Amica Mutual Insurance Co. maintained its position in Chesapeake Energy Co. (NYSE:CHK) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,756 shares of the oil and gas exploration company’s stock at the end of the first quarter. Amica Mutual Insurance Co.’s holdings in Chesapeake Energy were worth $201,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Viking Global Investors LP bought a new position in Chesapeake Energy during the fourth quarter valued at approximately $160,505,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Chesapeake Energy during the fourth quarter valued at approximately $95,716,000. Allianz Asset Management AG increased its position in Chesapeake Energy by 511.4% in the fourth quarter. Allianz Asset Management AG now owns 8,521,908 shares of the oil and gas exploration company’s stock valued at $59,824,000 after buying an additional 10,593,589 shares during the period. Norges Bank bought a new position in Chesapeake Energy during the fourth quarter valued at approximately $56,791,000. Finally, State Street Corp increased its position in Chesapeake Energy by 18.9% in the fourth quarter. State Street Corp now owns 41,308,984 shares of the oil and gas exploration company’s stock valued at $289,984,000 after buying an additional 6,558,367 shares during the period. 66.74% of the stock is currently owned by hedge funds and other institutional investors.
Chesapeake Energy Co. (NYSE:CHK) traded up 6.43% during mid-day trading on Friday, reaching $5.46. The company’s stock had a trading volume of 61,975,660 shares. Chesapeake Energy Co. has a 12-month low of $3.56 and a 12-month high of $8.20. The firm’s 50 day moving average is $5.59 and its 200-day moving average is $6.19. The company’s market cap is $4.84 billion. Chesapeake Energy also was the recipient of some unusual options trading on Wednesday. Traders bought 7,028 call options on the stock. This is an increase of approximately 133% compared to the average daily volume of 3,012 call options.
Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas exploration company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The company earned $1.47 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business posted ($0.10) EPS. Equities analysts anticipate that Chesapeake Energy Co. will post $0.76 earnings per share for the current fiscal year.
CHK has been the topic of several recent research reports. Barclays PLC raised their price objective on Chesapeake Energy from $4.00 to $5.00 and gave the stock an “underweight” rating in a research note on Thursday, January 26th. Stifel Nicolaus initiated coverage on Chesapeake Energy in a research note on Thursday, March 23rd. They issued a “buy” rating and a $10.00 price objective on the stock. Jefferies Group LLC raised Chesapeake Energy from an “underperform” rating to a “hold” rating in a research note on Tuesday, January 31st. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Chesapeake Energy in a research note on Saturday, January 21st. Finally, Wunderlich reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Chesapeake Energy in a research note on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $7.42.
In related news, Director Archie W. Dunham purchased 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was purchased at an average price of $5.24 per share, with a total value of $2,620,000.00. Following the completion of the acquisition, the director now owns 4,637,717 shares in the company, valued at $24,301,637.08. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.
About Chesapeake Energy
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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