Miracle Mile Advisors LLC lessened its holdings in shares of Chesapeake Energy Co. (NYSE:CHK) by 10.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,500 shares of the oil and gas exploration company’s stock after selling 5,100 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Chesapeake Energy were worth $89,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Architects LLC acquired a new stake in Chesapeake Energy in the fourth quarter valued at approximately $28,000. Nachman Norwood & Parrott Inc acquired a new stake in shares of Chesapeake Energy during the fourth quarter worth approximately $42,000. Smart Money Group LLC acquired a new stake in shares of Chesapeake Energy during the third quarter worth approximately $129,000. Lourd Capital LLC acquired a new stake in shares of Chesapeake Energy during the third quarter worth approximately $162,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Chesapeake Energy during the third quarter worth approximately $163,000. 58.73% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on CHK. Zacks Investment Research downgraded shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. UBS Group set a $2.00 price target on shares of Chesapeake Energy and gave the stock a “sell” rating in a research report on Monday, January 14th. Raymond James raised their price target on shares of Chesapeake Energy from $3.50 to $4.00 and gave the stock an “outperform” rating in a research report on Friday, January 11th. Imperial Capital decreased their price target on shares of Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating for the company in a research report on Thursday, January 10th. Finally, Bank of America cut Chesapeake Energy from a “neutral” rating to an “underperform” rating in a research note on Friday, January 4th. Nine investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Chesapeake Energy has an average rating of “Hold” and a consensus price target of $4.12.
In related news, Director Thomas L. Ryan purchased 200,000 shares of the company’s stock in a transaction that occurred on Monday, December 24th. The shares were purchased at an average price of $1.81 per share, with a total value of $362,000.00. Following the purchase, the director now owns 563,519 shares of the company’s stock, valued at approximately $1,019,969.39. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James R. Webb purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was bought at an average cost of $3.54 per share, for a total transaction of $177,000.00. Following the purchase, the executive vice president now directly owns 871,548 shares in the company, valued at approximately $3,085,279.92. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 3,855,000 shares of company stock worth $7,965,650. 1.70% of the stock is owned by corporate insiders.
Shares of CHK opened at $2.74 on Wednesday. The firm has a market cap of $2.71 billion, a PE ratio of 3.03, a price-to-earnings-growth ratio of 0.62 and a beta of 2.04. Chesapeake Energy Co. has a one year low of $1.71 and a one year high of $5.60.
Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Chesapeake Energy had a negative return on equity of 54.07% and a net margin of 6.91%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. Sell-side analysts predict that Chesapeake Energy Co. will post 0.86 EPS for the current fiscal year.
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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 Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.
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