Chesapeake Energy’s Estimates Lowered at UBS (CHK)

By Staff,

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Natural gas producer Chesapeake Energy Corporation ( CHK ) on Friday saw its earnings estimates cut by analysts at UBS.

The firm said it lowered its estimates for CHK through 2012, citing lower-than-expected natural gas selling prices. Still, UBS maintained its "Neutral" rating and $34 price target, which suggests an 11% upside to the stock's Thursday closing price of $30.51.

Chesapeake Energy shares fell 14 cents, or -0.5%, in premarket trading Friday.

The Bottom Line
Shares of Chesapeake Energy ( CHK ) have a 1.15% dividend yield, based on last night's closing stock price of $30.51. The stock has technical support in the $26-$28 price area. If the shares can firm up, we see overhead resistance around the $32-$34 price levels.

Chesapeake Energy Corporation ( CHK ) is not recommended at this time, holding a DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: CHK

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