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

Chesapeake Energy (NASDAQ:CHK) had its target price raised by research analysts at Wells Fargo & Company from $77.00 to $83.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 2.00% from the stock’s previous close.

CHK has been the subject of a number of other reports. Truist Financial cut their target price on Chesapeake Energy from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Monday. Wolfe Research started coverage on Chesapeake Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $110.00 target price for the company. Roth Capital raised Chesapeake Energy to a “strong-buy” rating in a research note on Friday. KeyCorp began coverage on Chesapeake Energy in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Finally, Scotiabank lowered their price target on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Chesapeake Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.92.

Chesapeake Energy Stock Performance

Shares of NASDAQ CHK traded down $0.88 during trading hours on Tuesday, reaching $81.37. The stock had a trading volume of 2,027,103 shares, compared to its average volume of 1,977,065. The firm has a 50-day moving average of $74.44 and a 200-day moving average of $82.61. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 10.98 and a beta of 0.46. Chesapeake Energy has a fifty-two week low of $69.12 and a fifty-two week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $505.00 million for the quarter, compared to analysts’ expectations of $822.54 million. Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The firm’s revenue was down 73.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. Equities research analysts predict that Chesapeake Energy will post 1.43 earnings per share for the current year.

Institutional Investors Weigh In On Chesapeake Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CHK. Allspring Global Investments Holdings LLC acquired a new position in Chesapeake Energy in the first quarter valued at $37,000. BOKF NA acquired a new position in Chesapeake Energy in the first quarter valued at $45,000. GAMMA Investing LLC boosted its holdings in Chesapeake Energy by 75.6% in the second quarter. GAMMA Investing LLC now owns 569 shares of the company’s stock valued at $47,000 after acquiring an additional 245 shares during the last quarter. Blue Trust Inc. boosted its holdings in Chesapeake Energy by 895.6% in the second quarter. Blue Trust Inc. now owns 677 shares of the company’s stock valued at $60,000 after acquiring an additional 609 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in Chesapeake Energy by 1,384.8% in the second quarter. Mather Group LLC. now owns 683 shares of the company’s stock valued at $61,000 after acquiring an additional 637 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Company Profile

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.