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Rating: CHK
Sell $6

Chesapeake Energy Corporation (NYSE: CHK) downgraded to Sell with price target $6 by UBS

Thursday,  Aug 6, 2015  11:25 AM ET by Lynn Gilbert

UBS downgraded Chesapeake Energy Corporation (NYSE: CHK) to Sell with price target $6. Previously, UBS rated Chesapeake Energy
Corporation (NYSE: CHK) to Neutral with price target $19 on 02/26/2015, when the stock price was valued at $17.18. Since then, Chesapeake Energy Corporation's stock price has lost 55% as of 08/06/2015's recent price of $7.72.

Chesapeake Energy Corporation is a producer of natural gas in the United States. The Company own interests in approximately 41,200 producing natural gas and oil wells that are producing approximately 2.3 billion cubic feet equivalent (bcfe) per day, 92% of which is natural gas. As of December 31, 2008, it was focusing on discovering, developing and acquiring conventional and unconventional natural gas reserves onshore in the United States primarily in the Big 4 natural gas shale plays: the Barnett Shale in the Forth Worth Basin of north-central Texas, the Haynesville Shale in the Ark-La-Tex area of northwestern Louisiana and East Texas, the Fayetteville Shale in the Arkoma Basin of central Arkansas and the Marcellus Shale in the northern Appalachian Basin of West Virginia, Pennsylvania and New York. It also has operations in various other plays, both conventional and unconventional, in the Mid-Continent, Appalachian Basin, Permian Basin, Delaware Basin, and South Texas.

UBS is the leading global wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking. With headquarters in Zurich and Basel, Switzerland, UBS operates in over 50 countries and from all major international centers. UBS employs more than 80,000 people.

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