Analysts Offer Predictions for Chesapeake Energy Co.’s FY2018 Earnings (CHK)
Chesapeake Energy Co. (NYSE:CHK) – Piper Jaffray Companies upped their FY2018 EPS estimates for Chesapeake Energy in a research note issued on Thursday, February 7th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas exploration company will post earnings per share of $0.85 for the year, up from their previous estimate of $0.84. Piper Jaffray Companies currently has a “Hold” rating and a $5.00 price target on the stock. Piper Jaffray Companies also issued estimates for Chesapeake Energy’s Q4 2018 earnings at $0.14 EPS.
Several other analysts have also recently issued reports on the company. Zacks Investment Research cut Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. UBS Group set a $2.00 target price on Chesapeake Energy and gave the company a “sell” rating in a report on Monday, January 14th. Raymond James upped their price target on Chesapeake Energy from $3.50 to $4.00 and gave the company an “outperform” rating in a research note on Friday, January 11th. Imperial Capital decreased their price target on Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating on the stock in a research note on Thursday, January 10th. Finally, Bank of America lowered Chesapeake Energy from a “neutral” rating to an “underperform” rating in a research note on Friday, January 4th. Nine investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $4.12.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sigma Planning Corp acquired a new position in Chesapeake Energy during the 4th quarter worth about $25,000. Garrison Point Advisors LLC acquired a new position in Chesapeake Energy during the 4th quarter worth about $25,000. WINTON GROUP Ltd acquired a new position in Chesapeake Energy during the 4th quarter worth about $27,000. Wealth Architects LLC acquired a new position in Chesapeake Energy during the 4th quarter worth about $28,000. Finally, Moneta Group Investment Advisors LLC acquired a new position in Chesapeake Energy during the 4th quarter worth about $35,000. 58.86% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Archie W. Dunham bought 1,200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 18th. The shares were purchased at an average price of $2.22 per share, with a total value of $2,664,000.00. Following the purchase, the director now owns 6,047,375 shares in the company, valued at $13,425,172.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Brad Martin bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were purchased at an average cost of $2.65 per share, for a total transaction of $132,500.00. Following the purchase, the director now owns 727,900 shares in the company, valued at approximately $1,928,935. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,805,000 shares of company stock worth $7,788,650. Corporate insiders own 1.70% of the company’s stock.
Chesapeake Energy Company Profile
Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.
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