Comerica Bank boosted its position in Chesapeake Energy Corporation (NYSE:CHK) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 247,383 shares of the oil and gas exploration company’s stock after purchasing an additional 11,956 shares during the quarter. Comerica Bank’s holdings in Chesapeake Energy Corporation were worth $1,153,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CHK. Cleararc Capital Inc. increased its stake in Chesapeake Energy Corporation by 2.8% during the 1st quarter. Cleararc Capital Inc. now owns 18,627 shares of the oil and gas exploration company’s stock valued at $111,000 after buying an additional 508 shares during the period. Fox Run Management L.L.C. acquired a new position in Chesapeake Energy Corporation during the 2nd quarter valued at about $115,000. V Wealth Management LLC increased its stake in Chesapeake Energy Corporation by 14.8% during the 2nd quarter. V Wealth Management LLC now owns 32,925 shares of the oil and gas exploration company’s stock valued at $145,000 after buying an additional 4,240 shares during the period. Two Sigma Securities LLC acquired a new position in Chesapeake Energy Corporation during the 1st quarter valued at about $152,000. Finally, Cigna Investments Inc. New increased its stake in Chesapeake Energy Corporation by 0.9% during the 2nd quarter. Cigna Investments Inc. New now owns 30,765 shares of the oil and gas exploration company’s stock valued at $153,000 after buying an additional 281 shares during the period. Hedge funds and other institutional investors own 64.51% of the company’s stock.
Shares of Chesapeake Energy Corporation (CHK) opened at 4.00 on Friday. The company’s 50 day moving average is $4.05 and its 200 day moving average is $4.96. The firm’s market capitalization is $3.57 billion. Chesapeake Energy Corporation has a 12-month low of $3.55 and a 12-month high of $8.20.
Chesapeake Energy Corporation (NYSE:CHK) last posted its earnings results on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Chesapeake Energy Corporation had a negative return on equity of 16.10% and a negative net margin of 9.52%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned ($0.14) EPS. Chesapeake Energy Corporation’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, analysts forecast that Chesapeake Energy Corporation will post $0.76 earnings per share for the current year.
Several equities analysts have commented on CHK shares. Scotiabank set a $5.00 target price on shares of Chesapeake Energy Corporation and gave the company a “hold” rating in a research note on Thursday, August 3rd. Vetr raised shares of Chesapeake Energy Corporation from a “buy” rating to a “strong-buy” rating and set a $5.23 target price on the stock in a research note on Monday, July 24th. Piper Jaffray Companies set a $6.00 target price on shares of Chesapeake Energy Corporation and gave the company a “hold” rating in a research note on Thursday, August 24th. Royal Bank Of Canada set a $7.00 target price on shares of Chesapeake Energy Corporation and gave the company a “hold” rating in a research note on Monday, May 29th. Finally, BidaskClub cut shares of Chesapeake Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Chesapeake Energy Corporation has an average rating of “Hold” and an average price target of $6.42.
In other Chesapeake Energy Corporation news, Director R Brad Martin bought 25,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $4.11 per share, with a total value of $102,750.00. Following the purchase, the director now owns 547,358 shares in the company, valued at $2,249,641.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/09/17/comerica-bank-purchases-11956-shares-of-chesapeake-energy-corporation-chk.html.
Chesapeake Energy Corporation 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.
Want to see what other hedge funds are holding CHK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chesapeake Energy Corporation (NYSE:CHK).
Receive News & Ratings for Chesapeake Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.