Chesapeake Energy: Now On Track to Increase Production
booz allen hamilton, chesapeake energy: In a research note to clients, analyst Stephen Richardson downgraded Chesapeake to “equal-weight” from “overweight.”
A Morgan Stanley analyst lowered his rating Monday on Chesapeake Energy Corp., saying it is on track to deliver production growth but there are few “company-specific catalysts” that could move the stock price.
Chesapeake is on track to increase production by 8 percent to 10 percent this year, he said.
“The company is highly levered to the natural gas strip and the Big 6 shale plays remain the primary growth drivers for (Chesapeake) going forward,” Richardson said.
“We still see upside from current levels, but view risk-reward as more balanced today,” he stated.
Shares of Chesapeake fell 22 cents to close at $25.42.
