Chesapeake Energy Corporation (CHK) Stake Lowered by California Public Employees Retirement System
California Public Employees Retirement System lowered its position in Chesapeake Energy Corporation (NYSE:CHK) by 24.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,107,774 shares of the oil and gas exploration company’s stock after selling 1,000,900 shares during the quarter. California Public Employees Retirement System owned about 0.35% of Chesapeake Energy Corporation worth $15,446,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CHK. Fox Run Management L.L.C. purchased a new stake in Chesapeake Energy Corporation in the second quarter valued at approximately $115,000. HRT Financial LLC bought a new stake in Chesapeake Energy Corporation during the second quarter valued at approximately $131,000. V Wealth Management LLC lifted its position in Chesapeake Energy Corporation by 14.8% during the second quarter. V Wealth Management LLC now owns 32,925 shares of the oil and gas exploration company’s stock valued at $145,000 after purchasing an additional 4,240 shares during the last quarter. Blair William & Co. IL lifted its position in Chesapeake Energy Corporation by 10.5% during the second quarter. Blair William & Co. IL now owns 29,469 shares of the oil and gas exploration company’s stock valued at $146,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its position in Chesapeake Energy Corporation by 4.2% during the second quarter. Thrivent Financial For Lutherans now owns 30,015 shares of the oil and gas exploration company’s stock valued at $149,000 after purchasing an additional 1,200 shares during the last quarter. 64.56% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on CHK shares. Vetr lowered shares of Chesapeake Energy Corporation from a “buy” rating to a “hold” rating and set a $5.23 price target on the stock. in a report on Monday, July 31st. Jefferies Group LLC set a $6.00 price objective on shares of Chesapeake Energy Corporation and gave the company a “hold” rating in a research report on Tuesday, June 6th. Wolfe Research initiated coverage on shares of Chesapeake Energy Corporation in a report on Thursday, June 15th. They set a “market perform” rating and a $5.50 price objective for the company. BidaskClub downgraded shares of Chesapeake Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. Finally, Scotiabank reiterated a “hold” rating and issued a $5.00 target price on shares of Chesapeake Energy Corporation in a research report on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $6.17.
Shares of Chesapeake Energy Corporation (NYSE CHK) opened at 4.29 on Wednesday. Chesapeake Energy Corporation has a 52 week low of $3.55 and a 52 week high of $8.20. The company’s market cap is $3.82 billion. The stock’s 50 day moving average is $3.97 and its 200-day moving average is $4.86.
Chesapeake Energy Corporation (NYSE:CHK) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted ($0.14) EPS. Chesapeake Energy Corporation’s quarterly revenue was up 40.6% on a year-over-year basis. On average, equities analysts anticipate that Chesapeake Energy Corporation will post $0.73 earnings per share for the current year.
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In related news, Director R Brad Martin bought 25,000 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $4.11 per share, with a total value of $102,750.00. Following the completion of the purchase, the director now owns 547,358 shares of the company’s stock, valued at $2,249,641.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.14% of the stock is currently owned by company insiders.
Chesapeake Energy Corporation Company 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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