River & Mercantile Asset Management LLP Lowers Holdings in Chesapeake Energy Co. (CHK)

River & Mercantile Asset Management LLP lessened its position in shares of Chesapeake Energy Co. (NYSE:CHK) by 19.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,288,864 shares of the oil and gas exploration company’s stock after selling 312,000 shares during the period. River & Mercantile Asset Management LLP owned about 0.14% of Chesapeake Energy worth $5,793,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Chesapeake Energy by 31.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,738,166 shares of the oil and gas exploration company’s stock valued at $52,703,000 after acquiring an additional 2,777,313 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Chesapeake Energy by 88.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,962,748 shares of the oil and gas exploration company’s stock valued at $52,205,000 after acquiring an additional 4,671,610 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Chesapeake Energy by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,775,942 shares of the oil and gas exploration company’s stock valued at $51,227,000 after acquiring an additional 161,327 shares in the last quarter. Huber Capital Management LLC grew its holdings in shares of Chesapeake Energy by 69.6% in the 3rd quarter. Huber Capital Management LLC now owns 8,505,309 shares of the oil and gas exploration company’s stock valued at $38,189,000 after acquiring an additional 3,491,496 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Chesapeake Energy in the 3rd quarter valued at about $35,840,000. Hedge funds and other institutional investors own 58.71% of the company’s stock.

Shares of NYSE:CHK opened at $2.72 on Friday. Chesapeake Energy Co. has a 52-week low of $2.53 and a 52-week high of $5.60. The stock has a market capitalization of $2.49 billion, a P/E ratio of 3.32, a PEG ratio of 0.33 and a beta of 1.92.

Chesapeake Energy (NYSE:CHK) last issued its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $0.12 EPS. Chesapeake Energy’s revenue was up 22.5% on a year-over-year basis. Equities analysts predict that Chesapeake Energy Co. will post 0.85 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on CHK shares. Zacks Investment Research upgraded Chesapeake Energy from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Thursday, October 25th. TheStreet upgraded shares of Chesapeake Energy from a “d+” rating to a “c-” rating in a research note on Wednesday, October 31st. Morgan Stanley assumed coverage on shares of Chesapeake Energy in a research note on Thursday, October 4th. They issued an “equal weight” rating and a $5.00 target price for the company. Imperial Capital cut their target price on shares of Chesapeake Energy from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Finally, SunTrust Banks downgraded shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Chesapeake Energy presently has a consensus rating of “Hold” and an average target price of $4.61.

In related news, EVP James R. Webb acquired 50,000 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was purchased at an average cost of $3.54 per share, for a total transaction of $177,000.00. Following the completion of the transaction, the executive vice president now directly owns 871,548 shares of the company’s stock, valued at approximately $3,085,279.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

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Chesapeake Energy Company Profile

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 Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.

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Institutional Ownership by Quarter for Chesapeake Energy (NYSE:CHK)

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