$1.02 Billion in Sales Expected for Chesapeake Energy Co. (CHK) This Quarter

Analysts expect Chesapeake Energy Co. (NYSE:CHK) to report sales of $1.02 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Chesapeake Energy’s earnings, with the highest sales estimate coming in at $1.04 billion and the lowest estimate coming in at $1.01 billion. Chesapeake Energy reported sales of $1.26 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 19%. The firm is expected to report its next quarterly earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Chesapeake Energy will report full year sales of $4.58 billion for the current fiscal year, with estimates ranging from $4.44 billion to $4.76 billion. For the next financial year, analysts expect that the company will post sales of $5.36 billion, with estimates ranging from $5.20 billion to $5.59 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Chesapeake Energy.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Chesapeake Energy had a negative return on equity of 54.07% and a net margin of 6.91%. The company’s revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS.

A number of equities analysts have recently weighed in on the company. SunTrust Banks cut Chesapeake Energy from a “buy” rating to a “hold” rating in a report on Monday, September 24th. They noted that the move was a valuation call. Wolfe Research cut Chesapeake Energy from a “peer perform” rating to an “underperform” rating in a report on Thursday, August 16th. Citigroup increased their price target on Chesapeake Energy from $2.50 to $3.50 and gave the stock a “sell” rating in a report on Monday, July 30th. Credit Suisse Group set a $3.00 price target on Chesapeake Energy and gave the stock a “sell” rating in a report on Wednesday, October 31st. Finally, Susquehanna Bancshares raised Chesapeake Energy from a “neutral” rating to a “positive” rating and set a $5.00 target price on the stock in a research note on Wednesday, October 31st. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Chesapeake Energy currently has a consensus rating of “Hold” and an average price target of $5.15.

NYSE CHK opened at $3.15 on Friday. The firm has a market cap of $2.98 billion, a PE ratio of 3.84, a price-to-earnings-growth ratio of 0.40 and a beta of 1.93. Chesapeake Energy has a twelve month low of $2.53 and a twelve month high of $5.60.

In other news, EVP James R. Webb bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were purchased at an average price of $3.54 per share, with a total value of $177,000.00. Following the purchase, the executive vice president now owns 871,548 shares in the company, valued at $3,085,279.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. River & Mercantile Asset Management LLP raised its position in Chesapeake Energy by 7.3% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 1,600,864 shares of the oil and gas exploration company’s stock valued at $8,381,000 after purchasing an additional 109,348 shares in the last quarter. Principal Financial Group Inc. raised its position in Chesapeake Energy by 181.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,972,965 shares of the oil and gas exploration company’s stock valued at $11,998,000 after purchasing an additional 2,561,947 shares in the last quarter. Meeder Asset Management Inc. raised its position in Chesapeake Energy by 8,898.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 127,147 shares of the oil and gas exploration company’s stock valued at $570,000 after purchasing an additional 125,734 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Chesapeake Energy by 262.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 353,215 shares of the oil and gas exploration company’s stock valued at $1,851,000 after purchasing an additional 255,677 shares in the last quarter. Finally, ING Groep NV raised its position in Chesapeake Energy by 20.0% in the 2nd quarter. ING Groep NV now owns 487,665 shares of the oil and gas exploration company’s stock valued at $2,555,000 after purchasing an additional 81,363 shares in the last quarter. 59.55% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.

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Earnings History and Estimates for Chesapeake Energy (NYSE:CHK)

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