Chesapeake Energy (NYSE:CHK) Sees Unusually-High Trading Volume

Chesapeake Energy Co. (NYSE:CHK) saw an uptick in trading volume on Monday . 254,791,190 shares changed hands during mid-day trading, an increase of 422% from the previous session’s volume of 48,844,512 shares.The stock last traded at $2.06 and had previously closed at $1.78.

CHK has been the subject of several analyst reports. Morgan Stanley raised shares of Chesapeake Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $1.94 to $2.75 in a research note on Friday, June 28th. Raymond James downgraded shares of Chesapeake Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 8th. SunTrust Banks set a $2.00 target price on shares of Chesapeake Energy and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, UBS Group set a $2.00 price target on Chesapeake Energy and gave the stock a “sell” rating in a report on Thursday, June 20th. Nine investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Chesapeake Energy currently has a consensus rating of “Hold” and an average price target of $3.38.

The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 2.29 and a beta of 2.47. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.62 and a quick ratio of 0.62. The business has a fifty day moving average price of $1.55 and a 200 day moving average price of $2.24.

Chesapeake Energy (NYSE:CHK) last released its earnings results on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $1.17 billion. Chesapeake Energy had a return on equity of 90.53% and a net margin of 6.70%. Chesapeake Energy’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 earnings per share. Research analysts anticipate that Chesapeake Energy Co. will post -0.26 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in CHK. Cresset Asset Management LLC acquired a new position in shares of Chesapeake Energy in the 2nd quarter valued at $30,000. Cedar Brook Financial Partners LLC acquired a new position in shares of Chesapeake Energy in the 1st quarter valued at $31,000. Moneta Group Investment Advisors LLC boosted its position in shares of Chesapeake Energy by 169.7% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 44,378 shares of the oil and gas exploration company’s stock valued at $32,000 after purchasing an additional 27,926 shares during the period. IFG Advisory LLC acquired a new position in shares of Chesapeake Energy in the 1st quarter valued at $34,000. Finally, Howard Financial Services LTD. boosted its position in shares of Chesapeake Energy by 75.0% in the 2nd quarter. Howard Financial Services LTD. now owns 17,500 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 7,500 shares during the period. 68.78% of the stock is currently owned by hedge funds and other institutional investors.

About Chesapeake Energy (NYSE:CHK)

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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

Featured Story: Coverage Ratio

Receive News & Ratings for Chesapeake Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Energy and related companies with MarketBeat.com's FREE daily email newsletter.