Industry News

Chesapeake Energy Co. (NYSE:CHK) Shares Acquired by Fisher Asset Management LLC

By August 23, 2019 No Comments

Fisher Asset Management LLC raised its stake in shares of Chesapeake Energy Co. (NYSE:CHK) by 7.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 878,742 shares of the oil and gas exploration company’s stock after buying an additional 64,578 shares during the period. Fisher Asset Management LLC owned about 0.05% of Chesapeake Energy worth $1,714,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CHK. FTB Advisors Inc. boosted its holdings in shares of Chesapeake Energy by 193.4% during the 1st quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 5,802 shares during the last quarter. Cedar Brook Financial Partners LLC acquired a new position in shares of Chesapeake Energy during the 1st quarter worth approximately $31,000. IFG Advisory LLC purchased a new stake in shares of Chesapeake Energy during the 1st quarter valued at approximately $34,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Chesapeake Energy during the 1st quarter valued at approximately $37,000. Finally, Covenant Multifamily Offices LLC purchased a new stake in shares of Chesapeake Energy during the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Shares of NYSE:CHK traded down $0.01 during trading on Thursday, hitting $1.61. The company’s stock had a trading volume of 1,127,004 shares, compared to its average volume of 51,384,272. The business has a 50 day moving average price of $1.64 and a two-hundred day moving average price of $2.37. The company has a market capitalization of $2.65 billion, a PE ratio of 1.77 and a beta of 2.43. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.62 and a current ratio of 0.62. Chesapeake Energy Co. has a fifty-two week low of $1.26 and a fifty-two week high of $4.98.

Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $1.17 billion. Chesapeake Energy had a return on equity of 90.53% and a net margin of 6.70%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. As a group, equities analysts expect that Chesapeake Energy Co. will post -0.26 earnings per share for the current fiscal year.

CHK has been the topic of several analyst reports. Argus lowered shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Morgan Stanley raised shares of Chesapeake Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $1.94 to $2.75 in a research report on Friday, June 28th. TheStreet lowered shares of Chesapeake Energy from a “c” rating to a “d+” rating in a research report on Wednesday, May 8th. Zacks Investment Research lowered shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Thursday, May 16th. Finally, Raymond James lowered shares of Chesapeake Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 8th. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $3.38.

In other news, EVP James R. Webb bought 50,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $1.96 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the executive vice president now owns 1,439,322 shares in the company, valued at approximately $2,821,071.12. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

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Institutional Ownership by Quarter for Chesapeake Energy (NYSE:CHK)

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