J.P. Morgan expects Chesapeake to miss Q4 estimates, cuts PT

CHK Oil

18/01/2023 19:18

(Updates)
    ** Shares of U.S. natural gas producer Chesapeake Energy
Corp  CHK.O  down 1.8% at $88.86, amid broader loss in energy
sector
    ** J.P. Morgan cuts PT to $133 from $144 as brokerage
expects CHK to miss estimates for Q4 EBITDA and cash flows
    ** CHK to sell part of its operations in south Texas to
private equity-owned WildFire Energy for $1.4 billion
 urn:newsml:reuters.com:*:nL1N343234
    ** Brokerage estimates quarterly production of 4.06 billion
cubic feet equivalent per day (Bcfed), 2% below estimates
    ** CHK could slow down activity in the Haynesville,
Louisiana plant - JPM 
    ** 14 of 16 brokerages rate the stock "buy" or higher and
two "hold"; their median PT is $140
    ** Stock gained about 30% in the last one year
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))