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Chesapeake Energy Co. (NYSE:CHK) was the target of unusually large options trading on Thursday. Stock investors acquired 29,476 call options on the stock. This is an increase of approximately 104% compared to the typical volume of 14,424 call options.
In other news, Director Thomas L. Ryan bought 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was purchased at an average price of $5.00 per share, with a total value of $375,000.00. Following the completion of the acquisition, the director now directly owns 440,355 shares of the company’s stock, valued at approximately $2,201,775. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Archie W. Dunham purchased 500,000 shares of Chesapeake Energy stock in a transaction that occurred on Wednesday, March 8th. The shares were bought at an average price of $5.24 per share, with a total value of $2,620,000.00. Following the completion of the transaction, the director now owns 4,637,717 shares of the company’s stock, valued at approximately $24,301,637.08. The disclosure for this purchase can be found here. In the last three months, insiders acquired 595,000 shares of company stock valued at $3,100,200. Corporate insiders own 1.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. SOL Capital Management CO increased its position in Chesapeake Energy by 1.6% in the third quarter. SOL Capital Management CO now owns 61,750 shares of the oil and gas exploration company’s stock worth $387,000 after buying an additional 1,000 shares during the period. Icon Advisers Inc. Co. increased its position in Chesapeake Energy by 28.5% in the third quarter. Icon Advisers Inc. Co. now owns 1,302,850 shares of the oil and gas exploration company’s stock worth $8,169,000 after buying an additional 289,000 shares during the period. Segantii Capital Management Ltd bought a new position in Chesapeake Energy during the third quarter worth $3,060,000. American International Group Inc. increased its position in Chesapeake Energy by 4.8% in the third quarter. American International Group Inc. now owns 237,146 shares of the oil and gas exploration company’s stock worth $1,487,000 after buying an additional 10,926 shares during the period. Finally, Suntrust Banks Inc. increased its position in Chesapeake Energy by 161.8% in the third quarter. Suntrust Banks Inc. now owns 38,787 shares of the oil and gas exploration company’s stock worth $242,000 after buying an additional 23,970 shares during the period. 66.74% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on CHK. JPMorgan Chase & Co. reduced their price target on Chesapeake Energy from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday. Royal Bank of Canada set a $7.00 price target on Chesapeake Energy and gave the company a “hold” rating in a research report on Monday, May 29th. ValuEngine cut Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Monday, May 29th. Scotiabank restated a “hold” rating and issued a $6.00 price objective on shares of Chesapeake Energy in a research report on Monday, May 15th. Finally, FBR & Co restated a “sell” rating on shares of Chesapeake Energy in a research report on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $7.25.
Chesapeake Energy (NYSE CHK) traded down 2.75% on Friday, hitting $4.96. The stock had a trading volume of 46,905,638 shares. The firm’s market cap is $4.42 billion. Chesapeake Energy has a 12-month low of $3.93 and a 12-month high of $8.20. The company’s 50 day moving average is $5.45 and its 200 day moving average is $6.14.
Chesapeake Energy (NYSE:CHK) last announced its earnings results on Thursday, May 4th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm earned ($0.10) earnings per share. On average, equities research analysts expect that Chesapeake Energy will post $0.86 EPS for the current fiscal year.
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Chesapeake Energy Company Profile
Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.
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