Numeric Investors LLC acquired a new position in shares of Chesapeake Energy Corporation (NYSE:CHK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 315,100 shares of the oil and gas exploration company’s stock, valued at approximately $1,566,000.
A number of other hedge funds have also recently modified their holdings of CHK. Fox Run Management L.L.C. purchased a new position in Chesapeake Energy Corporation during the second quarter worth $115,000. HRT Financial LLC purchased a new position in Chesapeake Energy Corporation during the second quarter worth $131,000. V Wealth Management LLC increased 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 worth $145,000 after buying an additional 4,240 shares in the last quarter. Blair William & Co. IL increased 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 worth $146,000 after buying an additional 2,800 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its position in shares of Chesapeake Energy Corporation by 4.2% in 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 period. 64.56% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on CHK. Macquarie downgraded Chesapeake Energy Corporation from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $3.93 to $4.00 in a research report on Wednesday, June 21st. Citigroup Inc. lowered their price objective on Chesapeake Energy Corporation from $8.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, July 21st. Vetr downgraded Chesapeake Energy Corporation from a “strong-buy” rating to a “buy” rating and set a $5.23 price objective for the company. in a research report on Tuesday, July 11th. Imperial Capital initiated coverage on Chesapeake Energy Corporation in a research report on Tuesday, September 19th. They issued an “in-line” rating and a $5.00 price objective for the company. Finally, BidaskClub upgraded Chesapeake Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $6.01.
Chesapeake Energy Corporation (NYSE:CHK) last issued its earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share (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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned ($0.14) EPS. The firm’s quarterly revenue was up 40.6% on a year-over-year basis.
In other Chesapeake Energy Corporation news, Director R Brad Martin acquired 25,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $4.11 per share, for a total transaction of $102,750.00. Following the acquisition, the director now owns 547,358 shares in the company, valued at approximately $2,249,641.38. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.14% of the stock is owned by corporate insiders.
About Chesapeake Energy Corporation
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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