Chesapeake Energy (NASDAQ:CHKEW) Trading Up 7.3% – Still a Buy?

Chesapeake Energy Co. (NASDAQ:CHKEW) shares were up 7.3% on Tuesday . The stock traded as high as $96.21 and last traded at $96.21. Approximately 2,619 shares traded hands during trading, an increase of 376% from the average daily volume of 550 shares. The stock had previously closed at $89.63.

Chesapeake Energy Stock Performance

The firm’s 50 day moving average price is $88.61 and its two-hundred day moving average price is $77.11.

Institutional Trading of Chesapeake Energy

A hedge fund recently raised its stake in Chesapeake Energy stock. Warberg Asset Management LLC raised its position in Chesapeake Energy Co. (NASDAQ:CHKEW) by 55.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,300 shares of the company’s stock after acquiring an additional 5,787 shares during the quarter. Warberg Asset Management LLC’s holdings in Chesapeake Energy were worth $1,208,000 at the end of the most recent reporting period.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.