Chesapeake Energy (NYSE:CHK) Trading Up 16.5%

Chesapeake Energy Co. (NYSE:CHK) was up 16.5% on Wednesday . The stock traded as high as $0.75 and last traded at $0.74, approximately 155,380,672 shares changed hands during trading. An increase of 181% from the average daily volume of 55,297,465 shares. The stock had previously closed at $0.64.

Several equities research analysts recently weighed in on CHK shares. Tudor Pickering downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Scotiabank raised Chesapeake Energy from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, November 26th. Zacks Investment Research raised Chesapeake Energy from a “sell” rating to a “hold” rating and set a $2.50 price objective on the stock in a report on Tuesday, September 17th. SunTrust Banks set a $2.00 price objective on Chesapeake Energy and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Johnson Rice downgraded Chesapeake Energy from an “accumulate” rating to a “hold” rating in a report on Tuesday, November 19th. Seven research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $2.57.

The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 0.83 and a beta of 2.27. The company has a fifty day simple moving average of $1.00 and a 200 day simple moving average of $1.52. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.60 and a current ratio of 0.60.

Chesapeake Energy (NYSE:CHK) last announced its earnings results on Tuesday, November 5th. The oil and gas exploration company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.02). The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. Chesapeake Energy had a return on equity of 9.01% and a net margin of 5.46%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, equities analysts predict that Chesapeake Energy Co. will post -0.29 earnings per share for the current fiscal year.

In other Chesapeake Energy news, Director R Brad Martin acquired 250,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $0.91 per share, with a total value of $227,500.00. Also, CAO William M. Buergler acquired 70,681 shares of the stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $0.71 per share, with a total value of $50,183.51. Following the completion of the transaction, the chief accounting officer now owns 408,221 shares in the company, valued at approximately $289,836.91. The disclosure for this purchase can be found here. Insiders have acquired a total of 370,681 shares of company stock worth $323,184 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Westwood Holdings Group Inc. raised its position in shares of Chesapeake Energy by 1.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 8,008,400 shares of the oil and gas exploration company’s stock worth $15,616,000 after acquiring an additional 132,677 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chesapeake Energy by 1.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,722,190 shares of the oil and gas exploration company’s stock worth $15,059,000 after acquiring an additional 113,966 shares in the last quarter. Algebris UK Ltd bought a new position in shares of Chesapeake Energy in the 3rd quarter worth about $3,008,000. First Trust Advisors LP raised its position in shares of Chesapeake Energy by 366.5% in the 3rd quarter. First Trust Advisors LP now owns 4,333,207 shares of the oil and gas exploration company’s stock worth $6,110,000 after acquiring an additional 3,404,290 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Chesapeake Energy by 3.3% in the 3rd quarter. Rhumbline Advisers now owns 2,845,196 shares of the oil and gas exploration company’s stock worth $4,012,000 after acquiring an additional 91,316 shares in the last quarter. 69.69% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Energy Company Profile (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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