Chesapeake Energy (NASDAQ:EXE) Coverage Initiated at Piper Sandler

Equities researchers at Piper Sandler started coverage on shares of Chesapeake Energy (NASDAQ:EXE) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set a “neutral” rating and a $96.00 price target on the stock. Piper Sandler’s price objective indicates a potential downside of 6.41% from the company’s current price.

Several other brokerages have also recently issued reports on EXE. Mizuho lifted their price objective on Chesapeake Energy from $110.00 to $128.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Bank of America initiated coverage on Chesapeake Energy in a research note on Monday, October 28th. They issued a “buy” rating and a $114.00 price objective for the company. Morgan Stanley initiated coverage on Chesapeake Energy in a research note on Friday, January 10th. They issued an “overweight” rating and a $127.00 price objective for the company. Citigroup lifted their price objective on Chesapeake Energy from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. initiated coverage on Chesapeake Energy in a research note on Thursday, January 16th. They issued an “overweight” rating and a $112.00 price objective for the company. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chesapeake Energy currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Chesapeake Energy Price Performance

Shares of Chesapeake Energy stock opened at $102.57 on Tuesday. The firm’s 50-day moving average price is $100.22. Chesapeake Energy has a 12 month low of $69.12 and a 12 month high of $109.47. The stock has a market cap of $23.70 billion, a PE ratio of 63.31 and a beta of 0.52. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.20.

Chesapeake Energy (NASDAQ:EXE) last announced its 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. Chesapeake Energy had a return on equity of 2.74% and a net margin of 6.07%. The company had revenue of $648.00 million during the quarter, compared to analysts’ expectations of $708.98 million. During the same period last year, the business posted $1.09 EPS. Chesapeake Energy’s revenue for the quarter was down 57.1% on a year-over-year basis. Equities research analysts anticipate that Chesapeake Energy will post 1.32 earnings per share for the current year.

Insiders Place Their Bets

In other Chesapeake Energy news, Director Catherine A. Kehr sold 43,623 shares of Chesapeake Energy stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $99.58, for a total transaction of $4,343,978.34. Following the transaction, the director now owns 5,201 shares of the company’s stock, valued at $517,915.58. The trade was a 89.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 58.00% of the stock is currently owned by corporate insiders.

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.