Chesapeake Energy (NASDAQ:CHK) Given New $105.00 Price Target at Mizuho

Chesapeake Energy (NASDAQ:CHK) had its target price cut by Mizuho from $111.00 to $105.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 43.17% from the stock’s current price.

Several other research firms have also recently commented on CHK. KeyCorp initiated coverage on shares of Chesapeake Energy in a report on Thursday, June 27th. They set a “sector weight” rating for the company. Truist Financial lowered their price target on shares of Chesapeake Energy from $112.00 to $108.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Stephens boosted their price objective on shares of Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Scotiabank reduced their price objective on shares of Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of Chesapeake Energy to a “sell” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.67.

Chesapeake Energy Price Performance

Shares of CHK stock opened at $73.34 on Monday. 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 firm’s 50-day moving average is $75.02 and its two-hundred day moving average is $82.84. Chesapeake Energy has a 12 month low of $69.12 and a 12 month high of $93.58. The company has a market capitalization of $9.61 billion, a PE ratio of 9.88 and a beta of 0.46.

Chesapeake Energy (NASDAQ:CHK) last issued its earnings results 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 firm had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. During the same period last year, the firm earned $0.64 earnings per share. Chesapeake Energy’s revenue for the quarter was down 73.3% on a year-over-year basis. Analysts predict that Chesapeake Energy will post 1.32 earnings per share for the current year.

Hedge Funds Weigh In On Chesapeake Energy

A number of large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Chesapeake Energy by 233.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,059,644 shares of the company’s stock worth $804,769,000 after purchasing an additional 6,338,963 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Chesapeake Energy by 7.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,119,498 shares of the company’s stock valued at $338,582,000 after acquiring an additional 292,586 shares during the last quarter. Kimmeridge Energy Management Company LLC grew its stake in Chesapeake Energy by 28.8% in the 2nd quarter. Kimmeridge Energy Management Company LLC now owns 3,694,879 shares of the company’s stock valued at $303,682,000 after acquiring an additional 827,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Chesapeake Energy by 18.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,333,769 shares of the company’s stock valued at $274,005,000 after acquiring an additional 510,664 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in Chesapeake Energy by 13.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 2,599,352 shares of the company’s stock valued at $230,900,000 after acquiring an additional 307,814 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

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.