CHK stock has broken above its 200 day MA for the first time since April 2019, after Barron’s said the stock looks cheap.

Natural gas not gone yet, Chesapeake stock looks cheap, Barron’s says

On October 23, 2021, Chesapeake Energy, the poster child of the U.S. shale revolution, now has the unlikely opportunity to become the standard-bearer for the Shale 3.0 movement, and its stock looks cheap, Nicholas Jasinski writes in this week’s edition of Barron’s. The new Chesapeake is a leaner machine, with the boost of added cash-flow generation from soaring natural gas prices, the author adds. Source: https://www.barrons.com/articles/natural-gas-chesapeake-energy-stock-51634931620?mod=past_editions

Chesapeake initiated with a Buy at UBS

On October 7, 2021, UBS analyst Lloyd Byrne initiated coverage of Chesapeake with a Buy rating and $88 price target. The analyst cites the company’s “quality assets” at a discounted valuation and also believes that its $2.2B acquisition of Vine Energy announced in August improves its upside.

Chesapeake reinstated with an Outperform at BMO Capital

On August 27, 2021, BMO Capital analyst Philip Jungwirth reinstated coverage of Chesapeake with an Outperform rating and $70 price target. The company is well-positioned with revamped capital and operating cost structure along with top-tier Haynesville and Marcellus natural gas assets, the analyst tells investors in a research note. Chesapeake should generate “significant” free cash flow while its stock trades at “depressed” multiples long with much of the sector, Jungwirth adds.

CHK Stock Technical Analysis

CHK has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to set up email alerts for when CHK stock presents a good entry.

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