Credit: Shutterstock photoNatural gas producer Chesapeake Energy Corporation ( CHK ) on Thursday caught some further positive sentiment from analysts at Jefferies & Co.
The firm maintained its "Buy" rating on the stock,
Jefferies said that the sale of some of the company's assets in the Marcellus Shale should help bridge the 2012 funding gap. Commenting, the analyst noted that "Progress along this front should result in the stock reflecting more of the upside embedded in CHK's asset base. An update on the Utica JV should be imminent."
Chesapeake Energy shares, which have fallen 12.5% year-to-date, rose 18 cents, or +0.8%, in premarket trading Thursday.
The Bottom Line
Shares of Chesapeake Energy ( CHK ) have a 1.54% dividend yield, based on last night's closing stock price of $22.66. The stock has technical support in the $18-$20 price area. If the shares can firm up, we see overhead resistance around the $24-$26 price levels.
Chesapeake Energy Corporation ( CHK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.