Chesapeake Energy Corporation (NYSE:CHK) was upgraded by investment analysts at Janney Montgomery Scott from a "neutral" rating to a "buy" rating in a report issued on Wednesday, MarketBeat.com reports.
Other hedge funds recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its stake in shares of Chesapeake Energy Corp. by 37.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,617,988 shares of the oil and gas exploration company's stock worth $6,666,000 after buying an additional 441,582 shares in the last quarter. Icon Advisers Inc. Co. bought a new stake in shares of Chesapeake Energy Corp. during the first quarter worth $3,315,000. Exane Derivatives raised its stake in shares of Chesapeake Energy Corp. by 2,356.1% in the first quarter. Exane Derivatives now owns 24,561 shares of the oil and gas exploration company's stock worth $101,000 after buying an additional 23,561 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Chesapeake Energy Corp. by 4.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 436,587 shares of the oil and gas exploration company's stock worth $1,798,000 after buying an additional 18,485 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Chesapeake Energy Corp. during the fourth quarter worth $25,055,000.
Shares of Chesapeake Energy Corp. traded down 0.21% during mid-day trading on Wednesday, reaching $4.80. The company's stock had a trading volume of 36,046,346 shares. Chesapeake Energy Corp. has a 1-year low of $1.50 and a 1-year high of $9.55. The firm's 50 day moving average price is $4.70 and its 200-day moving average price is $4.32. The company's market capitalization is $3.68 billion.
Chesapeake Energy Corp. (NYSE:CHK) last announced its quarterly earnings results on Thursday, August 4th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.11) by $0.03. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted ($0.11) EPS. The firm's revenue was down 53.9% compared to the same quarter last year. On average, analysts predict that Chesapeake Energy Corp. will post ($0.39) EPS for the current year.
A number of other equities analysts have also weighed in on the stock. RBC Capital Markets reiterated an "underperform" rating on shares of Chesapeake Energy Corp. in a report on Wednesday, MarketBeat.com reports. Deutsche Bank AG lifted their price target on shares of Chesapeake Energy Corp. from $4.00 to $5.00 and gave the company a "hold" rating in a report on Wednesday, MarketBeat.com reports. Citigroup Inc. lifted their price target on shares of Chesapeake Energy Corp. from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Monday, MarketBeat.com reports. Jefferies Group lifted their price target on shares of Chesapeake Energy Corp. from $3.00 to $4.00 and gave the company an "underperform" rating in a report on Friday, August 5th. Finally, Guggenheim reiterated a "neutral" rating and issued a $5.42 price target on shares of Chesapeake Energy Corp. in a report on Tuesday, August 2nd. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Chesapeake Energy Corp. has a consensus rating of "Hold" and an average price target of $6.71.
Chesapeake Energy Corporation (NYSE:CHK) (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.