Capital Research Global Investors Has $161,461,000 Stake in Chesapeake Energy Corporation (CHK)
Capital Research Global Investors maintained its stake in shares of Chesapeake Energy Corporation (NYSE:CHK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,487,190 shares of the oil and gas exploration company’s stock at the close of the 2nd quarter. Capital Research Global Investors owned approximately 3.64% of Chesapeake Energy Corporation worth $161,461,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Clinton Group Inc. grew its holdings in Chesapeake Energy Corporation by 422.0% during the second quarter. Clinton Group Inc. now owns 425,242 shares of the oil and gas exploration company’s stock worth $2,113,000 after buying an additional 343,776 shares in the last quarter. UBS Oconnor LLC bought a new stake in Chesapeake Energy Corporation during the second quarter worth $122,000. HighTower Advisors LLC grew its holdings in Chesapeake Energy Corporation by 14.2% during the second quarter. HighTower Advisors LLC now owns 68,143 shares of the oil and gas exploration company’s stock worth $338,000 after buying an additional 8,476 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in Chesapeake Energy Corporation by 53.1% during the second quarter. First Allied Advisory Services Inc. now owns 72,820 shares of the oil and gas exploration company’s stock worth $359,000 after buying an additional 25,266 shares in the last quarter. Finally, QS Investors LLC grew its holdings in Chesapeake Energy Corporation by 61.5% during the second quarter. QS Investors LLC now owns 95,042 shares of the oil and gas exploration company’s stock worth $472,000 after buying an additional 36,200 shares in the last quarter. Institutional investors and hedge funds own 64.56% of the company’s stock.
In other news, Director R Brad Martin acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $4.11 per share, with a total value of $102,750.00. Following the completion of the acquisition, the director now directly owns 547,358 shares of the company’s stock, valued at approximately $2,249,641.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.
Several equities research analysts recently issued reports on CHK shares. Citigroup Inc. decreased their price target on Chesapeake Energy Corporation from $8.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Tudor Pickering downgraded Chesapeake Energy Corporation from a “buy” rating to a “hold” rating and upped their price target for the stock from $3.76 to $4.00 in a report on Tuesday, September 5th. Vetr upgraded Chesapeake Energy Corporation from a “buy” rating to a “strong-buy” rating and set a $5.23 price target for the company in a report on Monday, July 24th. Scotiabank reiterated a “hold” rating and set a $5.00 price target on shares of Chesapeake Energy Corporation in a report on Friday, June 30th. Finally, ValuEngine downgraded Chesapeake Energy Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $6.17.
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Chesapeake Energy Corporation (CHK) opened at 4.30 on Friday. Chesapeake Energy Corporation has a 12 month low of $3.55 and a 12 month high of $8.20. The stock’s market cap is $3.83 billion. The stock’s 50 day moving average price is $3.98 and its 200-day moving average price is $4.85.
Chesapeake Energy Corporation (NYSE:CHK) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Chesapeake Energy Corporation had a negative return on equity of 16.10% and a negative net margin of 9.52%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Chesapeake Energy Corporation’s revenue was up 40.6% compared to the same quarter last year. Analysts anticipate that Chesapeake Energy Corporation will post $0.73 EPS for the current fiscal year.
About Chesapeake Energy Corporation
Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.
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