Chesapeake Energy (NYSE:CHK) Shares Gap Up Following Insider Buying Activity

Chesapeake Energy Co. (NYSE:CHK) gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $0.60, but opened at $0.70. Chesapeake Energy shares last traded at $0.70, with a volume of 57,706,531 shares traded.

Specifically, CAO William M. Buergler acquired 70,681 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were bought at an average cost of $0.71 per share, with a total value of $50,183.51. Following the purchase, the chief accounting officer now directly owns 408,221 shares of the company’s stock, valued at $289,836.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Brad Martin acquired 250,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was acquired at an average cost of $0.91 per share, for a total transaction of $227,500.00. Insiders have acquired a total of 370,681 shares of company stock worth $323,184 over the last ninety days. Company insiders own 1.90% of the company’s stock.

CHK has been the topic of a number of recent analyst reports. ValuEngine raised Chesapeake Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Raymond James downgraded Chesapeake Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 8th. MKM Partners dropped coverage on Chesapeake Energy in a research note on Tuesday, October 8th. SunTrust Banks set a $2.00 price objective on Chesapeake Energy and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research raised Chesapeake Energy from a “sell” rating to a “hold” rating and set a $2.50 price objective on the stock in a research note on Tuesday, September 17th. Seven investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Chesapeake Energy currently has an average rating of “Hold” and an average target price of $2.79.

The business has a 50 day moving average of $1.28 and a two-hundred day moving average of $1.72. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 0.78 and a beta of 2.45.

Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Tuesday, November 5th. The oil and gas exploration company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Chesapeake Energy had a return on equity of 9.01% and a net margin of 5.46%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $0.19 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that Chesapeake Energy Co. will post -0.28 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CHK. XR Securities LLC bought a new stake in Chesapeake Energy during the 3rd quarter worth approximately $25,000. Cresset Asset Management LLC bought a new stake in Chesapeake Energy during the 2nd quarter worth approximately $30,000. Moneta Group Investment Advisors LLC increased its holdings in Chesapeake Energy by 169.7% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 44,378 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 27,926 shares in the last quarter. Howard Financial Services LTD. increased its holdings in Chesapeake Energy by 75.0% during the 2nd quarter. Howard Financial Services LTD. now owns 17,500 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Spears Abacus Advisors LLC bought a new stake in Chesapeake Energy during the 2nd quarter worth approximately $42,000. 68.90% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Energy Company Profile (NYSE:CHK)

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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