Chesapeake Energy Corp. (NYSE:CHK) was upgraded by equities researchers at Sterne Agee from an “underperform” rating to a “neutral” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports.
The analysts wrote, “We upgrade CHK shares to Neutral from Underperform and remove our $20 PT on the heels of strong operating results, fading near-term liquidity risks and new hedges that provide CF visibility through 2014. While we continue to see some risks to 2014 growth, given the need for additional asset sales, new CEO Lawler is showing early success on capital efficiency initiatives, evidenced by strong earnings growth with lower capital intensity.”
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital reiterated a “sector perform” rating on shares of Chesapeake Energy Corp. in a research note to investors on Tuesday, July 9th. They now have a $21.00 price target on the stock. Separately, analysts at Wunderlich reiterated a “buy” rating on shares of Chesapeake Energy Corp. in a research note to investors on Friday, July 5th. Finally, analysts at Macquarie reiterated a “neutral” rating on shares of Chesapeake Energy Corp. in a research note to investors on Thursday, July 4th. They now have a $19.00 price target on the stock.
Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.85.
Shares of Chesapeake Energy Corp. (NYSE:CHK) traded up 6.09% during mid-day trading on Thursday, hitting $24.72. Chesapeake Energy Corp. has a 52 week low of $16.23 and a 52 week high of $23.54. The stock’s 50-day moving average is currently $21.3. The company’s market cap is $16.031 billion.
Chesapeake Energy Corp. (NYSE:CHK) last announced its earnings results on Thursday, August 1st. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.25. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 37.9% on a year-over-year basis. On average, analysts predict that Chesapeake Energy Corp. will post $1.52 earnings per share for the current fiscal year.
Chesapeake Energy Corporation (NYSE:CHK) is a natural gas and oil exploration and production company.