Chesapeake Energy Sees Unusually High Options Volume (CHK)
Chesapeake Energy Co. (NYSE:CHK) saw some unusual options trading on Thursday. Stock traders acquired 34,287 put options on the stock. This is an increase of approximately 275% compared to the typical daily volume of 9,149 put options.
In other Chesapeake Energy news, Director Archie W. Dunham bought 500,000 shares of the stock in a transaction on Wednesday, March 8th. The shares were bought at an average price of $5.24 per share, with a total value of $2,620,000.00. Following the purchase, the director now directly owns 4,637,717 shares in the company, valued at approximately $24,301,637.08. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. North Star Asset Management Inc. raised its position in shares of Chesapeake Energy by 11.4% in the first quarter. North Star Asset Management Inc. now owns 739,420 shares of the oil and gas exploration company’s stock valued at $4,392,000 after buying an additional 75,765 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Chesapeake Energy by 314.3% in the first quarter. Bank of Nova Scotia now owns 206,715 shares of the oil and gas exploration company’s stock worth $1,228,000 after buying an additional 156,820 shares in the last quarter. First Financial Equity Corporation purchased a new stake in shares of Chesapeake Energy during the first quarter worth $479,000. 10 15 Associates Inc. raised its stake in shares of Chesapeake Energy by 6.8% in the first quarter. 10 15 Associates Inc. now owns 44,864 shares of the oil and gas exploration company’s stock worth $266,000 after buying an additional 2,866 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Chesapeake Energy by 11.9% in the first quarter. HighTower Advisors LLC now owns 59,667 shares of the oil and gas exploration company’s stock worth $355,000 after buying an additional 6,367 shares in the last quarter. Institutional investors own 66.74% of the company’s stock.
Several brokerages recently commented on CHK. Barclays PLC boosted their price target on Chesapeake Energy from $4.00 to $5.00 and gave the company an “underweight” rating in a research note on Thursday, January 26th. Stifel Nicolaus began coverage on Chesapeake Energy in a research note on Thursday, March 23rd. They issued a “buy” rating and a $10.00 price target for the company. Jefferies Group LLC raised Chesapeake Energy from an “underperform” rating to a “hold” rating in a research note on Tuesday, January 31st. Royal Bank of Canada reissued a “hold” rating and issued a $7.00 price target on shares of Chesapeake Energy in a research note on Tuesday, April 25th. Finally, ValuEngine raised Chesapeake Energy from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Chesapeake Energy presently has an average rating of “Hold” and a consensus price target of $7.35.
Shares of Chesapeake Energy (NYSE:CHK) traded down 6.67% on Thursday, hitting $5.18. The company had a trading volume of 57,111,934 shares. The firm has a 50-day moving average price of $5.65 and a 200 day moving average price of $6.16. The company’s market capitalization is $4.61 billion. Chesapeake Energy has a 12-month low of $3.93 and a 12-month high of $8.20.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data on Thursday, May 4th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned ($0.10) earnings per share. Equities analysts expect that Chesapeake Energy will post $0.87 EPS for the current year.
Chesapeake Energy Company Profile
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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