Virtu Financial LLC Sells 200,543 Shares of Chesapeake Energy Co. (CHK)

Virtu Financial LLC trimmed its position in Chesapeake Energy Co. (NYSE:CHK) by 60.5% in the third quarter, HoldingsChannel reports. The firm owned 130,800 shares of the oil and gas exploration company’s stock after selling 200,543 shares during the quarter. Virtu Financial LLC’s holdings in Chesapeake Energy were worth $587,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Schwab Charles Investment Management Inc. grew its position in Chesapeake Energy by 88.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,962,748 shares of the oil and gas exploration company’s stock worth $52,205,000 after purchasing an additional 4,671,610 shares in the last quarter. Bank of New York Mellon Corp grew its position 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 worth $51,227,000 after purchasing an additional 161,327 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Chesapeake Energy by 41.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,960,853 shares of the oil and gas exploration company’s stock worth $46,954,000 after purchasing an additional 2,612,830 shares in the last quarter. Huber Capital Management LLC grew its position in Chesapeake Energy by 332.6% in the 2nd quarter. Huber Capital Management LLC now owns 5,013,813 shares of the oil and gas exploration company’s stock worth $26,272,000 after purchasing an additional 3,854,689 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Chesapeake Energy by 181.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,972,965 shares of the oil and gas exploration company’s stock worth $11,998,000 after purchasing an additional 2,561,947 shares in the last quarter. 58.71% of the stock is owned by institutional investors and hedge funds.

In related news, EVP James R. Webb bought 50,000 shares of Chesapeake Energy stock in a transaction dated Thursday, November 1st. The stock was purchased at an average cost of $3.54 per share, with a total value of $177,000.00. Following the transaction, the executive vice president now directly owns 871,548 shares of the company’s stock, valued at $3,085,279.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

A number of equities research analysts have issued reports on CHK shares. Morgan Stanley started coverage on shares of Chesapeake Energy in a research report on Thursday, October 4th. They issued an “equal weight” rating and a $5.00 price objective for the company. SunTrust Banks downgraded shares of Chesapeake Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. They noted that the move was a valuation call. Wolfe Research downgraded shares of Chesapeake Energy from a “peer perform” rating to an “underperform” rating in a research report on Thursday, August 16th. Raymond James raised shares of Chesapeake Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 1st. Finally, UBS Group raised shares of Chesapeake Energy from a “neutral” rating to a “positive” rating in a research report on Wednesday, October 31st. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $4.61.

Chesapeake Energy stock opened at $2.72 on Friday. Chesapeake Energy Co. has a twelve month low of $2.53 and a twelve month high of $5.60. The company has a market cap of $2.49 billion, a PE ratio of 3.32, a P/E/G ratio of 0.33 and a beta of 1.92.

Chesapeake Energy (NYSE:CHK) last released its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. Chesapeake Energy had a net margin of 6.91% and a negative return on equity of 54.07%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $0.12 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Chesapeake Energy Co. will post 0.85 earnings per share for the current fiscal year.

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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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