California State Teachers Retirement System decreased its holdings in shares of Chesapeake Energy Co. (NYSE:CHK) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,451,429 shares of the oil and gas exploration company’s stock after selling 15,095 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Chesapeake Energy worth $3,048,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in Chesapeake Energy by 3,143.7% in the third quarter. Russell Investments Group Ltd. now owns 132,341 shares of the oil and gas exploration company’s stock worth $594,000 after purchasing an additional 128,261 shares during the last quarter. Prudential Financial Inc. boosted its position in Chesapeake Energy by 10.0% in the third quarter. Prudential Financial Inc. now owns 2,734,368 shares of the oil and gas exploration company’s stock worth $12,277,000 after purchasing an additional 249,230 shares during the last quarter. AXA purchased a new position in Chesapeake Energy in the third quarter worth about $1,296,000. American International Group Inc. boosted its position in Chesapeake Energy by 1.1% in the third quarter. American International Group Inc. now owns 1,854,229 shares of the oil and gas exploration company’s stock worth $8,325,000 after purchasing an additional 19,313 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in Chesapeake Energy in the third quarter worth about $844,000. Institutional investors own 58.81% of the company’s stock.
CHK has been the topic of several recent research reports. Zacks Investment Research downgraded Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. MKM Partners set a $3.00 price objective on Chesapeake Energy and gave the stock a “hold” rating in a research note on Tuesday, March 5th. Bank of America downgraded Chesapeake Energy from a “neutral” rating to an “underperform” rating in a research note on Friday, January 4th. Raymond James set a $5.00 price objective on Chesapeake Energy and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Goldman Sachs Group downgraded Chesapeake Energy from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $2.75 to $2.50 in a research note on Friday, April 12th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $4.01.
Chesapeake Energy (NYSE:CHK) last issued its earnings results on Wednesday, February 27th. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $3.07 billion for 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 firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. On average, equities research analysts predict that Chesapeake Energy Co. will post 0.56 EPS for the current year.
In related news, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of Chesapeake Energy stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $3.29, for a total transaction of $19,456,191.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by company insiders.
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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 Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.
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