Chesapeake Energy Receives a Sell from Nomura Holdings

Nomura Holdings analyst Lloyd Byrne reiterated a Sell rating on Chesapeake Energy (NYSE: CHK) today and set a price target of $4. The company’s shares closed last Friday at $6.27.

According to TipRanks.com, Byrne is a 5-star analyst with an average return of 17.6% and a 81.8% success rate. Byrne covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp., Continental Resources, and Range Resources Corp.

Chesapeake Energy has an analyst consensus of Hold, with a price target consensus of $4.80.

Based on Chesapeake Energy`s latest earnings report from March 31, the company posted quarterly revenue of $1.95B and quarterly net profit of -$921M. In comparison, last year the company earned revenue of $2.89B and had a net profit of -$4.65B.

Based on the recent corporate insider activity of 68 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. Most recently, in June 2015, Brad R. Martin, a a Director at CHK bought 10,000 shares for a total of $111,900.

Chesapeake Energy Corp. engages as a natural gas and oil exploration and production company. It operates through the Exploration and Production; Marketing, Gathering and Compression segments. The Exploration and Production segment focuses on finding and producing natural gas, oil and natural gas liquids. The Marketing, Gathering, and Compression segment deals with the marketing, gathering, and compression of natural gas, oil, and natural gas liquids primarily from Chesapeake-operated wells. The company was founded by Aubrey K. McClendon and Tom L. Ward on May 18, 1989 and is headquartered in Oklahoma City, OK.