Chesapeake Energy Co. (NYSE:CHK) saw a large decrease in short interest in the month of December. As of December 29th, there was short interest totalling 158,184,464 shares, a decrease of 4.7% from the December 15th total of 165,924,000 shares. Approximately 17.7% of the shares of the stock are sold short. Based on an average daily volume of 23,424,915 shares, the days-to-cover ratio is presently 6.8 days.
CHK has been the subject of a number of research analyst reports. Piper Jaffray Companies set a $4.00 target price on Chesapeake Energy and gave the company a “hold” rating in a report on Thursday, October 19th. Scotiabank reissued a “hold” rating and set a $5.00 target price on shares of Chesapeake Energy in a report on Friday, November 3rd. BMO Capital Markets set a $4.00 price target on Chesapeake Energy and gave the company a “hold” rating in a research report on Tuesday, November 14th. Credit Suisse Group initiated coverage on Chesapeake Energy in a research report on Monday, December 11th. They issued an “underperform” rating and a $3.00 price target for the company. Finally, ValuEngine lowered Chesapeake Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $5.29.
Chesapeake Energy (NYSE CHK) remained flat at $$2.85 on Monday. The company’s stock had a trading volume of 32,891,647 shares, compared to its average volume of 37,410,000. The firm has a market capitalization of $2,590.00, a PE ratio of -4.91 and a beta of 1.83. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of -4.17. Chesapeake Energy has a 12-month low of $2.53 and a 12-month high of $6.59.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC raised its stake in shares of Chesapeake Energy by 42.6% in the second quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock valued at $116,000 after acquiring an additional 7,000 shares in the last quarter. UBS Oconnor LLC acquired a new stake in Chesapeake Energy in the second quarter valued at $122,000. Gotham Asset Management LLC acquired a new stake in Chesapeake Energy in the second quarter valued at $126,000. Sapphire Star Partners LP acquired a new stake in Chesapeake Energy in the third quarter valued at $143,000. Finally, Thrivent Financial For Lutherans raised its stake in Chesapeake Energy by 4.2% in the second quarter. Thrivent Financial For Lutherans now owns 30,015 shares of the oil and gas exploration company’s stock valued at $149,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 63.49% of the company’s stock.
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Chesapeake Energy Company Profile
Chesapeake Energy Corporation produces natural gas, oil and natural gas liquids (NGL) in the United States. It operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. Exploration and production is engaged in finding and producing oil, natural gas and NGL. Marketing, gathering and compression is engaged in marketing, gathering and compression of oil, natural gas and NGL.
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