Citigroup Forecasts Strong Price Appreciation for Chesapeake Energy (NASDAQ:EXE) Stock

Chesapeake Energy (NASDAQ:EXE) had its target price boosted by equities research analysts at Citigroup from $100.00 to $115.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 19.08% from the stock’s current price.

Several other research firms also recently weighed in on EXE. Royal Bank of Canada upped their price target on Chesapeake Energy from $102.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Stephens upped their target price on shares of Chesapeake Energy from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Roth Capital upgraded shares of Chesapeake Energy to a “strong-buy” rating in a report on Friday, September 27th. Bank of America initiated coverage on shares of Chesapeake Energy in a report on Monday, October 28th. They set a “buy” rating and a $114.00 price objective for the company. Finally, Mizuho lifted their target price on Chesapeake Energy from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.29.

Chesapeake Energy Price Performance

Shares of NASDAQ EXE opened at $96.57 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.20. Chesapeake Energy has a 1 year low of $69.12 and a 1 year high of $101.27. The stock has a fifty day moving average price of $91.21. The stock has a market capitalization of $22.32 billion, a PE ratio of 59.61 and a beta of 0.52.

Chesapeake Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. The business had revenue of $648.00 million for the quarter, compared to analysts’ expectations of $708.98 million. Chesapeake Energy had a return on equity of 2.74% and a net margin of 6.07%. The business’s quarterly revenue was down 57.1% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share. On average, research analysts expect that Chesapeake Energy will post 0.86 EPS for the current year.

Insider Activity

In related news, Director Catherine A. Kehr sold 43,623 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $99.58, for a total transaction of $4,343,978.34. Following the transaction, the director now directly owns 5,201 shares in the company, valued at approximately $517,915.58. This represents a 89.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 58.00% of the company’s stock.

About Chesapeake Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.