Soros Fund Management LLC Buys New Stake in Chesapeake Energy Corporation (NYSE:CHK)

Soros Fund Management LLC purchased a new stake in shares of Chesapeake Energy Corporation (NYSE:CHK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,100 shares of the oil and gas exploration company’s stock, valued at approximately $191,000.

A number of other hedge funds have also bought and sold shares of the stock. Tiedemann Wealth Management LLC raised its stake in Chesapeake Energy Corporation by 21.0% in the first quarter. Tiedemann Wealth Management LLC now owns 16,999 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 2,952 shares during the last quarter. Hollencrest Securities LLC raised its stake in Chesapeake Energy Corporation by 6.1% in the first quarter. Hollencrest Securities LLC now owns 17,275 shares of the oil and gas exploration company’s stock worth $103,000 after buying an additional 1,000 shares in the last quarter. Putnam Investments LLC raised its stake in Chesapeake Energy Corporation by 6.9% in the fourth quarter. Putnam Investments LLC now owns 15,394 shares of the oil and gas exploration company’s stock worth $108,000 after buying an additional 1,000 shares in the last quarter. Cleararc Capital Inc. raised its stake in 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 worth $111,000 after buying an additional 508 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Chesapeake Energy Corporation during the fourth quarter worth $133,000. Institutional investors and hedge funds own 64.60% of the company’s stock.

Chesapeake Energy Corporation (NYSE CHK) opened at 4.76 on Wednesday. Chesapeake Energy Corporation has a 1-year low of $4.36 and a 1-year high of $8.20. The company’s 50 day moving average is $4.87 and its 200-day moving average is $5.64. The stock’s market cap is $4.24 billion.

Chesapeake Energy Corporation (NYSE:CHK) last announced its quarterly earnings data on Thursday, May 4th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $1.10 billion. During the same period in the previous year, the company posted ($0.10) EPS. Equities research analysts forecast that Chesapeake Energy Corporation will post $0.82 earnings per share for the current fiscal year.

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A number of research firms have recently weighed in on CHK. Royal Bank Of Canada reiterated a “hold” rating and set a $7.00 target price on shares of Chesapeake Energy Corporation in a report on Tuesday, April 25th. Vetr lowered shares of Chesapeake Energy Corporation from a “strong-buy” rating to a “buy” rating and set a $5.23 price objective for the company. in a report on Tuesday, July 11th. SunTrust Banks, Inc. restated a “buy” rating and issued a $9.00 price objective on shares of Chesapeake Energy Corporation in a report on Monday, May 1st. Jefferies Group LLC set a $6.00 price objective on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a report on Tuesday, June 6th. Finally, Macquarie lowered shares of Chesapeake Energy Corporation from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $3.93 to $4.00 in a report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $6.80.

In related news, Director R Brad Martin purchased 20,400 shares of the stock in a transaction dated Friday, June 23rd. The shares were acquired at an average cost of $4.55 per share, with a total value of $92,820.00. Following the purchase, the director now directly owns 522,358 shares in the company, valued at approximately $2,376,728.90. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas L. Ryan purchased 75,000 shares of the stock in a transaction dated Wednesday, May 31st. The shares were bought at an average cost of $5.00 per share, for a total transaction of $375,000.00. Following the completion of the purchase, the director now owns 440,355 shares in the company, valued at $2,201,775. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 115,400 shares of company stock worth $573,020. Corporate insiders own 1.14% of the company’s stock.

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.

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

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