Stifel Nicolaus Initiates Coverage on Chesapeake Energy Co. (CHK)

Analysts at Stifel Nicolaus assumed coverage on shares of Chesapeake Energy Co. (NYSE:CHK) in a research note issued on Thursday. The firm set a “buy” rating and a $10.00 price target on the oil and gas exploration company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 91.57% from the company’s current price.

A number of other analysts have also recently commented on the company. Jefferies Group LLC reiterated a “hold” rating and set a $6.00 price objective on shares of Chesapeake Energy in a research report on Wednesday, March 22nd. Scotiabank reiterated a “hold” rating and set a $8.00 price objective on shares of Chesapeake Energy in a research report on Tuesday, March 14th. FBR & Co set a $5.00 price objective on Chesapeake Energy and gave the stock a “sell” rating in a research report on Saturday, March 11th. Deutsche Bank AG dropped their price objective on Chesapeake Energy from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Tuesday, March 7th. Finally, Wunderlich set a $10.00 price objective on Chesapeake Energy and gave the stock a “buy” rating in a research report on Sunday, February 26th. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $7.48.

Analyst Recommendations for Chesapeake Energy (NYSE:CHK)

Shares of Chesapeake Energy (NYSE:CHK) opened at 5.22 on Thursday. Chesapeake Energy has a 1-year low of $3.53 and a 1-year high of $8.20. The firm’s market capitalization is $4.62 billion. The company has a 50-day moving average of $5.66 and a 200-day moving average of $6.42.

Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings data on Thursday, February 23rd. The oil and gas exploration company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.09 billion. The company’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) EPS. Equities research analysts predict that Chesapeake Energy will post $0.71 EPS for the current fiscal year.

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In related news, Director Archie W. Dunham acquired 500,000 shares of the stock in a transaction that occurred on Wednesday, March 8th. The stock was purchased at an average cost of $5.24 per share, for a total transaction of $2,620,000.00. Following the purchase, the director now directly owns 4,637,717 shares in the company, valued at $24,301,637.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CHK. Elkhorn Investments LLC bought a new position in shares of Chesapeake Energy during the fourth quarter worth approximately $1,783,000. Norges Bank bought a new position in shares of Chesapeake Energy during the fourth quarter worth approximately $56,791,000. Putnam Investments LLC increased its position in shares of Chesapeake Energy by 6.9% in the fourth quarter. Putnam Investments LLC now owns 15,394 shares of the oil and gas exploration company’s stock worth $108,000 after buying an additional 1,000 shares during the last quarter. Numeric Investors LLC increased its position in shares of Chesapeake Energy by 1,623.1% in the fourth quarter. Numeric Investors LLC now owns 179,200 shares of the oil and gas exploration company’s stock worth $1,258,000 after buying an additional 168,800 shares during the last quarter. Finally, Advantage Investment Management LLC bought a new position in shares of Chesapeake Energy during the fourth quarter worth approximately $316,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.

5 Day Chart for NYSE:CHK

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