IFG Advisory LLC purchased a new stake in Chesapeake Energy Co. (NYSE:CHK) during the 1st quarter, Holdings Channel reports. The firm purchased 11,023 shares of the oil and gas exploration company’s stock, valued at approximately $34,000.
Other hedge funds have also modified their holdings of the company. Piedmont Investment Advisors Inc. increased its stake in shares of Chesapeake Energy by 56.3% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 38,053 shares of the oil and gas exploration company’s stock worth $118,000 after purchasing an additional 13,709 shares during the last quarter. Barings LLC acquired a new position in Chesapeake Energy in the 1st quarter valued at about $146,000. Great West Life Assurance Co. Can grew its stake in Chesapeake Energy by 21.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 640,849 shares of the oil and gas exploration company’s stock valued at $1,985,000 after buying an additional 113,433 shares during the last quarter. Cedar Brook Financial Partners LLC acquired a new position in Chesapeake Energy in the 1st quarter valued at about $31,000. Finally, Providence Capital Advisors LLC acquired a new position in Chesapeake Energy in the 1st quarter valued at about $70,000. Hedge funds and other institutional investors own 47.64% of the company’s stock.
In other Chesapeake Energy news, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3.29, for a total value of $19,456,191.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company’s stock.
Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings data on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $1.13 billion. Chesapeake Energy had a net margin of 5.39% and a negative return on equity of 138.70%. The business’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. On average, research analysts forecast that Chesapeake Energy Co. will post -0.07 EPS for the current fiscal year.
A number of research analysts recently commented on CHK shares. Raymond James set a $5.00 price target on shares of Chesapeake Energy and gave the company a “buy” rating in a research note on Tuesday, March 19th. TheStreet lowered shares of Chesapeake Energy from a “c” rating to a “d+” rating in a research note on Wednesday, May 8th. SunTrust Banks reiterated a “hold” rating on shares of Chesapeake Energy in a research note on Wednesday, May 8th. MKM Partners set a $3.00 price target on shares of Chesapeake Energy and gave the company a “hold” rating in a research note on Tuesday, March 5th. Finally, Citigroup upped their price target on shares of Chesapeake Energy from $2.50 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Ten analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $4.01.
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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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.
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