Analysis: Chesapeake Energy Corporation (NYSE:CHK) Target Change Today
In a comprehensive report issued to clients and investors by Barclays Capital on Tuesday, 8 December, the firm, Chesapeake Energy Corporation (NYSE:CHK), had their price target downgraded to $3.00. Analusts at present have a solid “Underweight” rating on the stock.
From a total of 26 analysts covering Chesapeake Energy Corporation (NYSE:CHK) stock, 3 rate it a ”Buy”, 8 a “Sell”, and 21 a ”Hold”. This means that 9% of the ratings are positive. The highest target price is $13 while the lowest target price is $3. The mean of all analyst targets is $8.04 with a 103.64% above today’s ($4.4) stock price. Chesapeake Energy Corporation was the topic of 27 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Sterne Agee CRT downgraded shares on November 17 to “Neutral” rating. BMO Capital Markets maintained shares with “Market Perform” rating and $9.0 target share price in a report from a September 4. SunTrust maintained CHK stock in a recent report from October 19 with “Buy” rating. RBC Capital Markets maintained the rating on August 11. RBC Capital Markets has a “Sector Perform” rating and a $14 price target on shares. Finally, Citigroup maintained the stock with “Neutral” rating in a report issued on a September 14.
The stock increased 3.04% or $0.13 during the last trading session, striking $4.4. Approximately shares of stock traded hands. Chesapeake Energy Corporation (NYSE:CHK) has declined 70.11% since May 6, 2015 and is downtrending. It has underperformed by 69.31% the S&P500.
The overall sentiment of institutions has decreased to 0.95 in Q2 2015. Its down 0.05, from 1 in 2015Q2. The ratio dived, as 100 institutions have sold all the shares of Chesapeake Energy Corporation that they owned while 158 funds have taken shares off the table. 60 funds have purchased shares for the first time while 186 added to their positions. These institutions now hold 625.58 million shares or 3.70% more than the 603.23 million shares they owned in 2015Q2.
The Fund Old West Investment Management Llc currently is holding shares equating to 4.66% of its total portfolio in Chesapeake Energy Corporation representing a total of 836,246 shares. Another fund,Raffles Associates Lp, is holding a total of 530,000 shares equating to 4.08% of their holdings. Additionally, Robertson Opportunity Capital Llc has a 483,574 share stake in Chesapeake Energy Corporation which represents 3.73% of their total portfolio. The Fund, Schneider Capital Management Corp, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 3.62% of their total portfolio. Finally Southeastern Asset Management Inc Tn, a fund which is based in the state of Tennessee reported a total holdings of 57.91 million shares.
Chesapeake Energy Corporation is a producer of natural gas, oil and natural gas liquids in the United States. The company has a market cap of $2.84 billion. The Firm operates in two divisions: Exploration and Production, and Marketing, Gathering and Compression. It currently has negative earnings. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.
According to Zacks Investment Research, “Chesapeake Energy Corp. is an independent oil and gas company engaged in the development, exploration, acquisition and production of onshore natural gas and oil reserves. Chesapeake owns interests in producing oil and gas wells concentrated in three primary operating areas: the Mid-Continent region of Oklahoma, western Arkansas, southwestern Kansas and the Texas Panhandle; the Gulf Coast region consisting primarily of the Austin Chalk Trend in Texas and Louisiana and the Tuscaloosa Trend in Louisiana; and the Helmet area of northeastern British Columbia.” Get a free copy of the Zacks research report on Chesapeake Energy Corporation (CHK).