Allianz Asset Management GmbH cut its position in Chesapeake Energy Corporation (NYSE:CHK) by 13.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,211,489 shares of the oil and gas exploration company’s stock after selling 1,079,429 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.79% of Chesapeake Energy worth $31,009,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CHK. Advisory Services Network LLC grew its stake in shares of Chesapeake Energy by 42.6% during the second quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock worth $116,000 after acquiring an additional 7,000 shares during the last quarter. UBS Oconnor LLC purchased a new stake in shares of Chesapeake Energy during the second quarter worth about $122,000. Gotham Asset Management LLC purchased a new stake in shares of Chesapeake Energy during the second quarter worth about $126,000. HRT Financial LLC purchased a new stake in shares of Chesapeake Energy during the second quarter worth about $131,000. Finally, Sapphire Star Partners LP purchased a new stake in shares of Chesapeake Energy during the third quarter worth about $143,000. Institutional investors and hedge funds own 64.03% of the company’s stock.

Shares of Chesapeake Energy Corporation (NYSE CHK) opened at $3.68 on Friday. The company has a debt-to-equity ratio of -4.17, a current ratio of 0.53 and a quick ratio of 0.53. Chesapeake Energy Corporation has a 52-week low of $3.41 and a 52-week high of $8.20. The company has a market capitalization of $3,343.96, a P/E ratio of 6.13 and a beta of 2.13.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas exploration company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Chesapeake Energy had a negative return on equity of 19.93% and a net margin of 2.77%. The business had revenue of $979.00 million for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm posted $0.09 EPS. The business’s quarterly revenue was down 16.8% compared to the same quarter last year. sell-side analysts forecast that Chesapeake Energy Corporation will post 0.76 earnings per share for the current year.

A number of equities research analysts have recently weighed in on CHK shares. Piper Jaffray Companies set a $6.00 price target on Chesapeake Energy and gave the stock a “hold” rating in a research note on Thursday, August 24th. Jefferies Group lowered Chesapeake Energy from a “hold” rating to an “underperform” rating and dropped their price target for the stock from $4.00 to $2.00 in a research note on Monday, October 9th. Barclays boosted their price target on Chesapeake Energy from $2.00 to $3.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 11th. ValuEngine lowered Chesapeake Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered Chesapeake Energy from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chesapeake Energy presently has an average rating of “Hold” and an average target price of $5.69.

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Chesapeake Energy 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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Institutional Ownership by Quarter for Chesapeake Energy (NYSE:CHK)

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