Perella Weinberg Partners Capital Management LP Acquires 38,677 Shares of Chesapeake Energy Co. (CHK)

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Perella Weinberg Partners Capital Management LP lifted its holdings in shares of Chesapeake Energy Co. (NYSE:CHK) by 29.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,693 shares of the oil and gas exploration company’s stock after buying an additional 38,677 shares during the quarter. Perella Weinberg Partners Capital Management LP’s holdings in Chesapeake Energy were worth $757,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of Chesapeake Energy by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 647,760 shares of the oil and gas exploration company’s stock valued at $2,908,000 after buying an additional 14,707 shares in the last quarter. North Star Asset Management Inc. lifted its stake in shares of Chesapeake Energy by 1.5% during the 3rd quarter. North Star Asset Management Inc. now owns 946,911 shares of the oil and gas exploration company’s stock valued at $4,252,000 after buying an additional 14,365 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Chesapeake Energy by 3,143.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 132,341 shares of the oil and gas exploration company’s stock valued at $594,000 after buying an additional 128,261 shares in the last quarter. Wright Investors Service Inc. purchased a new stake in shares of Chesapeake Energy during the 3rd quarter valued at approximately $223,000. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of Chesapeake Energy by 1,077.8% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 150,397 shares of the oil and gas exploration company’s stock valued at $35,894,000 after buying an additional 137,628 shares in the last quarter. Institutional investors own 57.20% of the company’s stock.

Chesapeake Energy stock opened at $3.49 on Monday. The company has a market cap of $3.19 billion, a P/E ratio of 4.26, a PEG ratio of 0.45 and a beta of 1.93. Chesapeake Energy Co. has a 1-year low of $2.53 and a 1-year high of $5.60.

Chesapeake Energy (NYSE:CHK) last posted its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. Chesapeake Energy’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. On average, analysts forecast that Chesapeake Energy Co. will post 0.85 earnings per share for the current fiscal year.

A number of analysts recently commented on the stock. SunTrust Banks cut shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. They noted that the move was a valuation call. Stephens restated a “hold” rating and set a $6.00 price target on shares of Chesapeake Energy in a research note on Friday, July 27th. Wolfe Research cut shares of Chesapeake Energy from a “peer perform” rating to an “underperform” rating in a research note on Thursday, August 16th. Citigroup upped their price target on shares of Chesapeake Energy from $2.50 to $3.50 and gave the company a “sell” rating in a research note on Monday, July 30th. Finally, Credit Suisse Group set a $3.00 price target on shares of Chesapeake Energy and gave the company a “sell” rating in a research note on Wednesday, October 31st. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $4.91.

Chesapeake Energy Profile

Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.

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

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