Financial Partners Group Inc acquired a new position in shares of Chesapeake Energy Co. (NYSE:CHK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 28,780 shares of the oil and gas exploration company’s stock, valued at approximately $114,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Brave Asset Management Inc. raised its position in shares of Chesapeake Energy by 154.2% during the third quarter. Brave Asset Management Inc. now owns 38,130 shares of the oil and gas exploration company’s stock worth $164,000 after acquiring an additional 23,130 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Chesapeake Energy during the third quarter worth about $170,000. Sigma Planning Corp raised its position in shares of Chesapeake Energy by 187.5% during the third quarter. Sigma Planning Corp now owns 41,169 shares of the oil and gas exploration company’s stock worth $177,000 after acquiring an additional 26,850 shares during the last quarter. Cutler Capital Management LLC raised its position in shares of Chesapeake Energy by 47.5% during the third quarter. Cutler Capital Management LLC now owns 53,100 shares of the oil and gas exploration company’s stock worth $228,000 after acquiring an additional 17,100 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Chesapeake Energy by 41.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,909 shares of the oil and gas exploration company’s stock worth $213,000 after acquiring an additional 15,804 shares during the last quarter. Institutional investors own 61.93% of the company’s stock.
Shares of Chesapeake Energy Co. (CHK) opened at $3.12 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of -4.86. Chesapeake Energy Co. has a one year low of $2.53 and a one year high of $6.59. The company has a market capitalization of $2,827.74, a P/E ratio of 3.76 and a beta of 1.90.
CHK has been the subject of a number of analyst reports. UBS Group initiated coverage on Chesapeake Energy in a research report on Wednesday, March 7th. They set a “buy” rating and a $2.80 price objective for the company. Mizuho downgraded Chesapeake Energy from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $4.28 to $8.00 in a research report on Tuesday, January 16th. ValuEngine downgraded Chesapeake Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Chesapeake Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 27th. Finally, BMO Capital Markets set a $4.00 price objective on Chesapeake Energy and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $5.00.
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Chesapeake Energy 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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