Chaparral Energy (CHAP) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Chaparral Energy (NYSE:CHAP) from a hold rating to a buy rating in a research note released on Thursday morning. Zacks Investment Research currently has $9.75 price objective on the stock.

According to Zacks, “Chaparral Energy, Inc. engages in the oil and natural gas exploration and production. It focuses on deposits of Stack, Meramec and Osage, Oswego, and Woodford located in Oklahoma and the Texas Panhandle. Chaparral Energy, Inc. is headquartered in Oklahoma City, OK. “

A number of other equities research analysts have also weighed in on the stock. ValuEngine lowered shares of Chaparral Energy from a hold rating to a sell rating in a report on Saturday, December 1st. Stifel Nicolaus reaffirmed a buy rating and set a $23.00 price target on shares of Chaparral Energy in a report on Tuesday, November 27th.

CHAP opened at $7.50 on Thursday. Chaparral Energy has a twelve month low of $8.65 and a twelve month high of $25.85. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

Chaparral Energy (NYSE:CHAP) last released its quarterly earnings results on Tuesday, November 13th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. The business had revenue of $66.72 million during the quarter, compared to analyst estimates of $58.57 million. Chaparral Energy had a negative net margin of 57.97% and a negative return on equity of 10.87%. On average, sell-side analysts expect that Chaparral Energy will post 0.65 EPS for the current fiscal year.

In other news, CEO Kermit Earl Reynolds purchased 4,030 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was acquired at an average cost of $12.31 per share, with a total value of $49,609.30. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

A number of hedge funds and other institutional investors have recently bought and sold shares of CHAP. Tower Research Capital LLC TRC bought a new position in Chaparral Energy during the 3rd quarter valued at $272,000. Bank of New York Mellon Corp bought a new position in Chaparral Energy during the 3rd quarter valued at $356,000. Q Global Advisors LLC bought a new position in Chaparral Energy during the 3rd quarter valued at $441,000. Jane Street Group LLC bought a new position in Chaparral Energy during the 3rd quarter valued at $546,000. Finally, Virtu Financial LLC bought a new position in Chaparral Energy during the 3rd quarter valued at $869,000. Hedge funds and other institutional investors own 73.52% of the company’s stock.

About Chaparral Energy

Chaparral Energy, Inc engages in the acquisition, exploration, development, production, and operation of onshore oil and natural gas properties primarily in Oklahoma, the United States. The company sells crude oil, natural gas, and natural gas liquids primarily to refineries and gas processing plant.

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