State of Tennessee Treasury Department Increases Holdings in Chesapeake Energy Corporation (CHK)

State of Tennessee Treasury Department raised its stake in Chesapeake Energy Corporation (NYSE:CHK) by 69.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 352,397 shares of the oil and gas exploration company’s stock after buying an additional 144,359 shares during the quarter. State of Tennessee Treasury Department’s holdings in Chesapeake Energy Corporation were worth $1,752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Swiss National Bank lifted its stake in Chesapeake Energy Corporation by 13.3% in the second quarter. Swiss National Bank now owns 1,490,903 shares of the oil and gas exploration company’s stock valued at $7,410,000 after buying an additional 174,900 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in shares of Chesapeake Energy Corporation in the second quarter worth $1,524,000. Principal Financial Group Inc. lifted its position in shares of Chesapeake Energy Corporation by 6.7% in the second quarter. Principal Financial Group Inc. now owns 1,223,754 shares of the oil and gas exploration company’s stock worth $6,082,000 after purchasing an additional 76,377 shares in the last quarter. Stuyvesant Capital Management lifted its position in shares of Chesapeake Energy Corporation by 5.6% in the second quarter. Stuyvesant Capital Management now owns 442,400 shares of the oil and gas exploration company’s stock worth $2,199,000 after purchasing an additional 23,400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Chesapeake Energy Corporation by 54.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,105 shares of the oil and gas exploration company’s stock worth $189,000 after purchasing an additional 13,362 shares in the last quarter. 64.46% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Energy Corporation (CHK) opened at 4.04 on Wednesday. Chesapeake Energy Corporation has a 1-year low of $3.55 and a 1-year high of $8.20. The firm’s market capitalization is $3.60 billion. The company has a 50 day moving average of $3.99 and a 200 day moving average of $4.93.

Chesapeake Energy Corporation (NYSE:CHK) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted ($0.14) EPS. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. On average, equities research analysts anticipate that Chesapeake Energy Corporation will post $0.76 earnings per share for the current year.

CHK has been the topic of a number of research reports. Vetr raised shares of Chesapeake Energy Corporation from a “sell” rating to a “hold” rating and set a $4.80 price objective on the stock in a research report on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating on shares of Chesapeake Energy Corporation in a research report on Friday, July 21st. Wolfe Research initiated coverage on shares of Chesapeake Energy Corporation in a research report on Thursday, June 15th. They issued a “market perform” rating and a $5.50 price objective on the stock. ValuEngine lowered shares of Chesapeake Energy Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Scotiabank set a $5.00 price objective on shares of Chesapeake Energy Corporation and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Chesapeake Energy Corporation has an average rating of “Hold” and a consensus price target of $6.29.

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In other news, Director R Brad Martin acquired 20,400 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was bought at an average price of $4.55 per share, with a total value of $92,820.00. Following the acquisition, the director now owns 522,358 shares in the company, valued at approximately $2,376,728.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.14% of the company’s stock.

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.

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

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