Royal Bank of Canada Forecasts Strong Price Appreciation for Chesapeake Energy (NASDAQ:EXE) Stock

Chesapeake Energy (NASDAQ:EXE) had its price objective hoisted by research analysts at Royal Bank of Canada from $102.00 to $116.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 16.35% from the stock’s current price.

EXE has been the topic of a number of other research reports. Bank of America initiated coverage on Chesapeake Energy in a research note on Monday, October 28th. They issued a “buy” rating and a $114.00 price objective on the stock. UBS Group upped their price target on Chesapeake Energy from $85.00 to $89.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Stephens upped their price target on Chesapeake Energy from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho upped their price target on Chesapeake Energy from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Citigroup upped their price target on Chesapeake Energy from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Chesapeake Energy currently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

Chesapeake Energy Price Performance

Shares of NASDAQ EXE traded down $1.27 during trading hours on Friday, hitting $99.70. 1,171,960 shares of the company’s stock were exchanged, compared to its average volume of 2,082,106. Chesapeake Energy has a 1-year low of $69.12 and a 1-year high of $101.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market capitalization of $23.03 billion, a PE ratio of 61.47 and a beta of 0.46.

Chesapeake Energy (NASDAQ:EXE) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.01 by $0.15. The firm had revenue of $648.00 million during the quarter, compared to analysts’ expectations of $708.98 million. Chesapeake Energy had a return on equity of 2.74% and a net margin of 6.07%. The company’s revenue for the quarter was down 57.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 EPS. Research analysts anticipate that Chesapeake Energy will post 0.86 EPS for the current year.

About Chesapeake Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.