Norges Bank Takes Position in Chesapeake Energy Co. (CHK)

Andrew Cummings
March 19, 2017

For 2017 so far, CHK stock is down 22%, despite UBS finding the fourth quarter "mildly encouraging" and upgrading the stock. Wunderlich reaffirmed a "buy" rating and issued a $10.00 target price on shares of Chesapeake Energy in a report on Tuesday, January 24th. NY increased its position in Chesapeake Energy Co.

Several institutional investors have recently made changes to their positions in CHK. Public Employees Retirement System of OH raised its position in shares of Chesapeake Energy by 65.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Chesapeake Energy during the fourth quarter worth approximately $95,716,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Chesapeake Energy during the second quarter valued at about $101,000. 29209340 shares were traded on Chesapeake Energy Corporation's last session. BlackRock Group LTD now owns 2,443,934 shares of the oil and gas exploration company's stock valued at $15,325,000 after buying an additional 303,715 shares during the period. BlackRock Group LTD increased its position in shares of Chesapeake Energy by 14.2% in the third quarter. U.S. Energy Corp. has a 52-week low of 0.75 and a 52-week high of 2.84. Hedge funds and other institutional investors own 66.74% of the company's stock. The growth estimate for the next five years is 5 percent (per annum). (NYSE:CHK) opened at 5.29 on Friday. The Market Cap of the company stands at 4.92 Billion. The company's 50-day moving average price is $5.86 and its 200-day moving average price is $6.47.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings results on Thursday, February 23rd. During the same quarter in the prior year, the business earned ($0.16) EPS. Chesapeake Energy's quarterly revenue was down 23.7% on a year-over-year basis.

Zacks offers analysts with an Average Broker Rating (or ABR), basing it on sell-side recommendations.

A number of research firms have recently weighed in on CHK. Ladenburg Thalmann Financial Services lifted their price target on Chesapeake Energy from $6.00 to $7.50 in a report on Sunday, December 4th.

Chesapeake Energy Corporation's consensus price target is around $7.43 a share. the last five years, the company's full-year sales growth remained over -7.50% a year on average and the company's earnings per share moved down by an average rate of -36.80%. They now have a Dollars 6 price target on the stock.

Growth Estimate for Chesapeake Energy Corporation (NYSE:CHK) is projected at 270 percent in the Current Quarter and 207.1 percent in the Next Quarter, according to analysts. Analysts have a mean recommendation of 2.90 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).

In other news, Director Archie W. Dunham purchased 500,000 shares of the business's stock in a transaction on Wednesday, March 8th. The stock was acquired at an average cost of $5.24 per share, with a total value of $2,620,000.00. Following the transaction, the director now directly owns 4,637,717 shares in the company, valued at $24,301,637.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Price Target is basically a projection of future price of a company's stock by the expert analysis of investment analysts or investment firms.

U.S. Energy Corp. (U.S. Energy) is an independent energy company focused on the acquisition and development of oil and gas producing properties in the continental United States.

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