estimates for shares of Chesapeake Energy Corp. in a research report issued on Thursday. Jefferies Group analyst J. Wolff now expects that the brokerage will post earnings per share of $0.07 for the year, up from their prior forecast of ($0.16). Jefferies Group has a “Hold” rating and a $5.00 price target on the stock. Jefferies Group also issued estimates for Chesapeake Energy Corp.’s Q4 2016 earnings at $0.05 EPS, Q2 2017 earnings at $0.27 EPS, Q3 2017 earnings at $0.34 EPS, Q4 2017 earnings at $0.46 EPS and FY2017 earnings at $1.56 EPS.
Several other brokerages also recently issued reports on CHK. FBR & Co initiated coverage on Chesapeake Energy Corp. in a research report on Tuesday, September 13th. They issued an “underperform” rating and a $5.00 price objective for the company. Wunderlich raised Chesapeake Energy Corp. from a “hold” rating to a “buy” rating and lifted their target price for the company from $6.00 to $10.00 in a research note on Friday, September 9th. Vetr raised Chesapeake Energy Corp. from a “hold” rating to a “strong-buy” rating and set a $11.30 target price for the company in a research note on Monday, September 12th. SunTrust Banks Inc. set a $11.00 target price on Chesapeake Energy Corp. and gave the company a “buy” rating in a research note on Monday, September 12th. Finally, Nomura raised Chesapeake Energy Corp. from a “reduce” rating to a “neutral” rating and lifted their target price for the company from $4.00 to $7.50 in a research note on Friday, October 21st. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.44.
Shares of Chesapeake Energy Corp. (NYSE:CHK) opened at 5.43 on Monday. The company has a 50-day moving average price of $6.15 and a 200 day moving average price of $5.46. The stock’s market capitalization is $4.16 billion. Chesapeake Energy Corp. has a 52 week low of $1.50 and a 52 week high of $8.15.
Chesapeake Energy Corp. (NYSE:CHK) last announced its earnings results on Thursday, November 3rd. The oil and gas exploration company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. Chesapeake Energy Corp. had a negative return on equity of 16.16% and a negative net margin of 70.72%. The business earned $2.28 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the business posted ($0.05) earnings per share. Chesapeake Energy Corp.’s revenue was down 32.6% compared to the same quarter last year.
Large investors have recently modified their holdings of the company. Harris Associates L P increased its stake in shares of Chesapeake Energy Corp. by 1,007.7% in the third quarter. Harris Associates L P now owns 33,340,440 shares of the oil and gas exploration company’s stock worth $209,045,000 after buying an additional 30,330,440 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Chesapeake Energy Corp. by 13.7% in the second quarter. Vanguard Group Inc. now owns 56,159,572 shares of the oil and gas exploration company’s stock worth $240,364,000 after buying an additional 6,754,588 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Chesapeake Energy Corp. during the second quarter worth about $22,374,000. Senator Investment Group LP bought a new stake in shares of Chesapeake Energy Corp. during the second quarter worth about $21,400,000. Finally, First Trust Advisors LP bought a new stake in shares of Chesapeake Energy Corp. during the third quarter worth about $23,963,000. 64.91% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Archie W. Dunham purchased 1,000,000 shares of Chesapeake Energy Corp. stock in a transaction that occurred on Tuesday, September 20th. The shares were acquired at an average price of $6.67 per share, with a total value of $6,670,000.00. Following the completion of the transaction, the director now directly owns 4,127,951 shares of the company’s stock, valued at approximately $27,533,433.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas L. Ryan purchased 50,000 shares of Chesapeake Energy Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were bought at an average cost of $5.59 per share, for a total transaction of $279,500.00. Following the transaction, the director now directly owns 246,269 shares of the company’s stock, valued at $1,376,643.71. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.
About Chesapeake Energy Corp.
Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.
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