CHK - Chesapeake Energy stock closes in green and snaps an eight-day losing streak

Chesapeake Energy ( NASDAQ: CHK ) stock closed positively on Monday, snapping an eight-day slump during which it lost 7.1%....

Shares of the U.S. oil and gas producer closed +2.86% at $84.78, well above its 52-week low of $72.73. The stock has gained 3.73% in the last 12 months.

CHK has closed in the green for four trading days in June so far. During the month of May, it closed positively for 10 out of 22 sessions.

Looking at Seeking Alpha's Quant Ratings, the Oklahoma City, Oklahoma-based energy company has a Hold rating with a score of 2.90 out of 5. The company received a B+ for profitability and a D- for its growth prospects. The stock also got a C for its valuation compared to an A six months ago.

Turning to the Wall Street community , about 10 of 17 analysts in the last 90 days gave the stock a Buy or higher recommendation, with the remaining of the 7 recommending a Hold.

Seeking Alpha analysts are optimistic and see the stock as a Buy.

Chesapeake Energy missed estimates in its quarterly earnings in April as natural gas prices fell about 20% during the period. The company had also begun layoffs in May after divesting its Eagle Ford assets in 2023.

An analysis by Elephant Analytics reads , "The main value is in the $400 million per year in estimated cost savings." It added that if the projected synergies from the Chesapeake and Southwestern merger are mostly or fully realized, the cost savings would increase estimates of Chesapeake's value to $96 per share.

More on Chesapeake Energy

• Chesapeake Energy Corporation (CHK) Presents at JPMorgan Energy, Power and Renewables Conference Call Transcript
• Chesapeake Energy Corporation (CHK) Q1 2024 Earnings Call Transcript
• Chesapeake Energy traded in the red for seventh consecutive day
• Chesapeake Energy begins cutting jobs as weak natgas prices slow production