Prudential Financial Inc. Lowers Holdings in Chesapeake Energy Corporation (CHK)
Prudential Financial Inc. lowered its position in shares of Chesapeake Energy Corporation (NYSE:CHK) by 6.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,015,138 shares of the oil and gas exploration company’s stock after selling 65,700 shares during the quarter. Prudential Financial Inc. owned about 0.11% of Chesapeake Energy Corporation worth $5,045,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of CHK. Vanguard Group Inc. raised its stake in shares of Chesapeake Energy Corporation by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 91,145,308 shares of the oil and gas exploration company’s stock valued at $541,403,000 after buying an additional 6,948,058 shares during the last quarter. State Street Corp increased its stake in shares of Chesapeake Energy Corporation by 6.0% in the 1st quarter. State Street Corp now owns 43,785,695 shares of the oil and gas exploration company’s stock valued at $260,083,000 after purchasing an additional 2,476,711 shares in the last quarter. Schneider Capital Management Corp increased its stake in shares of Chesapeake Energy Corporation by 34.1% in the 1st quarter. Schneider Capital Management Corp now owns 7,534,855 shares of the oil and gas exploration company’s stock valued at $44,757,000 after purchasing an additional 1,918,000 shares in the last quarter. James Investment Research Inc. increased its stake in shares of Chesapeake Energy Corporation by 3,211.0% in the 2nd quarter. James Investment Research Inc. now owns 1,726,694 shares of the oil and gas exploration company’s stock valued at $8,582,000 after purchasing an additional 1,674,544 shares in the last quarter. Finally, KBC Group NV purchased a new position in shares of Chesapeake Energy Corporation in the 1st quarter valued at about $7,727,000. 64.46% of the stock is owned by institutional investors.
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In related news, Director R Brad Martin bought 25,000 shares of the company’s stock in a transaction on 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 approximately $2,249,641.38. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.14% of the company’s stock.
Several equities analysts recently weighed in on CHK shares. Scotiabank set a $5.00 price target on Chesapeake Energy Corporation and gave the company a “hold” rating in a research note on Thursday, August 3rd. Vetr upgraded Chesapeake Energy Corporation from a “buy” rating to a “strong-buy” rating and set a $5.23 target price on the stock in a report on Monday, July 24th. Piper Jaffray Companies set a $6.00 target price on Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. Royal Bank Of Canada set a $7.00 price objective on Chesapeake Energy Corporation and gave the company a “hold” rating in a report on Monday, May 29th. Finally, BidaskClub cut Chesapeake Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Chesapeake Energy Corporation presently has an average rating of “Hold” and an average target price of $6.34.
Chesapeake Energy Corporation (NYSE:CHK) opened at 4.05 on Tuesday. The firm’s market cap is $3.61 billion. The firm’s 50-day moving average price is $4.02 and its 200 day moving average price is $4.94. Chesapeake Energy Corporation has a 52 week low of $3.55 and a 52 week high of $8.20.
Chesapeake Energy Corporation (NYSE:CHK) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 EPS for the quarter, topping the Zacks’ 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 business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm earned ($0.14) EPS. The business’s quarterly revenue was up 40.6% on a year-over-year basis. Equities analysts forecast that Chesapeake Energy Corporation will post $0.76 earnings per share for the current fiscal year.
Chesapeake Energy Corporation Profile
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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