Chesapeake Energy Co. (NYSE:CHK) Sees Large Decline in Short Interest

Chesapeake Energy Co. (NYSE:CHK) was the recipient of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 165,924,000 shares, a decline of 2.1% from the November 30th total of 169,540,948 shares. Currently, 18.5% of the shares of the company are sold short. Based on an average daily volume of 26,253,772 shares, the short-interest ratio is presently 6.3 days.

Several large investors have recently modified their holdings of the company. Gofen & Glossberg LLC IL purchased a new stake in shares of Chesapeake Energy during the 3rd quarter worth about $390,000. Highbridge Capital Management LLC boosted its holdings in Chesapeake Energy by 91.1% in the 3rd quarter. Highbridge Capital Management LLC now owns 419,050 shares of the oil and gas exploration company’s stock worth $1,802,000 after acquiring an additional 199,750 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its holdings in Chesapeake Energy by 22.1% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 155,885 shares of the oil and gas exploration company’s stock worth $669,000 after acquiring an additional 28,190 shares during the period. Chevy Chase Trust Holdings Inc. boosted its holdings in Chesapeake Energy by 20.5% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 791,989 shares of the oil and gas exploration company’s stock worth $3,405,000 after acquiring an additional 134,861 shares during the period. Finally, Old West Investment Management LLC boosted its holdings in Chesapeake Energy by 96.3% in the 3rd quarter. Old West Investment Management LLC now owns 2,157,554 shares of the oil and gas exploration company’s stock worth $9,277,000 after acquiring an additional 1,058,477 shares during the period. Institutional investors and hedge funds own 63.89% of the company’s stock.

CHK has been the subject of several analyst reports. Piper Jaffray Companies set a $4.00 target price on shares of Chesapeake Energy and gave the company a “hold” rating in a research note on Thursday, October 19th. Jefferies Group cut shares of Chesapeake Energy from a “hold” rating to an “underperform” rating and reduced their target price for the company from $4.00 to $2.00 in a research report on Monday, October 9th. Credit Suisse Group started coverage on shares of Chesapeake Energy in a research report on Monday, December 11th. They issued an “underperform” rating and a $3.00 target price for the company. Barclays upped their price objective on shares of Chesapeake Energy from $2.00 to $3.00 and gave the company an “underweight” rating in a report on Wednesday, October 11th. Finally, Scotiabank set a $4.00 target price on shares of Chesapeake Energy and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given 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 a consensus target price of $5.15.

Chesapeake Energy (NYSE:CHK) opened at $4.28 on Monday. The stock has a market capitalization of $3,889.18, a price-to-earnings ratio of -12.59 and a beta of 2.13. The company has a debt-to-equity ratio of -4.17, a quick ratio of 0.53 and a current ratio of 0.53. Chesapeake Energy has a one year low of $3.41 and a one year high of $7.29.

Chesapeake Energy (NYSE:CHK) last announced its earnings results on Thursday, November 2nd. The oil and gas exploration company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Chesapeake Energy had a net margin of 2.77% and a negative return on equity of 19.93%. The firm had revenue of $979.00 million during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The firm’s revenue for the quarter was down 16.8% on a year-over-year basis. research analysts forecast that Chesapeake Energy will post 0.76 earnings per share for the current fiscal year.

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About Chesapeake Energy

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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