Chesapeake Energy (NASDAQ:EXE) Raised to Sector Outperform at Scotiabank

Chesapeake Energy (NASDAQ:EXE) was upgraded by research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage presently has a $130.00 target price on the stock, up from their previous target price of $105.00. Scotiabank’s price objective would indicate a potential upside of 22.23% from the stock’s previous close.

A number of other analysts also recently issued reports on EXE. UBS Group upgraded Chesapeake Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $94.00 to $123.00 in a research report on Monday, December 9th. Wells Fargo & Company lifted their target price on shares of Chesapeake Energy from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday. Stephens increased their price target on shares of Chesapeake Energy from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Chesapeake Energy from $109.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Citigroup increased their target price on Chesapeake Energy from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.38.

Chesapeake Energy Trading Down 1.3 %

Chesapeake Energy stock opened at $106.36 on Friday. Chesapeake Energy has a 1-year low of $69.12 and a 1-year high of $109.47. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.20. The company has a market cap of $24.58 billion, a price-to-earnings ratio of 65.65 and a beta of 0.52. The business’s 50 day moving average price is $98.82.

Chesapeake Energy (NASDAQ:EXE) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.15. The firm had revenue of $648.00 million for the quarter, compared to analysts’ expectations of $708.98 million. Chesapeake Energy had a net margin of 6.07% and a return on equity of 2.74%. The business’s quarterly revenue was down 57.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Research analysts forecast that Chesapeake Energy will post 0.89 earnings per share for the current year.

Insider Activity

In other Chesapeake Energy news, Director Catherine A. Kehr sold 43,623 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $99.58, for a total value of $4,343,978.34. Following the transaction, the director now owns 5,201 shares in the company, valued at approximately $517,915.58. The trade was a 89.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% 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.