Arizona State Retirement System grew its stake in Chesapeake Energy Co. (NYSE:CHK) by 14.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 749,872 shares of the oil and gas exploration company’s stock after buying an additional 94,067 shares during the period. Arizona State Retirement System’s holdings in Chesapeake Energy were worth $2,325,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Nwam LLC increased its stake in shares of Chesapeake Energy by 8.2% in the fourth quarter. Nwam LLC now owns 68,806 shares of the oil and gas exploration company’s stock valued at $144,000 after buying an additional 5,191 shares during the period. North Star Asset Management Inc. increased its stake in shares of Chesapeake Energy by 0.7% in the fourth quarter. North Star Asset Management Inc. now owns 953,226 shares of the oil and gas exploration company’s stock valued at $2,002,000 after buying an additional 6,315 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Chesapeake Energy by 111.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 762,495 shares of the oil and gas exploration company’s stock valued at $363,000 after buying an additional 402,081 shares during the period. Magnus Financial Group LLC acquired a new stake in shares of Chesapeake Energy in the fourth quarter valued at about $141,000. Finally, SOL Capital Management CO boosted its position in shares of Chesapeake Energy by 42.3% during the 4th quarter. SOL Capital Management CO now owns 137,365 shares of the oil and gas exploration company’s stock valued at $288,000 after purchasing an additional 40,800 shares in the last quarter. 58.81% of the stock is owned by institutional investors.
Several brokerages recently commented on CHK. UBS Group set a $2.00 target price on Chesapeake Energy and gave the company a “sell” rating in a research report on Monday, January 14th. Citigroup upped their target price on Chesapeake Energy from $2.50 to $3.50 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. TheStreet lowered Chesapeake Energy from a “c” rating to a “d+” rating in a research report on Wednesday. Guggenheim restated a “neutral” rating on shares of Chesapeake Energy in a research report on Wednesday, April 17th. Finally, Goldman Sachs Group lowered Chesapeake Energy from a “neutral” rating to a “sell” rating and cut their target price for the company from $2.75 to $2.50 in a research report on Friday, April 12th. They noted that the move was a valuation call. Ten analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $4.01.
Shares of NYSE:CHK opened at $2.61 on Friday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 2.90, a PEG ratio of 0.69 and a beta of 2.39. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.57 and a current ratio of 0.47. Chesapeake Energy Co. has a 52-week low of $1.71 and a 52-week high of $5.60.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $1.13 billion. Chesapeake Energy had a negative return on equity of 138.70% and a net margin of 5.39%. The firm’s revenue was down 25.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. Equities research analysts anticipate that Chesapeake Energy Co. will post 0.62 earnings per share for the current year.
In other Chesapeake Energy news, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $3.29, for a total value of $19,456,191.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.
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Chesapeake Energy 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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