Oppenheimer Lowers Chesapeake Energy to Outperform (NYSE:CHK)
Posted by Masoud Bidgoli on Jan 1st, 2015 Chesapeake Energy Co. logoOppenheimer downgraded shares of Chesapeake Energy (NYSE:CHK) to an outperform rating in a research note released on Tuesday morning.
A number of other analysts have also recently weighed in on CHK. Analysts at Wunderlich set a $24.00 price target on shares of Chesapeake Energy in a research note on Wednesday, December 24th. They now have a buy rating on the stock. Separately, analysts at Capital One Financial Corp. upgraded shares of Chesapeake Energy from an underweight rating to an equal weight rating in a research note on Wednesday, December 24th. Finally, analysts at Barclays cut their price target on shares of Chesapeake Energy from $27.00 to $18.00 in a research note on Tuesday, December 16th. They now have an equal weight rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $29.00.
Shares of Chesapeake Energy (NYSE:CHK) opened at 19.57 on Tuesday. Chesapeake Energy has a 52-week low of $16.41 and a 52-week high of $29.92. The stock has a 50-day moving average of $20.40 and a 200-day moving average of $23.98. The company has a market cap of $12.778 billion and a P/E ratio of 24.25. Chesapeake Energy also saw a large increase in short interest in December. As of December 15th, there was short interest totalling 53,898,456 shares, an increase of 25.2% from the November 28th total of 43,049,090 shares. Approximately 8.2% of the company’s stock are sold short. Based on an average daily volume of 15,813,561 shares, the short-interest ratio is presently 3.4 days.
Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.05. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. On average, analysts predict that Chesapeake Energy will post $1.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, January 31st. Shareholders of record on Thursday, January 15th will be given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, January 13th.
Chesapeake Energy Corporation (NYSE:CHK) is a natural gas and oil exploration and production company.
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