Chesapeake Energy Corporation (NYSE: CHK) downgraded to Hold by Wunderlich
Wunderlich downgraded Chesapeake Energy Corporation (NYSE: CHK) to Hold. Previously, Wunderlich
rated Chesapeake Energy Corporation (NYSE: CHK) to Buy with price target $30 on 05/31/2013, when the stock price was valued at $22.56.
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.
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