River & Mercantile Asset Management LLP trimmed its position in Chesapeake Energy Co. (NYSE:CHK) by 19.5% during the third quarter, Holdings Channel reports. The fund owned 1,288,864 shares of the oil and gas exploration company’s stock after selling 312,000 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in Chesapeake Energy were worth $5,793,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Greylin Investment Mangement Inc. increased its stake in Chesapeake Energy by 3.0% in the second quarter. Greylin Investment Mangement Inc. now owns 405,685 shares of the oil and gas exploration company’s stock valued at $2,126,000 after acquiring an additional 11,810 shares during the last quarter. North Star Asset Management Inc. grew its stake in shares of Chesapeake Energy by 1.5% during the third quarter. North Star Asset Management Inc. now owns 946,911 shares of the oil and gas exploration company’s stock worth $4,252,000 after buying an additional 14,365 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Chesapeake Energy by 7.8% during the third quarter. Wedge Capital Management L L P NC now owns 199,970 shares of the oil and gas exploration company’s stock worth $898,000 after buying an additional 14,468 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Chesapeake Energy by 16.0% during the third quarter. Janney Montgomery Scott LLC now owns 106,117 shares of the oil and gas exploration company’s stock worth $476,000 after buying an additional 14,625 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Chesapeake Energy by 2.3% during the third quarter. Arizona State Retirement System now owns 647,760 shares of the oil and gas exploration company’s stock worth $2,908,000 after buying an additional 14,707 shares during the last quarter. 58.71% of the stock is currently owned by institutional investors and hedge funds.
CHK has been the topic of a number of research reports. Imperial Capital decreased their target price on shares of Chesapeake Energy from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. MKM Partners initiated coverage on shares of Chesapeake Energy in a research note on Wednesday. They set a “neutral” rating and a $3.00 target price on the stock. Morgan Stanley reaffirmed a “hold” rating and set a $6.00 target price (up previously from $5.00) on shares of Chesapeake Energy in a research note on Friday, October 12th. Zacks Investment Research cut shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. Finally, Wolfe Research cut shares of Chesapeake Energy from a “peer perform” rating to an “underperform” rating in a research note on Thursday, August 16th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Chesapeake Energy presently has a consensus rating of “Hold” and a consensus target price of $4.61.
Shares of NYSE:CHK opened at $2.72 on Friday. The firm has a market cap of $2.49 billion, a PE ratio of 3.32, a price-to-earnings-growth ratio of 0.33 and a beta of 1.92. Chesapeake Energy Co. has a 52 week low of $2.53 and a 52 week high of $5.60.
Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. Chesapeake Energy’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. Research analysts forecast that Chesapeake Energy Co. will post 0.85 EPS for the current year.
In other Chesapeake Energy news, EVP James R. Webb purchased 50,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were bought at an average price of $3.54 per share, for a total transaction of $177,000.00. Following the completion of the acquisition, the executive vice president now owns 871,548 shares in the company, valued at $3,085,279.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.
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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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