Chesapeake Energy CHK stock confirmed a Resurrection CrossWhen the 50 day moving average crosses above the 200 day moving average, it is called a Resurrection Cross. Conversely, when the 50 day moving average crosses below the 200 day mov... on September 6, 2023. Chesapeake is one of many energy stocks that have formed bullish chart patterns over the last week. CHK stock has a technical strong uptrend rating.
Chesapeake Energy is an American company primarily engaged in the exploration, development, and production of oil and natural gas. The company focuses on acquiring and developing properties in unconventional resource plays, mainly including shale gas and oil fields. Chesapeake Energy operates primarily in the United States and has significant operations in major shale basins such as the Eagle Ford, Haynesville, Utica, and Marcellus. The company’s activities involve drilling and completing wells, as well as operating and maintaining production facilities to extract and produce oil and gas from these resources.
Chesapeake price target raised at Wells Fargo
Wells Fargo maintained an Equal Weight rating on Chesapeake’s stock on September 1, 2023, and increased the price target from $85 to $89 for the company. According to Wells Fargo, upward revisions to its oil decks for the second half of 2023 and 2024 have increased earnings projections for the majority of its oil coverage. Lower estimates for the majority of Wells’ gas coverage in 2025 were also a result of its gas deck’s downward revision.
