Todays Report: Today: Parsons Capital Management Inc. RI sells partial stakes of Chesapeake Energy Corp. (CHK)

Today: Parsons Capital Management Inc. RI sells partial stakes of Chesapeake Energy Corp. (CHK)

Parsons Capital Management Inc. RI reduced its stake in Chesapeake Energy Corp. (NYSE:CHK) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,181 shares of the oil and gas exploration company’s stock after selling 2,000 shares during the period. Parsons Capital Management Inc. RI’s holdings in Chesapeake Energy Corp. were worth $685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new position in shares of Chesapeake Energy Corp. during the first quarter valued at approximately $1,096,000. Boothbay Fund Management LLC purchased a new position in shares of Chesapeake Energy Corp. during the first quarter valued at approximately $149,000. Exxonmobil Investment Management Inc. TX raised its position in shares of Chesapeake Energy Corp. by 20.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 151,386 shares of the oil and gas exploration company’s stock valued at $648,000 after buying an additional 25,407 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Chesapeake Energy Corp. by 14.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 499,601 shares of the oil and gas exploration company’s stock valued at $2,139,000 after buying an additional 63,014 shares during the last quarter. Finally, Quotient Investors LLC purchased a new position in shares of Chesapeake Energy Corp. during the second quarter valued at approximately $2,034,000. Institutional investors own 63.95% of the company’s stock.

Chesapeake Energy Corp. (NYSE:CHK) traded down 0.531% during mid-day trading on Monday, hitting $6.555. The stock had a trading volume of 26,000,478 shares. Chesapeake Energy Corp. has a 52 week low of $1.50 and a 52 week high of $8.15. The company’s market capitalization is $5.02 billion. The stock’s 50-day moving average is $6.05 and its 200 day moving average is $5.47.

Chesapeake Energy Corp. (NYSE:CHK) last issued its quarterly earnings data on Thursday, November 3rd. The oil and gas exploration company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.18 billion. Chesapeake Energy Corp. had a negative return on equity of 16.16% and a negative net margin of 70.72%. The firm’s revenue was down 32.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. Equities analysts forecast that Chesapeake Energy Corp. will post ($0.05) earnings per share for the current fiscal year.

CHK has been the subject of several research reports. Guggenheim reiterated a “neutral” rating and issued a $5.42 target price on shares of Chesapeake Energy Corp. in a research report on Tuesday, August 2nd. Jefferies Group lifted their target price on Chesapeake Energy Corp. from $3.00 to $4.00 and gave the stock an “underperform” rating in a research report on Friday, August 5th. Citigroup Inc. boosted their price objective on Chesapeake Energy Corp. from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. Deutsche Bank AG boosted their price objective on Chesapeake Energy Corp. from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. Finally, RBC Capital Markets restated an “underperform” rating on shares of Chesapeake Energy Corp. in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chesapeake Energy Corp. currently has an average rating of “Hold” and a consensus price target of $7.44.

In other Chesapeake Energy Corp. news, Director Archie W. Dunham acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The shares were acquired at an average price of $6.67 per share, with a total value of $6,670,000.00. Following the purchase, the director now owns 4,127,951 shares of the company’s stock, valued at approximately $27,533,433.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Chesapeake Energy Corp. Company Profile

Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas, oil and natural gas liquids (NGL) in the United States. The Company operates in two segments: Exploration and Production, and Marketing, Gathering and Compression. The exploration and production segment is responsible for finding and producing oil, natural gas and NGL.

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