Chesapeake Energy (NASDAQ:CHK) Price Target Raised to $83.00

Chesapeake Energy (NASDAQ:CHK) had its price objective raised by analysts at Wells Fargo & Company from $77.00 to $83.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 2.00% from the company’s current price.

CHK has been the topic of a number of other research reports. Roth Mkm initiated coverage on Chesapeake Energy in a research report on Friday. They issued a “buy” rating and a $92.00 target price on the stock. KeyCorp initiated coverage on Chesapeake Energy in a research report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Truist Financial reduced their target price on Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday. Scotiabank reduced their target price on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.92.

Chesapeake Energy Trading Down 1.1 %

Chesapeake Energy stock traded down $0.88 during trading on Tuesday, reaching $81.37. 2,027,103 shares of the company were exchanged, compared to its average volume of 1,977,065. Chesapeake Energy has a 52-week low of $69.12 and a 52-week high of $93.58. The company has a market capitalization of $10.66 billion, a P/E ratio of 10.98 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 2.16. The stock’s 50 day simple moving average is $74.44 and its two-hundred day simple moving average is $82.61.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Chesapeake Energy had a return on equity of 4.00% and a net margin of 8.68%. The company had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. During the same quarter in the previous year, the business posted $0.64 EPS. The business’s quarterly revenue was down 73.3% compared to the same quarter last year. On average, equities research analysts expect that Chesapeake Energy will post 1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Chesapeake Energy during the 1st quarter worth about $37,000. BOKF NA acquired a new position in shares of Chesapeake Energy during the 1st quarter worth about $45,000. GAMMA Investing LLC boosted its position in shares of Chesapeake Energy by 75.6% in the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock valued at $47,000 after purchasing an additional 245 shares during the period. Blue Trust Inc. boosted its position in shares of Chesapeake Energy by 895.6% in the 2nd quarter. Blue Trust Inc. now owns 677 shares of the company’s stock valued at $60,000 after purchasing an additional 609 shares during the period. Finally, Mather Group LLC. boosted its position in shares of Chesapeake Energy by 1,384.8% in the 2nd quarter. Mather Group LLC. now owns 683 shares of the company’s stock valued at $61,000 after purchasing an additional 637 shares during the period. 97.93% of the stock is owned by institutional investors and hedge funds.

About Chesapeake Energy

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.