Chesapeake Energy Corp. (NYSE:CHK) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 128,279,578 shares, a decline of 7.0% from the October 31st total of 137,995,675 shares. Based on an average daily trading volume, of 53,788,754 shares, the days-to-cover ratio is presently 2.4 days. Currently, 16.8% of the company’s stock are short sold.

In other news, Director Archie W. Dunham purchased 1,000,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was acquired at an average price of $6.67 per share, with a total value of $6,670,000.00. Following the purchase, the director now owns 4,127,951 shares in the company, valued at approximately $27,533,433.17. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Chesapeake Energy Corp. during the second quarter worth $101,000. Advisor Partners LLC bought a new stake in Chesapeake Energy Corp. during the third quarter worth $104,000. Virginia Retirement Systems ET AL bought a new stake in Chesapeake Energy Corp. during the second quarter worth $110,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Chesapeake Energy Corp. by 14.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,452 shares of the oil and gas exploration company’s stock worth $116,000 after buying an additional 2,372 shares during the last quarter. Finally, Norinchukin Bank The increased its stake in Chesapeake Energy Corp. by 15.5% in the second quarter. Norinchukin Bank The now owns 30,675 shares of the oil and gas exploration company’s stock worth $131,000 after buying an additional 4,121 shares during the last quarter. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Chesapeake Energy Corp. (NYSE:CHK) opened at 7.00 on Thursday. The company’s market cap is $5.36 billion. The company has a 50-day moving average price of $6.07 and a 200 day moving average price of $5.53. Chesapeake Energy Corp. has a 12-month low of $1.50 and a 12-month high of $8.15.

Chesapeake Energy Corp. (NYSE:CHK) last released its earnings results on Thursday, November 3rd. The oil and gas exploration company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The firm earned $2.28 billion during the quarter, compared to the consensus estimate of $2.18 billion. Chesapeake Energy Corp. had a negative return on equity of 16.16% and a negative net margin of 70.72%. The company’s revenue was down 32.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. On average, analysts forecast that Chesapeake Energy Corp. will post ($0.05) EPS for the current fiscal year.

A number of brokerages have issued reports on CHK. Bank of America Corp. raised Chesapeake Energy Corp. from an “underperform” rating to a “neutral” rating and set a $10.00 target price for the company in a research report on Friday, October 21st. RBC Capital Markets raised Chesapeake Energy Corp. from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $7.00 to $8.00 in a research report on Tuesday, October 25th. Barclays PLC set a $3.00 target price on Chesapeake Energy Corp. and gave the stock an “underweight” rating in a research report on Tuesday, August 16th. FBR & Co began coverage on Chesapeake Energy Corp. in a research report on Tuesday, September 13th. They set an “underperform” rating and a $5.00 target price for the company. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and set a $7.00 target price (up previously from $4.00) on shares of Chesapeake Energy Corp. in a research report on Monday, October 24th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Chesapeake Energy Corp. presently has an average rating of “Hold” and an average target price of $7.44.

TRADEMARK VIOLATION NOTICE: “Chesapeake Energy Corp. (CHK) Sees Large Decline in Short Interest” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another site, it was illegally stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this story can be read at https://www.thecerbatgem.com/2016/12/01/chesapeake-energy-corp-chk-sees-large-decline-in-short-interest.html.

Chesapeake Energy Corp. Company Profile

Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.

5 Day Chart for NYSE:CHK

Receive News & Stock Ratings for Chesapeake Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Energy Corp. and related stocks with our FREE daily email newsletter.