Employees Retirement System of Texas Decreases Holdings in Chesapeake Energy Corporation (CHK)
Employees Retirement System of Texas decreased its position in Chesapeake Energy Corporation (NYSE:CHK) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,000 shares of the oil and gas exploration company’s stock after selling 1,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Chesapeake Energy Corporation were worth $154,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CHK. Fox Run Management L.L.C. bought a new position in Chesapeake Energy Corporation in the second quarter worth $115,000. UBS Oconnor LLC bought a new position in Chesapeake Energy Corporation in the second quarter worth $122,000. HRT Financial LLC bought a new position in Chesapeake Energy Corporation in the second quarter worth $131,000. V Wealth Management LLC raised its holdings in Chesapeake Energy Corporation by 14.8% in the second quarter. V Wealth Management LLC now owns 32,925 shares of the oil and gas exploration company’s stock worth $145,000 after purchasing an additional 4,240 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Chesapeake Energy Corporation by 10.5% in the second quarter. Blair William & Co. IL now owns 29,469 shares of the oil and gas exploration company’s stock worth $146,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 64.56% of the company’s stock.
Chesapeake Energy Corporation (NYSE CHK) opened at 3.80 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 capitalization is $3.39 billion. The firm has a 50-day moving average price of $4.02 and a 200 day moving average price of $4.73.
Chesapeake Energy Corporation (NYSE:CHK) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $1.07 billion. Chesapeake Energy Corporation had a negative return on equity of 16.10% and a negative net margin of 9.52%. The company’s revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.14) earnings per share. Equities analysts anticipate that Chesapeake Energy Corporation will post $0.72 earnings per share for the current year.
In other news, Director R Brad Martin acquired 25,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $4.11 per share, with a total value of $102,750.00. Following the completion of the acquisition, the director now owns 547,358 shares of the company’s stock, valued at $2,249,641.38. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.
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CHK has been the subject of a number of research reports. Citigroup Inc. decreased their price objective 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 raised their price target for the company 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. Jefferies Group LLC downgraded Chesapeake Energy Corporation from a “hold” rating to an “underperform” rating and reduced their price target for the company from $4.00 to $2.00 in a report on Monday, October 9th. Finally, Scotiabank restated a “hold” rating and set a $5.00 price target on shares of Chesapeake Energy Corporation in a report on Friday, June 30th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $6.01.
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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