Chesapeake Energy Co. (NYSE:CHK) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.67, but opened at $2.56. Chesapeake Energy shares last traded at $2.46, with a volume of 972398 shares traded.

Several brokerages have commented on CHK. Goldman Sachs Group lowered shares of Chesapeake Energy from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $2.75 to $2.50 in a report on Friday, April 12th. They noted that the move was a valuation call. Raymond James set a $5.00 price objective on shares of Chesapeake Energy and gave the stock a “buy” rating in a report on Tuesday, March 19th. MKM Partners set a $3.00 price objective on shares of Chesapeake Energy and gave the stock a “hold” rating in a report on Tuesday, March 5th. Guggenheim restated a “neutral” rating on shares of Chesapeake Energy in a report on Wednesday, April 17th. Finally, Citigroup upped their price objective on shares of Chesapeake Energy from $2.50 to $3.50 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Ten analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $4.01.

The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.72. The company has a market capitalization of $3.92 billion, a PE ratio of 2.76, a PEG ratio of 0.61 and a beta of 2.39.

Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $1.13 billion. Chesapeake Energy had a negative return on equity of 138.70% and a net margin of 5.39%. The firm’s revenue was down 25.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, equities analysts expect that Chesapeake Energy Co. will post 0.63 EPS for the current year.

In related news, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3.29, for a total value of $19,456,191.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Oxford Asset Management LLP purchased a new stake in Chesapeake Energy during the 1st quarter valued at about $8,347,000. Utah Retirement Systems grew its position in Chesapeake Energy by 17.8% during the 1st quarter. Utah Retirement Systems now owns 196,871 shares of the oil and gas exploration company’s stock valued at $610,000 after purchasing an additional 29,735 shares during the last quarter. Level Four Advisory Services LLC grew its position in Chesapeake Energy by 43.9% during the 1st quarter. Level Four Advisory Services LLC now owns 17,159 shares of the oil and gas exploration company’s stock valued at $53,000 after purchasing an additional 5,234 shares during the last quarter. Hsbc Holdings PLC grew its position in Chesapeake Energy by 3.2% during the 1st quarter. Hsbc Holdings PLC now owns 381,335 shares of the oil and gas exploration company’s stock valued at $1,182,000 after purchasing an additional 11,662 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in Chesapeake Energy by 63.3% during the 1st quarter. Voya Investment Management LLC now owns 801,016 shares of the oil and gas exploration company’s stock valued at $2,483,000 after purchasing an additional 310,351 shares during the last quarter. 58.81% of the stock is currently owned by institutional investors.

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About Chesapeake Energy (NYSE:CHK)

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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

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