Chesapeake Energy (CHK) Bonds Drop 3% During Trading

An issue of Chesapeake Energy Co. (NYSE:CHK) debt fell 3% against its face value during trading on Wednesday. The debt issue has a 8% coupon and will mature on June 15, 2027. The bonds in the issue are now trading at $95.50 and were trading at $99.00 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its share price.

Several analysts have recently commented on the company. BMO Capital Markets set a $4.00 price target on Chesapeake Energy and gave the company a “hold” rating in a report on Tuesday, November 14th. SunTrust Banks reissued a “buy” rating and issued a $6.00 price target on shares of Chesapeake Energy in a report on Wednesday, January 3rd. Scotiabank set a $4.00 price target on Chesapeake Energy and gave the company a “hold” rating in a report on Wednesday, November 22nd. ValuEngine cut Chesapeake Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $5.00 price target on shares of Chesapeake Energy in a report on Tuesday, January 9th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $5.29.

Shares of Chesapeake Energy Co. (CHK) traded up $0.03 during mid-day trading on Friday, reaching $2.85. The company had a trading volume of 66,357,960 shares, compared to its average volume of 35,850,000. The firm has a market capitalization of $2,590.00, a PE ratio of -4.91 and a beta of 1.83. Chesapeake Energy Co. has a 52-week low of $2.53 and a 52-week high of $6.59. The company has a debt-to-equity ratio of -4.17, a quick ratio of 0.53 and a current ratio of 0.53.

Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC raised its holdings in Chesapeake Energy by 42.6% during the second quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock worth $116,000 after purchasing an additional 7,000 shares during the last quarter. Gotham Asset Management LLC acquired a new position in Chesapeake Energy during the second quarter worth $126,000. Sapphire Star Partners LP acquired a new position in Chesapeake Energy during the third quarter worth $143,000. Thrivent Financial For Lutherans raised its holdings in Chesapeake Energy by 4.2% during the second quarter. Thrivent Financial For Lutherans now owns 30,015 shares of the oil and gas exploration company’s stock worth $149,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Brave Asset Management Inc. raised its holdings in Chesapeake Energy by 154.2% during the third quarter. Brave Asset Management Inc. now owns 38,130 shares of the oil and gas exploration company’s stock worth $164,000 after purchasing an additional 23,130 shares during the last quarter. 63.80% of the stock is owned by hedge funds and other institutional investors.

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About Chesapeake Energy

Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.

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