chk2Chesapeake Energy Corporation (NYSE:CHK) announced that Gloria R. Boyland has been appointed to the Board of Directors, effective as of November 30, 2016. Boyland will serve as a member of the Audit Committee and will stand for re-election at the 2017 annual meeting of shareholders on May 19, 2017. Separately, Kimberly K. Querrey has resigned from the Board of Directors, due to other commitments.

Chesapeake Chairman R. Brad Martin commented, “With over 30 years of operational, logistics and management experience, Gloria’s extensive leadership skills in driving continuous improvement are a perfect fit with the ongoing transformation of Chesapeake Energy. We are very pleased to welcome Gloria to the Board of Directors.”

Boyland is currently Corporate Vice President, Operations and Service Support, at FedEx Corporation (NYSE: FDX) where she has served since 2004. Previously, Boyland served in several various leadership and managerial positions at General Electric Company from 1992 to 2004 and served at AXA Financial from 1986 to 1992 as Assistant Counsel and Associate Counsel. Boyland is a graduate of Eckerd College and holds a Juris Doctorate degree from the University of Pennsylvaniaand a Master of Business Administration degree from Duke University. She is currently also involved in several national and local organizations which include serving on the U.S. Quality Council for The Conference Board, the American Society for Quality, Teach for America, the National Black MBA Association, the Memphis Brooks Museum of Art and the Mid-South Food Bank.

Boyland commented, “To become a part of one of the country’s largest energy producers is an outstanding opportunity for me and I am very much looking forward to working with the Board and management team and achieving even more for Chesapeake Energy in the future.” Meanwhile, Querrey commented, “I have enjoyed the opportunity to contribute to the Board and to see the organization grow and prosper.”

Martin further commented, “All of us at Chesapeake are grateful for the many contributions of Kimberly Querrey during her time on the Board. Her wise counsel and diligent service was very valuable during a challenging time for the company and industry.” (Original Source)

Shares of Chesapeake Energy closed today at $7.23, up $0.19 or 2.70%. CHK has a 1-year high of $8.15 and a 1-year low of $1.50. The stock’s 50-day moving average is $6.52 and its 200-day moving average is $5.41.

On the ratings front, CHK stock has been the subject of a number of recent research reports. In a report issued on November 15, Credit Suisse analyst Mark Lear maintained a Hold rating on CHK, with a price target of $7.00, which represents a slight downside potential from current levels. Separately, on November 10, Jefferies Co.’s Jon Wolff upgraded the stock to Hold and has a price target of $5.00.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mark Lear and Jon Wolff have a yearly average return of 19.6% and 7.0% respectively. Lear has a success rate of 74% and is ranked #72 out of 4239 analysts, while Wolff has a success rate of 54% and is ranked #517.

Sentiment on the street is mostly neutral on CHK stock. Out of 15 analysts who cover the stock, 9 suggest a Hold rating , 4 suggest a Sell and 2 recommend to Buy the stock. The 12-month average price target assigned to the stock is $6.10, which reflects a potential downside of -13% from last closing price.

Chesapeake Energy Corp. engages as a natural gas and oil exploration and production company. It operates through the Exploration and Production; Marketing, Gathering and Compression segments. The Exploration and Production segment focuses on finding and producing natural gas, oil and natural gas liquids. The Marketing, Gathering, and Compression segment deals with the marketing, gathering, and compression of natural gas, oil, and natural gas liquids primarily from Chesapeake-operated wells.