Chesapeake Energy (NASDAQ:CHKEL) Stock Price Up 10.4% – Here’s Why

Chesapeake Energy Co. (NASDAQ:CHKEL)’s stock price shot up 10.4% during mid-day trading on Wednesday . The stock traded as high as $96.42 and last traded at $96.27. 14,178 shares changed hands during trading, an increase of 1,245% from the average session volume of 1,054 shares. The stock had previously closed at $87.22.

Chesapeake Energy Price Performance

The stock has a fifty day moving average price of $90.87 and a 200 day moving average price of $78.79.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new position in shares of Chesapeake Energy during the 4th quarter valued at $27,000. JPMorgan Chase & Co. bought a new stake in Chesapeake Energy during the fourth quarter valued at $52,000. Franklin Resources Inc. purchased a new position in Chesapeake Energy during the fourth quarter worth about $137,000. Deltec Asset Management LLC bought a new position in Chesapeake Energy in the 4th quarter worth about $156,000. Finally, GTS Securities LLC purchased a new stake in shares of Chesapeake Energy in the 4th quarter valued at about $313,000.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.