This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Chesapeake, Cabot Oil, Range Resources Are S&P Gainers

Stocks in this article: COG CHK RRC ^GSPC

NEW YORK ( TheStreet) -- Energy companies Chesapeake Energy (CHK), Cabot Oil & Gas (COG) and Range Resources (RRC) were among the best performing stocks on the S&P 500 midday Friday.

The S&P 500 rose 0.07% to 1,359.01 midday Friday.

Shares of Chesapeake Energy rose 3.16% to $24.52. The company was upgraded to buy from hold by Stifel Nicolaus on Friday.

"Firm says if investors look beyond a 12-month horizon, this stock is trading at a cheaper P/NAV than most names and its underlying NAV has been firming up, they think the company should be able to cover its 2012 funding gap, and funding gap begins to shrink in outer years," said of the Stifel Nicolaus report. "Therefore, this becomes an attractive entry point for a company whose stock has gone nowhere since late 2008 and yet has amassed a huge resource exposure with some large acreage positions in some of the best plays."

Chesapeake Energy has an estimated price-to-earnings ratio for next year of 12.12; the average for exploration and production companies is 19.63. For comparison, Valero Energy (VLO) has a lower forward P/E of 6.01 and Noble Energy's (NBL) forward P/E is 12.53.

Eighteen of the 37 analysts who cover Chesapeake rated it a buy. Fifteen analysts rated it at hold and four considered it a sell.

TheStreet Ratings gives Chesapeake a B- grade with a $28.27 price target. The stock closed Thursday at $23.77 and has risen 9.51% year to date.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs