Chesapeake Energy Co. (CHK) Stake Decreased by Northern Trust Corp
Northern Trust Corp lessened its holdings in shares of Chesapeake Energy Co. (NYSE:CHK) by 2.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,049,297 shares of the oil and gas exploration company’s stock after selling 209,825 shares during the period. Northern Trust Corp’s holdings in Chesapeake Energy were worth $36,939,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Chesapeake Energy by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,775,942 shares of the oil and gas exploration company’s stock valued at $51,227,000 after purchasing an additional 161,327 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Chesapeake Energy by 20.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 469,214 shares of the oil and gas exploration company’s stock valued at $2,459,000 after purchasing an additional 78,138 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Chesapeake Energy during the 2nd quarter valued at about $450,000. SCP Investment LP bought a new position in shares of Chesapeake Energy during the 2nd quarter valued at about $3,337,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Chesapeake Energy by 93.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 37,832 shares of the oil and gas exploration company’s stock valued at $199,000 after purchasing an additional 18,277 shares in the last quarter. Institutional investors and hedge funds own 57.30% of the company’s stock.
Several research firms have recently weighed in on CHK. Piper Jaffray Companies reiterated a “hold” rating and set a $5.00 price objective on shares of Chesapeake Energy in a report on Friday, July 20th. ValuEngine cut Chesapeake Energy from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Morgan Stanley restated a “hold” rating and issued a $6.00 target price (up previously from $5.00) on shares of Chesapeake Energy in a research note on Friday, October 12th. Citigroup cut their target price on Chesapeake Energy from $5.00 to $2.00 and set a “sell” rating on the stock in a research note on Monday, June 25th. Finally, Zacks Investment Research cut Chesapeake Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.96.
Chesapeake Energy (NYSE:CHK) last released its earnings results on Wednesday, August 1st. The oil and gas exploration company reported $0.15 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Chesapeake Energy had a negative return on equity of 46.15% and a net margin of 6.16%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, equities analysts expect that Chesapeake Energy Co. will post 0.79 EPS for the current year.
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 Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.
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