Sterne Agee Downgrades Chesapeake Energy to “Underperform” (CHK)
Citing poor hedging strategies and the possibility of underwhelming asset sales, analysts at Sterne Agee downgraded Chesapeake Energy Corporation (CHK).
The analysts downgraded CHK from “Neutral” to “Underperform” and see shares reaching $20. This target suggests a 10% downside to Monday’s closing price of $22.17.
Chesapeake Energy shares were down 48 cents, or -2.17%, during morning trading on Tuesday. The stock is down -15% over the past year.
The Bottom Line
Shares of Chesapeake Energy (CHK) have a dividend yield of 1.62% based on Tuesday’s intraday trading price of $21.59 and the company’s annualized dividend payout of 35 cents per share.
Chesapeake Energy Corporation (CHK) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.
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