Bidness Energy - Chesapeake Witnesses Fall In Debt Value By 2.8%

The oil field services providing company has received a downfall in the debt value in the recent trade the firm went through.

Chesapeake Energy Company has recently received a dip in the debt value of the stock recorded in the last session of trade that it went through. According to the last session on the stock index that the energy firm was seen doing on Thursday, the debt issue that has a decreased value now also possesses a high yield value which a coupon of 5.375 percent and is scheduled to get mature on June 15, 2021. On the other hand, the bonds that have been issued to the buyers have been valued up to $99.00. This shows a rise in the value as only a few days ago; the value was trading at $98.50.

Some equity firms have been analyzing the stock position of Chesapeake closely and have come to the conclusion of giving a mixed opinion on the oil stock. JPMorgan Chase has analysts who have made coverage on the oil digging company’s stock in a report presented by them on May 21, 2015. As per the report contents, the oil firm has been granted a rating of ‘neutral’ along with a target set on the shares at $14.00. On the other hand, Goldman Sachs also has been looking at the stock closely and has come to conclusion to give it a ‘neutral’ rating as well, a rating downgraded by a previous ‘buy’ rating. The price target has also been decreased by the same analysts to $16.00 while previously it was $19.00. This research has been made on May 18, and the analysis shows that Sachs analysts are not too bullish about the near-term future of Chesapeake oil company.

Moreover, a downgrade has been witnessed in the expectations even by the analysts at TheStreet, who have given Chesapeake stock a ‘sell’ rating, showing their utmost bearish stance on the company. As for SunTrust, the shares of the energy company have also been granted a ‘neutral’ rate which has been taken as a downgrade keeping in mind the previous rating was set at a rating of a ‘buy’. The target that has been set for near future has also been decreased by a massive difference coming around at $14.00, from a previous target of $25.00. This analysis report was submitted by the analysts on May 6, 2015.

On a consensus level, the average analyst has granted a ‘hold’ rating to the oil field services providing company along with a price target of $18.97. In the last session of trade, Chesapeake was seen to trade downwards by a massive 4.81 percent.