Oarsman Capital Inc. boosted its position in Chesapeake Energy Co. (NYSE:CHK) by 44.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 271,550 shares of the oil and gas exploration company’s stock after purchasing an additional 83,950 shares during the period. Oarsman Capital Inc.’s holdings in Chesapeake Energy were worth $1,219,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Chesapeake Energy by 181.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,972,965 shares of the oil and gas exploration company’s stock valued at $11,998,000 after purchasing an additional 2,561,947 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Chesapeake Energy by 29.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 92,770 shares of the oil and gas exploration company’s stock valued at $486,000 after purchasing an additional 20,870 shares during the last quarter. Oakbrook Investments LLC bought a new stake in shares of Chesapeake Energy in the 2nd quarter valued at approximately $183,000. James Investment Research Inc. lifted its stake in shares of Chesapeake Energy by 44.6% in the 2nd quarter. James Investment Research Inc. now owns 1,211,085 shares of the oil and gas exploration company’s stock valued at $6,346,000 after purchasing an additional 373,543 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of Chesapeake Energy in the 2nd quarter valued at approximately $2,465,000. 57.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Chesapeake Energy stock traded up $0.15 during trading hours on Wednesday, reaching $3.71. 12,322,607 shares of the company were exchanged, compared to its average volume of 37,575,624. The firm has a market capitalization of $3.16 billion, a P/E ratio of 4.52, a P/E/G ratio of 0.44 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 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Chesapeake Energy had a negative return on equity of 54.07% and a net margin of 6.91%. Chesapeake Energy’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, equities research analysts expect that Chesapeake Energy Co. will post 0.86 EPS for the current year.
Several equities research analysts have recently weighed in on CHK shares. SunTrust Banks downgraded Chesapeake Energy from a “buy” rating to a “hold” rating in a report on Monday, September 24th. They noted that the move was a valuation call. Stephens reiterated a “hold” rating and issued a $6.00 price target on shares of Chesapeake Energy in a report on Friday, July 27th. Wolfe Research downgraded Chesapeake Energy from a “peer perform” rating to an “underperform” rating in a report on Thursday, August 16th. Citigroup increased their price target on Chesapeake Energy from $2.50 to $3.50 and gave the stock a “sell” rating in a report on Monday, July 30th. Finally, Credit Suisse Group set a $3.00 price target on Chesapeake Energy and gave the stock a “sell” rating in a report on Wednesday, October 31st. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Chesapeake Energy presently has a consensus rating of “Hold” and an average target price of $4.99.
In other Chesapeake Energy news, EVP James R. Webb bought 50,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was acquired at an average price of $3.54 per share, for a total transaction of $177,000.00. Following the completion of the purchase, the executive vice president now owns 871,548 shares of the company’s stock, valued at $3,085,279.92. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.
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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