Texas Permanent School Fund lifted its position in shares of Chesapeake Energy Co. (NYSE:CHK) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 597,921 shares of the oil and gas exploration company’s stock after acquiring an additional 23,915 shares during the quarter. Texas Permanent School Fund owned 0.07% of Chesapeake Energy worth $1,256,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Sigma Planning Corp purchased a new stake in Chesapeake Energy in the 4th quarter valued at approximately $25,000. Garrison Point Advisors LLC purchased a new stake in Chesapeake Energy in the 4th quarter valued at approximately $25,000. WINTON GROUP Ltd purchased a new stake in Chesapeake Energy in the 4th quarter valued at approximately $27,000. Wealth Architects LLC purchased a new stake in Chesapeake Energy in the 4th quarter valued at approximately $28,000. Finally, Moneta Group Investment Advisors LLC purchased a new stake in Chesapeake Energy in the 4th quarter valued at approximately $35,000. 58.81% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. MKM Partners assumed coverage on Chesapeake Energy in a report on Wednesday, December 5th. They issued a “neutral” rating and a $3.00 price target for the company. Zacks Investment Research downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Bank of America downgraded Chesapeake Energy from a “neutral” rating to an “underperform” rating in a report on Friday, January 4th. Piper Jaffray Companies reiterated a “hold” rating and issued a $5.00 price target on shares of Chesapeake Energy in a report on Monday, November 19th. Finally, Capital One Financial downgraded Chesapeake Energy from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Nine analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $4.05.
Chesapeake Energy (NYSE:CHK) last released its quarterly earnings data on Wednesday, February 27th. The oil and gas exploration company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Chesapeake Energy had a negative return on equity of 58.05% and a net margin of 8.31%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. As a group, equities analysts forecast that Chesapeake Energy Co. will post 0.55 earnings per share for the current year.
In other news, Director Archie W. Dunham acquired 2,100,000 shares of the company’s stock in a transaction dated Friday, December 21st. The stock was acquired at an average cost of $1.97 per share, for a total transaction of $4,137,000.00. Following the acquisition, the director now directly owns 9,347,375 shares in the company, valued at approximately $18,414,328.75. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas L. Ryan acquired 200,000 shares of the company’s stock in a transaction dated Monday, December 24th. The shares were purchased at an average price of $1.81 per share, with a total value of $362,000.00. Following the completion of the acquisition, the director now owns 563,519 shares in the company, valued at $1,019,969.39. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,730,000 shares of company stock valued at $7,597,400. Insiders own 1.70% of the company’s stock.
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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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