Van ECK Associates Corp cut its stake in Chesapeake Energy Co. (NYSE:CHK) by 44.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,109 shares of the oil and gas exploration company’s stock after selling 88,037 shares during the period. Van ECK Associates Corp’s holdings in Chesapeake Energy were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of CHK. Bank of New York Mellon Corp raised its stake in Chesapeake Energy by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,775,942 shares of the oil and gas exploration company’s stock valued at $51,227,000 after acquiring an additional 161,327 shares during the period. Russell Investments Group Ltd. raised its stake in Chesapeake Energy by 3,143.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 132,341 shares of the oil and gas exploration company’s stock valued at $594,000 after acquiring an additional 128,261 shares during the period. Private Advisor Group LLC raised its stake in Chesapeake Energy by 48.0% in the 3rd quarter. Private Advisor Group LLC now owns 51,935 shares of the oil and gas exploration company’s stock valued at $233,000 after acquiring an additional 16,852 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Chesapeake Energy by 60.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 99,859 shares of the oil and gas exploration company’s stock valued at $448,000 after acquiring an additional 37,678 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new stake in Chesapeake Energy in the 3rd quarter valued at about $712,000. Institutional investors and hedge funds own 58.81% of the company’s stock.

In other Chesapeake Energy news, CEO Robert D. Lawler acquired 100,000 shares of the business’s stock in a transaction dated Thursday, December 20th. The stock was bought at an average price of $1.86 per share, with a total value of $186,000.00. Following the completion of the acquisition, the chief executive officer now owns 4,154,419 shares of the company’s stock, valued at $7,727,219.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Archie W. Dunham acquired 1,200,000 shares of the business’s stock in a transaction dated Tuesday, December 18th. The shares were acquired at an average cost of $2.22 per share, with a total value of $2,664,000.00. Following the acquisition, the director now directly owns 6,047,375 shares of the company’s stock, valued at approximately $13,425,172.50. The disclosure for this purchase can be found here. Insiders have bought 3,730,000 shares of company stock valued at $7,597,400 in the last three months. 1.70% of the stock is owned by insiders.

CHK stock opened at $2.97 on Friday. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 3.30, a P/E/G ratio of 0.79 and a beta of 2.44. Chesapeake Energy Co. has a twelve month low of $1.71 and a twelve month high of $5.60.

Chesapeake Energy (NYSE:CHK) last posted its earnings results on Wednesday, February 27th. The oil and gas exploration company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. Chesapeake Energy had a negative return on equity of 58.05% and a net margin of 8.31%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities research analysts expect that Chesapeake Energy Co. will post 0.55 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on CHK shares. Zacks Investment Research cut Chesapeake Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. UBS Group set a $2.00 target price on Chesapeake Energy and gave the company a “sell” rating in a report on Monday, January 14th. Raymond James lifted their target price on Chesapeake Energy from $3.50 to $4.00 and gave the company an “outperform” rating in a report on Friday, January 11th. Imperial Capital reduced their target price on Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating for the company in a report on Thursday, January 10th. Finally, MKM Partners set a $3.00 target price on Chesapeake Energy and gave the company a “hold” rating in a report on Tuesday, March 5th. Nine investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Chesapeake Energy has an average rating of “Hold” and an average target price of $4.05.

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

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