RBC Capital Downgrades Chesapeake Energy Corporation to Underperform

Brokerage firm RBC Capital Downgrades its rating on Chesapeake Energy Corporation(NYSE:CHK). The shares have been rated Underperform. Previously, the analysts had a Sector Perform rating on the shares. The rating by RBC Capital was issued on Jun 9, 2016.

Chesapeake Energy Corporation (CHK) remained unchanged at the close of Wednesday session. Even as the volume increased to 3,19,47,278 ,the shares failed to make any impression and ended at 0 points or 0.00% at $4.28. The trading session commenced at $4.27 and the stock hit a high of $4.5 and touched $4.23 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $12.68 and the 52-week low is $1.5. The company has a market cap of $2,930 M and has approximately 68,46,06,830 outstanding shares.

Chesapeake Energy Corporation(CHK) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.95B. Analysts had an estimated revenue of $2.55B. Earnings per share were $-0.10. Analysts had estimated an EPS of $-0.10.

Several Insider Transactions has been reported to the SEC. On Nov 20, 2015, Thomas L Ryan (director) purchased 10,000 shares at $5.47 per share price.Also, On Nov 18, 2015, Robert D. Lawler (CEO) purchased 50,000 shares at $5.88 per share price.On Jun 29, 2015, R Brad Martin (director) purchased 10,000 shares at $11.20 per share price, according to the Form-4 filing with the securities and exchange commission.

Chesapeake Energy Corporation is a producer of natural gas oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production and Marketing Gathering and Compression. The exploration and production segment is responsible for finding and producing oil natural gas and NGL. The marketing gathering and compression operating segment is responsible for marketing gathering and compression of oil natural gas and NGL. The Company owns interests in approximately 45100 oil and natural gas wells that produced an average of approximately 729 thousand barrels of oil equivalent (mboe). The Company also own oil and natural gas marketing and natural gas gathering and compression businesses. As of December 31 2014 the Company held an interest in approximately 45100 gross productive wells including 33600 properties in which it held a working interest and 11500 properties in which it held an overriding royalty interest.

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