Today: Rikoon Group LLC Invests $200,000 in Chesapeake Energy Corp. (CHK)

Today: Rikoon Group LLC Invests $200,000 in Chesapeake Energy Corp. (CHK)

Rikoon Group LLC bought a new position in Chesapeake Energy Corp. (NYSE:CHK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,000 shares of the oil and gas exploration company’s stock, valued at approximately $200,000.

Several other hedge funds also recently added to or reduced their stakes in CHK. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Chesapeake Energy Corp. during the second quarter worth $101,000. Advisor Partners LLC acquired a new position in Chesapeake Energy Corp. during the third quarter worth $104,000. Virginia Retirement Systems ET AL acquired a new position in Chesapeake Energy Corp. during the second quarter worth $110,000. Carnegie Capital Asset Management LLC raised its position in Chesapeake Energy Corp. by 1.7% in the second quarter. Carnegie Capital Asset Management LLC now owns 24,100 shares of the oil and gas exploration company’s stock worth $125,000 after buying an additional 400 shares during the last quarter. Finally, Norinchukin Bank The raised its position in Chesapeake Energy Corp. by 15.5% in the second quarter. Norinchukin Bank The now owns 30,675 shares of the oil and gas exploration company’s stock worth $131,000 after buying an additional 4,121 shares during the last quarter. 63.95% of the stock is owned by institutional investors and hedge funds.

Shares of Chesapeake Energy Corp. (NYSE:CHK) opened at 6.59 on Monday. Chesapeake Energy Corp. has a 1-year low of $1.50 and a 1-year high of $8.15. The firm’s market cap is $5.05 billion. The stock has a 50 day moving average of $6.05 and a 200 day moving average of $5.47.

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

CHK has been the topic of a number of recent research reports. Guggenheim restated a “neutral” rating and set a $5.42 price target on shares of Chesapeake Energy Corp. in a research report on Tuesday, August 2nd. Jefferies Group boosted their price target on shares of 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 target on shares of Chesapeake Energy Corp. from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Deutsche Bank AG boosted their price target on shares of Chesapeake Energy Corp. from $4.00 to $5.00 and gave the stock 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Chesapeake Energy Corp. has an average rating of “Hold” and an average price target of $7.44.

In other news, Director Archie W. Dunham bought 1,000,000 shares of Chesapeake Energy Corp. stock in a transaction dated Tuesday, September 20th. The shares were acquired at an average cost of $6.67 per share, with a total value of $6,670,000.00. Following the completion of the transaction, the director now owns 4,127,951 shares in the company, valued at approximately $27,533,433.17. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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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