SOL Capital Management CO Lowers Holdings in Chesapeake Energy Co. (NYSE:CHK)

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SOL Capital Management CO reduced its position in Chesapeake Energy Co. (NYSE:CHK) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,475 shares of the oil and gas exploration company’s stock after selling 13,230 shares during the period. SOL Capital Management CO’s holdings in Chesapeake Energy were worth $198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aperio Group LLC lifted its stake in shares of Chesapeake Energy by 6.6% in the 2nd quarter. Aperio Group LLC now owns 306,079 shares of the oil and gas exploration company’s stock valued at $596,000 after purchasing an additional 19,017 shares in the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of Chesapeake Energy by 23.2% in the 2nd quarter. Cetera Advisor Networks LLC now owns 76,499 shares of the oil and gas exploration company’s stock valued at $151,000 after purchasing an additional 14,413 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Chesapeake Energy by 24.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 218,682 shares of the oil and gas exploration company’s stock valued at $426,000 after purchasing an additional 43,406 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new position in shares of Chesapeake Energy in the 2nd quarter valued at about $82,000. Finally, Westwood Holdings Group Inc. lifted its stake in shares of Chesapeake Energy by 1.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 8,008,400 shares of the oil and gas exploration company’s stock valued at $15,616,000 after purchasing an additional 132,677 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Energy stock traded down $0.02 during midday trading on Tuesday, hitting $1.35. 5,551,583 shares of the company were exchanged, compared to its average volume of 49,823,480. The company’s fifty day moving average price is $1.48 and its 200-day moving average price is $1.95. The company has a market cap of $2.11 billion, a PE ratio of 1.49 and a beta of 2.45. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.62 and a quick ratio of 0.62. Chesapeake Energy Co. has a fifty-two week low of $1.26 and a fifty-two week high of $4.76.

Chesapeake Energy (NYSE:CHK) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas exploration company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Chesapeake Energy had a return on equity of 90.53% and a net margin of 6.70%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm posted $0.15 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. On average, analysts expect that Chesapeake Energy Co. will post -0.27 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Chesapeake Energy from $2.50 to $2.25 and set an “overweight” rating on the stock in a research note on Monday, October 14th. SunTrust Banks set a $2.00 price objective on Chesapeake Energy and gave the company a “hold” rating in a research note on Wednesday, August 7th. Zacks Investment Research raised Chesapeake Energy from a “sell” rating to a “hold” rating and set a $2.50 price objective on the stock in a research note on Tuesday, September 17th. MKM Partners dropped coverage on Chesapeake Energy in a research note on Tuesday, October 8th. Finally, ValuEngine raised Chesapeake Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $3.05.

Chesapeake Energy 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 Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

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Institutional Ownership by Quarter for Chesapeake Energy (NYSE:CHK)

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