Chesapeake Energy Co. (NYSE:CHK) Major Shareholder Ngp Energy Capital Management, Sells 5,913,736 Shares

Chesapeake Energy Co. (NYSE:CHK) major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $3.29, for a total value of $19,456,191.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ngp Energy Capital Management, also recently made the following trade(s):

  • On Tuesday, March 26th, Ngp Energy Capital Management, sold 568,424 shares of Chesapeake Energy stock. The shares were sold at an average price of $3.25, for a total value of $1,847,378.00.

Shares of CHK stock traded down $0.10 during trading on Monday, hitting $3.07. 37,463,047 shares of the stock traded hands, compared to its average volume of 46,585,293. The firm has a market cap of $5.17 billion, a PE ratio of 3.41, a PEG ratio of 1.01 and a beta of 2.44. Chesapeake Energy Co. has a 52-week low of $1.71 and a 52-week high of $5.60.

Chesapeake Energy (NYSE:CHK) last announced its earnings results on Wednesday, February 27th. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Chesapeake Energy had a negative return on equity of 58.05% and a net margin of 8.31%. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 earnings per share. On average, sell-side analysts forecast that Chesapeake Energy Co. will post 0.58 EPS for the current fiscal year.

A number of research analysts have weighed in on CHK shares. Bank of America lowered shares of Chesapeake Energy from a “neutral” rating to an “underperform” rating in a research note on Friday, January 4th. Imperial Capital decreased their target price on shares of Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating on the stock in a research note on Thursday, January 10th. Raymond James raised their target price on shares of Chesapeake Energy from $3.50 to $4.00 and gave the stock an “outperform” rating in a research note on Friday, January 11th. Citigroup raised their target price on shares of Chesapeake Energy from $2.50 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Finally, UBS Group set a $2.00 price target on shares of Chesapeake Energy and gave the company a “sell” rating in a research report on Monday, January 14th. Nine analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Chesapeake Energy currently has a consensus rating of “Hold” and a consensus price target of $4.01.

A number of hedge funds and other institutional investors have recently made changes to their positions in CHK. Norges Bank purchased a new stake in Chesapeake Energy in the fourth quarter valued at approximately $21,828,000. Renaissance Technologies LLC purchased a new stake in Chesapeake Energy in the third quarter valued at approximately $35,840,000. Huber Capital Management LLC raised its position in Chesapeake Energy by 69.6% in the third quarter. Huber Capital Management LLC now owns 8,505,309 shares of the oil and gas exploration company’s stock valued at $38,189,000 after purchasing an additional 3,491,496 shares during the period. Dimensional Fund Advisors LP raised its position in Chesapeake Energy by 31.0% in the third quarter. Dimensional Fund Advisors LP now owns 11,738,166 shares of the oil and gas exploration company’s stock valued at $52,703,000 after purchasing an additional 2,777,313 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Chesapeake Energy by 21.9% in the fourth quarter. Bank of New York Mellon Corp now owns 11,945,420 shares of the oil and gas exploration company’s stock valued at $25,085,000 after purchasing an additional 2,146,047 shares during the period. 58.81% of the stock is currently owned by institutional investors.

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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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