Chesapeake Energy (NASDAQ:CHK) Price Target Cut to $96.00 by Analysts at Truist Financial

Chesapeake Energy (NASDAQ:CHK) had its price objective lowered by stock analysts at Truist Financial from $108.00 to $96.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 17.85% from the stock’s previous close.

CHK has been the subject of a number of other reports. Roth Mkm began coverage on shares of Chesapeake Energy in a research note on Friday, September 27th. They set a “buy” rating and a $92.00 price objective for the company. KeyCorp started coverage on shares of Chesapeake Energy in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. UBS Group reduced their target price on Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Wolfe Research started coverage on Chesapeake Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $110.00 price target for the company. Finally, Mizuho dropped their price objective on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.92.

Chesapeake Energy Stock Performance

Shares of CHK opened at $81.46 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The stock has a market cap of $10.68 billion, a P/E ratio of 10.98 and a beta of 0.46. The business’s 50 day moving average price is $74.47 and its 200-day moving average price is $82.59. Chesapeake Energy has a 52 week low of $69.12 and a 52 week high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last released 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 company had revenue of $505.00 million during the quarter, compared to analysts’ expectations of $822.54 million. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s revenue was down 73.3% on a year-over-year basis. Equities research analysts anticipate that Chesapeake Energy will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Chesapeake Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position 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 valued at $804,769,000 after buying an additional 6,338,963 shares in the last quarter. Kimmeridge Energy Management Company LLC lifted its holdings in Chesapeake Energy by 28.8% during the second quarter. Kimmeridge Energy Management Company LLC now owns 3,694,879 shares of the company’s stock valued at $303,682,000 after purchasing an additional 827,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Chesapeake Energy by 18.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,333,769 shares of the company’s stock worth $274,005,000 after purchasing an additional 510,664 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Chesapeake Energy by 247.9% in the second quarter. 1832 Asset Management L.P. now owns 687,954 shares of the company’s stock worth $56,543,000 after purchasing an additional 490,201 shares in the last quarter. Finally, Scout Investments Inc. purchased a new position in shares of Chesapeake Energy during the 4th quarter valued at $32,079,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

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.