Natural gas producer Chesapeake Energy Corporation (CHK) on Thursday caught some further positive sentiment from analysts at Jefferies & Co.
The firm maintained its “Buy” rating on the stock,
Jefferies said that the sale of some of the company’s assets in the Marcellus Shale should help bridge the 2012 funding gap. Commenting, the analyst noted that “Progress along this front should result in the stock reflecting more of the upside embedded in CHK’s asset base. An update on the Utica JV should be imminent.”
Chesapeake Energy shares, which have fallen 12.5% year-to-date, rose 18 cents, or +0.8%, in premarket trading Thursday.
The Bottom Line
Shares of Chesapeake Energy (CHK) have a 1.54% dividend yield, based on last night’s closing stock price of $22.66. The stock has technical support in the $18-$20 price area. If the shares can firm up, we see overhead resistance around the $24-$26 price levels.
Chesapeake Energy Corporation (CHK) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
Learn How ›
November 11-12, 2013
New York Marriott Marquis, New York, NY
Get quotes, news and more market data ›
Discover how the financial industry is sparking economic growth and job creation in communities like yours.
Dedicated to fostering knowledge and understanding of the financial markets for individuals of all backgrounds.
Meet with your colleagues in Professional Societies to share best practices, attend educational seminars and engage in peer-to-peer networking.