Investors Purchase High Volume of Chesapeake Energy Corporation Call Options (CHK)

Chesapeake Energy Corporation (NYSE:CHK) saw unusually large options trading activity on Thursday. Traders bought 29,476 call options on the stock. This is an increase of 104% compared to the average daily volume of 14,424 call options.

In other Chesapeake Energy Corporation news, Director R Brad Martin bought 20,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was bought at an average cost of $5.26 per share, with a total value of $105,200.00. Following the completion of the transaction, the director now directly owns 501,958 shares in the company, valued at approximately $2,640,299.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas L. Ryan bought 75,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $5.00 per share, with a total value of $375,000.00. Following the completion of the transaction, the director now owns 440,355 shares of the company’s stock, valued at $2,201,775. The disclosure for this purchase can be found here. Insiders own 1.14% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. increased its position in shares of Chesapeake Energy Corporation by 0.4% in the first quarter. Capstone Asset Management Co. now owns 39,943 shares of the oil and gas exploration company’s stock valued at $237,000 after buying an additional 140 shares during the period. Federated Investors Inc. PA increased its position in shares of Chesapeake Energy Corporation by 0.3% in the fourth quarter. Federated Investors Inc. PA now owns 88,887 shares of the oil and gas exploration company’s stock valued at $624,000 after buying an additional 265 shares during the period. Cleararc Capital Inc. increased its position in shares of Chesapeake Energy Corporation by 2.8% in the first quarter. Cleararc Capital Inc. now owns 18,627 shares of the oil and gas exploration company’s stock valued at $111,000 after buying an additional 508 shares during the period. FMR LLC increased its position in shares of Chesapeake Energy Corporation by 0.3% in the first quarter. FMR LLC now owns 259,917 shares of the oil and gas exploration company’s stock valued at $1,544,000 after buying an additional 667 shares during the period. Finally, Greenwich Wealth Management LLC increased its position in shares of Chesapeake Energy Corporation by 3.5% in the first quarter. Greenwich Wealth Management LLC now owns 26,186 shares of the oil and gas exploration company’s stock valued at $156,000 after buying an additional 886 shares during the period. Institutional investors own 64.92% of the company’s stock.

A number of brokerages have issued reports on CHK. BMO Capital Markets reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Chesapeake Energy Corporation in a research report on Monday, May 15th. Barclays PLC reiterated a “sell” rating and issued a $4.00 target price (down from $5.00) on shares of Chesapeake Energy Corporation in a research note on Thursday, April 20th. Jefferies Group LLC set a $6.00 target price on shares of Chesapeake Energy Corporation and gave the company a “hold” rating in a research note on Tuesday, June 6th. Scotiabank set a $6.00 target price on shares of Chesapeake Energy Corporation and gave the company a “hold” rating in a research note on Monday, March 27th. Finally, Macquarie reiterated a “neutral” rating on shares of Chesapeake Energy Corporation in a research note on Monday, May 8th. Three equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $7.18.

Shares of Chesapeake Energy Corporation (NYSE CHK) traded down 2.16% on Monday, reaching $4.99. 35,028,151 shares of the company were exchanged. The company’s 50-day moving average is $5.30 and its 200-day moving average is $6.05. The company’s market capitalization is $4.45 billion. Chesapeake Energy Corporation has a 52 week low of $3.93 and a 52 week high of $8.20.

Chesapeake Energy Corporation (NYSE:CHK) last issued its quarterly earnings results on Thursday, May 4th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Chesapeake Energy Corporation had a negative net margin of 35.84% and a negative return on equity of 7.64%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company earned ($0.10) EPS. On average, equities analysts expect that Chesapeake Energy Corporation will post $0.85 EPS for the current fiscal year.

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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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