Peak Asset Management LLC purchased a new position in shares of Chesapeake Energy Co. (NYSE:CHK) in the fourth quarter, HoldingsChannel reports. The firm purchased 12,500 shares of the oil and gas exploration company’s stock, valued at approximately $26,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHK. Nwam LLC lifted its stake in Chesapeake Energy by 8.2% during the 4th quarter. Nwam LLC now owns 68,806 shares of the oil and gas exploration company’s stock worth $144,000 after acquiring an additional 5,191 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Chesapeake Energy by 9.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,398 shares of the oil and gas exploration company’s stock worth $133,000 after acquiring an additional 5,556 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Chesapeake Energy by 0.5% during the 4th quarter. Retirement Systems of Alabama now owns 1,184,662 shares of the oil and gas exploration company’s stock worth $2,488,000 after acquiring an additional 5,724 shares in the last quarter. Oakbrook Investments LLC lifted its stake in Chesapeake Energy by 6.8% during the 4th quarter. Oakbrook Investments LLC now owns 99,000 shares of the oil and gas exploration company’s stock worth $208,000 after acquiring an additional 6,300 shares in the last quarter. Finally, North Star Asset Management Inc. lifted its stake in Chesapeake Energy by 0.7% during the 4th quarter. North Star Asset Management Inc. now owns 953,226 shares of the oil and gas exploration company’s stock worth $2,002,000 after acquiring an additional 6,315 shares in the last quarter. Institutional investors and hedge funds own 58.81% of the company’s stock.
In other news, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of the stock in a transaction dated Thursday, March 21st. The stock was 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 SEC, which is accessible through this hyperlink. Also, Director Thomas L. Ryan acquired 200,000 shares of the company’s stock in a transaction dated Monday, December 24th. The stock was acquired at an average price of $1.81 per share, for a total transaction of $362,000.00. Following the acquisition, the director now owns 563,519 shares in the company, valued at approximately $1,019,969.39. The disclosure for this purchase can be found here. 1.70% of the stock is owned by company insiders.
Several equities analysts recently issued reports on the company. UBS Group set a $2.00 target price on Chesapeake Energy and gave the stock a “sell” rating in a research note on Monday, January 14th. JPMorgan Chase & Co. lowered Chesapeake Energy from a “neutral” rating to an “underweight” rating and set a $2.72 target price on the stock. in a research note on Friday, December 7th. Citigroup increased their target price on Chesapeake Energy from $2.50 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Imperial Capital decreased their target price on Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating on the stock in a research note on Thursday, January 10th. Finally, SunTrust Banks reissued a “hold” rating and set a $3.00 target price on shares of Chesapeake Energy in a research note on Thursday, November 29th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Chesapeake Energy currently has a consensus rating of “Hold” and an average price target of $4.12.
CHK stock opened at $3.12 on Friday. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 3.47, a P/E/G ratio of 1.05 and a beta of 2.44. Chesapeake Energy Co. has a 1 year low of $1.71 and a 1 year high of $5.60.
Chesapeake Energy (NYSE:CHK) last posted its quarterly earnings results on Wednesday, February 27th. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Chesapeake Energy had a negative return on equity of 58.05% and a net margin of 8.31%. Chesapeake Energy’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 EPS. Equities research analysts expect that Chesapeake Energy Co. will post 0.55 earnings per share for the current fiscal year.
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About Chesapeake Energy
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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