Chesapeake Energy Receives a Hold from Scotiabank

By Carrie Williams

In a report released yesterday, Peter Kissel from Scotiabank maintained a Hold rating on Chesapeake Energy (NYSE: CHK), with a price target of $5. The company’s shares opened today at $5.

According to TipRanks.com, Kissel is ranked 0 out of 5 stars with an average return of -15.7% and a 22.4% success rate. Kissel covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, National Fuel Gas Company, and Evolution Petroleum Corp.

Currently, the analyst consensus on Chesapeake Energy is Hold and the average price target is $5.94, representing a 18.8% upside.

In a report issued on June 26, BMO Capital also reiterated a Hold rating on the stock with a $3 price target.

Based on Chesapeake Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.43 billion and quarterly net profit of $139 million. In comparison, last year the company earned revenue of $2.1 billion and had a GAAP net loss of $1.75 billion.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CHK in relation to earlier this year.

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Chesapeake Energy Corp. engages as a natural gas and oil exploration and production company. It operates through the following segments: Exploration and Production; and Marketing, Gathering and Compression. The Exploration and Production segment focuses on finding and producing natural gas, oil and natural gas liquids.