OppenheimerFunds Inc. boosted its stake in shares of Chesapeake Energy Co. (NYSE:CHK) by 30.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,666 shares of the oil and gas exploration company’s stock after purchasing an additional 94,940 shares during the quarter. OppenheimerFunds Inc.’s holdings in Chesapeake Energy were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of CHK. Nationwide Fund Advisors boosted its position in Chesapeake Energy by 9.0% during the third quarter. Nationwide Fund Advisors now owns 238,475 shares of the oil and gas exploration company’s stock valued at $1,025,000 after purchasing an additional 19,739 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Chesapeake Energy during the third quarter valued at about $170,000. Prudential Financial Inc. boosted its position in Chesapeake Energy by 7.1% during the third quarter. Prudential Financial Inc. now owns 1,087,138 shares of the oil and gas exploration company’s stock valued at $4,675,000 after purchasing an additional 72,000 shares in the last quarter. Principal Financial Group Inc. boosted its position in Chesapeake Energy by 12.3% during the third quarter. Principal Financial Group Inc. now owns 1,374,653 shares of the oil and gas exploration company’s stock valued at $5,911,000 after purchasing an additional 150,899 shares in the last quarter. Finally, Swiss National Bank boosted its position in Chesapeake Energy by 1.9% during the third quarter. Swiss National Bank now owns 1,518,603 shares of the oil and gas exploration company’s stock valued at $6,530,000 after purchasing an additional 27,700 shares in the last quarter. 61.93% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Chesapeake Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. ValuEngine cut Chesapeake Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. UBS Group assumed coverage on Chesapeake Energy in a research note on Wednesday, March 7th. They issued a “buy” rating and a $2.80 price target for the company. BMO Capital Markets set a $4.00 price target on Chesapeake Energy and gave the company a “hold” rating in a research note on Tuesday, November 14th. Finally, Scotiabank set a $4.00 price target on Chesapeake Energy and gave the company a “hold” rating in a research note on Wednesday, November 22nd. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $5.00.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. Chesapeake Energy had a negative return on equity of 32.26% and a net margin of 9.73%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. research analysts anticipate that Chesapeake Energy Co. will post 0.78 EPS for the current year.
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Chesapeake Energy 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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