Dupont Capital Management Corp bought a new position in Chesapeake Energy Co. (NYSE:CHK) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 78,982 shares of the oil and gas exploration company’s stock, valued at approximately $166,000.
Several other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of Chesapeake Energy by 52.4% in the 4th quarter. Rhumbline Advisers now owns 2,337,502 shares of the oil and gas exploration company’s stock worth $4,909,000 after purchasing an additional 803,816 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Chesapeake Energy by 33.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 266,179 shares of the oil and gas exploration company’s stock worth $559,000 after purchasing an additional 66,209 shares during the period. Sigma Planning Corp bought a new position in shares of Chesapeake Energy in the 4th quarter worth approximately $25,000. Nwam LLC lifted its stake in shares of Chesapeake Energy by 8.2% in the 4th quarter. Nwam LLC now owns 68,806 shares of the oil and gas exploration company’s stock worth $144,000 after purchasing an additional 5,191 shares during the period. Finally, Gifford Fong Associates lifted its stake in shares of Chesapeake Energy by 100.0% in the 4th quarter. Gifford Fong Associates now owns 200,000 shares of the oil and gas exploration company’s stock worth $420,000 after purchasing an additional 100,000 shares during the period. 61.01% of the stock is currently owned by hedge funds and other institutional investors.
In other Chesapeake Energy news, Director R Brad Martin bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 11th. The stock was purchased at an average cost of $2.65 per share, with a total value of $132,500.00. Following the completion of the acquisition, the director now owns 727,900 shares in the company, valued at approximately $1,928,935. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Archie W. Dunham bought 2,100,000 shares of the business’s stock in a transaction that occurred on Friday, December 21st. The stock was acquired at an average cost of $1.97 per share, with a total value of $4,137,000.00. Following the completion of the acquisition, the director now owns 9,347,375 shares of the company’s stock, valued at approximately $18,414,328.75. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 3,805,000 shares of company stock valued at $7,788,650. 1.70% of the stock is currently owned by insiders.
CHK stock opened at $2.60 on Friday. Chesapeake Energy Co. has a fifty-two week low of $1.71 and a fifty-two week high of $5.60. The firm has a market capitalization of $2.48 billion, a P/E ratio of 3.17, a price-to-earnings-growth ratio of 0.64 and a beta of 2.37.
CHK has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. UBS Group set a $2.00 target price on shares of Chesapeake Energy and gave the stock a “sell” rating in a research note on Monday, January 14th. Raymond James raised their target price on shares of Chesapeake Energy from $3.50 to $4.00 and gave the stock an “outperform” rating in a research note on Friday, January 11th. Imperial Capital decreased their target price on shares of 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, Bank of America cut shares of Chesapeake Energy from a “neutral” rating to an “underperform” rating in a research note on Friday, January 4th. Nine investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $4.12.
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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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