Metropolitan Life Insurance Co NY raised its stake in shares of Chesapeake Energy Co. (NYSE:CHK) by 16.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,326 shares of the oil and gas exploration company’s stock after purchasing an additional 44,101 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Chesapeake Energy were worth $946,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Garrison Point Advisors LLC acquired a new stake in Chesapeake Energy during the fourth quarter worth about $25,000. Bessemer Group Inc. increased its position in shares of Chesapeake Energy by 1,081.8% during the fourth quarter. Bessemer Group Inc. now owns 11,818 shares of the oil and gas exploration company’s stock valued at $25,000 after acquiring an additional 10,818 shares during the last quarter. Peak Asset Management LLC acquired a new stake in shares of Chesapeake Energy during the fourth quarter valued at about $26,000. FTB Advisors Inc. increased its position in shares of Chesapeake Energy by 193.4% during the first quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 5,802 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Chesapeake Energy during the fourth quarter valued at about $27,000. 70.06% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Robert D. Lawler purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $2.02 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the chief executive officer now directly owns 5,083,298 shares of the company’s stock, valued at $10,268,261.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.
Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $1.13 billion. Chesapeake Energy had a net margin of 5.39% and a negative return on equity of 138.70%. The company’s revenue for the quarter was down 25.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. Sell-side analysts anticipate that Chesapeake Energy Co. will post -0.09 EPS for the current fiscal year.
A number of brokerages have weighed in on CHK. Argus cut shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. TheStreet upgraded shares of WillScot from a “d-” rating to a “c-” rating in a research report on Wednesday, May 8th. Guggenheim began coverage on shares of Patterson Companies in a research report on Wednesday, April 17th. They set a “neutral” rating and a $23.00 price target for the company. UBS Group upgraded shares of to a “neutral” rating and lifted their price target for the company from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a research report on Thursday, June 20th. Finally, Goldman Sachs Group cut shares of Encana to a “buy” rating in a research report on Friday, April 12th. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $3.80.
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 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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