Oarsman Capital Inc. Decreases Position in Chesapeake Energy Corporation (CHK)

Oarsman Capital Inc. Decreases Position in Chesapeake Energy Corporation (CHK)

Oarsman Capital Inc. decreased its stake in shares of Chesapeake Energy Corporation (NYSE:CHK) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 133,975 shares of the oil and gas exploration company’s stock after selling 4,000 shares during the period. Oarsman Capital Inc.’s holdings in Chesapeake Energy Corporation were worth $941,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in CHK. Harris Associates L P raised its position in shares of Chesapeake Energy Corporation by 1,007.7% in the third quarter. Harris Associates L P now owns 33,340,440 shares of the oil and gas exploration company’s stock valued at $209,045,000 after buying an additional 30,330,440 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Chesapeake Energy Corporation during the fourth quarter valued at approximately $95,716,000. Vanguard Group Inc. raised its position in shares of Chesapeake Energy Corporation by 13.7% in the second quarter. Vanguard Group Inc. now owns 56,159,572 shares of the oil and gas exploration company’s stock valued at $240,364,000 after buying an additional 6,754,588 shares in the last quarter. State Street Corp raised its position in shares of Chesapeake Energy Corporation 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 in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new position in shares of Chesapeake Energy Corporation during the second quarter valued at approximately $22,374,000. Hedge funds and other institutional investors own 64.78% of the company’s stock.

Chesapeake Energy Corporation (NYSE:CHK) traded up 3.10% during trading on Thursday, reaching $6.31. The company’s stock had a trading volume of 31,648,002 shares. The company’s market capitalization is $4.84 billion. Chesapeake Energy Corporation has a 52 week low of $1.53 and a 52 week high of $8.20. The company has a 50 day moving average price of $6.88 and a 200-day moving average price of $6.44.

A number of equities research analysts recently weighed in on the company. Barclays PLC raised their price objective on Chesapeake Energy Corporation from $4.00 to $5.00 and gave the company an “underweight” rating in a research report on Thursday, January 26th. FBR & Co reaffirmed an “underperform” rating and set a $5.00 price objective on shares of Chesapeake Energy Corporation in a research report on Wednesday, December 7th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Chesapeake Energy Corporation in a research report on Saturday, January 21st. Jefferies Group LLC raised Chesapeake Energy Corporation from an “underperform” rating to a “hold” rating in a research report on Tuesday, January 31st. Finally, Wunderlich reaffirmed a “buy” rating and set a $10.00 price objective on shares of Chesapeake Energy Corporation in a research report on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $7.88.

About Chesapeake Energy Corporation

Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.

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