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Wells Fargo Maintains Their Buy Rating on Chesapeake Energy (CHK)

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In a report released today, Nitin Kumar CFA from Wells Fargo maintained a Buy rating on Chesapeake Energy (CHKResearch Report), with a price target of $98.00. The company’s shares closed last Friday at $80.55.

According to TipRanks.com, CFA is a 5-star analyst with an average return of 35.8% and a 87.6% success rate. CFA covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Northern Oil And Gas.

Chesapeake Energy has an analyst consensus of Strong Buy, with a price target consensus of $94.43, implying a 17.2% upside from current levels. In a report issued on March 8, RBC Capital also maintained a Buy rating on the stock with a $98.00 price target.

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Chesapeake Energy’s market cap is currently $9.43B and has a P/E ratio of 1.30.

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Chesapeake Energy Corp is a US-based exploration and production company. It is engaged in the acquisition, exploration, and development of properties for the production of oil, natural gas and natural gas liquids from underground reservoirs. Geographically, the company focuses its exploration, development, acquisition and production efforts in the operating areas of Marcellus, Northern Appalachian Basin in Pennsylvania; Haynesville, Northwestern Louisiana and East Texas (Gulf Coast); Eagle Ford, South Texas; Utica, Southern Appalachian Basin in Ohio; Mid-Continent, Anadarko Basin in northwestern Oklahoma; and Powder River Basin, Stacked pay in Wyoming.

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