Brokers Issue Forecasts for Chesapeake Energy Co.’s Q3 2020 Earnings (NYSE:CHK)

Chesapeake Energy Co. (NYSE:CHK) – Equities researchers at Capital One Financial issued their Q3 2020 earnings per share estimates for shares of Chesapeake Energy in a note issued to investors on Wednesday, June 24th. Capital One Financial analyst P. Johnston expects that the oil and gas exploration company will post earnings per share of ($25.09) for the quarter. Capital One Financial also issued estimates for Chesapeake Energy’s Q4 2020 earnings at ($23.52) EPS.

Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data on Monday, May 11th. The oil and gas exploration company reported $14.87 EPS for the quarter, beating the Zacks’ consensus estimate of ($16.43) by $31.30. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.06 billion. Chesapeake Energy had a negative net margin of 96.80% and a negative return on equity of 30.44%.

A number of other analysts have also recently weighed in on the stock. LADENBURG THALM/SH SH cut shares of Chesapeake Energy from a “neutral” rating to a “sell” rating in a research note on Thursday, April 16th. ValuEngine raised shares of Chesapeake Energy from a “buy” rating to a “strong-buy” rating in a report on Friday, May 1st. Piper Sandler lowered shares of Chesapeake Energy from a “neutral” rating to an “underweight” rating in a report on Monday, March 9th. Cfra reaffirmed a “strong sell” rating on shares of Chesapeake Energy in a report on Tuesday, May 12th. Finally, Raymond James downgraded shares of Chesapeake Energy from a “market perform” rating to an “underperform” rating in a research report on Monday, March 9th. Nine investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. Chesapeake Energy has an average rating of “Hold” and a consensus target price of $216.67.

NYSE CHK opened at $11.85 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.28. The stock has a market capitalization of $115.89 million, a PE ratio of -0.01 and a beta of 1.80. The company has a 50 day moving average price of $15.39 and a two-hundred day moving average price of $6.69. Chesapeake Energy has a 12-month low of $7.77 and a 12-month high of $430.00.

Several large investors have recently made changes to their positions in the stock. Voloridge Investment Management LLC acquired a new stake in shares of Chesapeake Energy in the 1st quarter valued at approximately $388,000. Jane Street Group LLC increased its stake in Chesapeake Energy by 1,198.4% during the 1st quarter. Jane Street Group LLC now owns 1,608,725 shares of the oil and gas exploration company’s stock worth $278,000 after purchasing an additional 1,484,828 shares in the last quarter. Two Sigma Investments LP increased its stake in Chesapeake Energy by 901.7% during the 1st quarter. Two Sigma Investments LP now owns 484,332 shares of the oil and gas exploration company’s stock worth $84,000 after purchasing an additional 435,979 shares in the last quarter. Geode Capital Management LLC increased its stake in Chesapeake Energy by 5.0% during the 1st quarter. Geode Capital Management LLC now owns 13,761,678 shares of the oil and gas exploration company’s stock worth $2,376,000 after purchasing an additional 658,707 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Chesapeake Energy by 10.1% during the 1st quarter. Legal & General Group Plc now owns 2,692,604 shares of the oil and gas exploration company’s stock worth $465,000 after purchasing an additional 247,604 shares in the last quarter.

About Chesapeake Energy

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.

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

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