California State Teachers Retirement System grew its position in Chesapeake Energy Co. (NYSE:CHK) by 13.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,651,724 shares of the oil and gas exploration company’s stock after buying an additional 200,295 shares during the quarter. California State Teachers Retirement System’s holdings in Chesapeake Energy were worth $5,120,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in CHK. Sigma Planning Corp acquired a new stake in shares of Chesapeake Energy during the fourth quarter worth approximately $25,000. Garrison Point Advisors LLC acquired a new stake in shares of Chesapeake Energy during the fourth quarter worth approximately $25,000. Bessemer Group Inc. boosted its holdings in shares of Chesapeake Energy by 1,081.8% during the fourth quarter. Bessemer Group Inc. now owns 11,818 shares of the oil and gas exploration company’s stock worth $25,000 after purchasing an additional 10,818 shares during the period. Peak Asset Management LLC acquired a new stake in shares of Chesapeake Energy during the fourth quarter worth approximately $26,000. Finally, FTB Advisors Inc. boosted its holdings in shares of Chesapeake Energy by 193.4% during the first quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 5,802 shares during the period. Institutional investors own 70.10% of the company’s stock.
In other news, CEO Robert D. Lawler purchased 50,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were bought at an average price of $2.02 per share, with a total value of $101,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,083,298 shares in the company, valued at approximately $10,268,261.96. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ngp Energy Capital Management, sold 568,424 shares of Chesapeake Energy stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3.25, for a total transaction of $1,847,378.00. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
CHK has been the subject of several research reports. MKM Partners set a $3.00 price target on shares of Chesapeake Energy and gave the stock a “hold” rating in a report on Tuesday, March 5th. Raymond James set a $5.00 price target on shares of Chesapeake Energy and gave the stock a “buy” rating in a report on Tuesday, March 19th. Citigroup raised their price target on shares of Chesapeake Energy from $2.50 to $3.50 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. TheStreet cut shares of Chesapeake Energy from a “c” rating to a “d+” rating in a report on Wednesday, May 8th. Finally, Goldman Sachs Group cut shares of Chesapeake Energy from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $2.75 to $2.50 in a report on Friday, April 12th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Chesapeake Energy has an average rating of “Hold” and a consensus target price of $4.01.
Shares of CHK opened at $1.76 on Thursday. The company has a market cap of $3.10 billion, a P/E ratio of 2.75 and a beta of 2.55. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.47 and a current ratio of 0.47. Chesapeake Energy Co. has a twelve month low of $1.71 and a twelve month high of $5.60.
Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $929.00 million for the quarter, compared to the consensus estimate of $1.13 billion. Chesapeake Energy had a net margin of 5.39% and a negative return on equity of 138.70%. Chesapeake Energy’s revenue was down 25.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. Analysts predict that Chesapeake Energy Co. will post -0.06 earnings per share for the current year.
About Chesapeake Energy
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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.
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