Grantham Mayo Van Otterloo & Co. LLC trimmed its position in shares of Chesapeake Energy Co. (NASDAQ:CHK – Get Rating) by 62.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the company’s stock after selling 16,500 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Chesapeake Energy were worth $942,000 as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also made changes to their positions in CHK. Raymond James Financial Services Advisors Inc. boosted its position in Chesapeake Energy by 23.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,958 shares of the company’s stock worth $518,000 after purchasing an additional 1,121 shares during the period. American Century Companies Inc. boosted its position in Chesapeake Energy by 44.0% during the 1st quarter. American Century Companies Inc. now owns 28,070 shares of the company’s stock worth $2,442,000 after purchasing an additional 8,578 shares during the period. PNC Financial Services Group Inc. boosted its position in Chesapeake Energy by 20,980.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,054 shares of the company’s stock worth $93,000 after purchasing an additional 1,049 shares during the period. Allianz Asset Management GmbH boosted its position in Chesapeake Energy by 64.3% during the 1st quarter. Allianz Asset Management GmbH now owns 287,074 shares of the company’s stock worth $24,976,000 after purchasing an additional 112,360 shares during the period. Finally, Prudential PLC purchased a new stake in Chesapeake Energy during the 1st quarter worth $569,000.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Chesapeake Energy in a research report on Wednesday, October 19th. They set a “buy” rating and a $150.00 price target for the company. Credit Suisse Group decreased their price objective on shares of Chesapeake Energy from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, January 19th. Mizuho assumed coverage on shares of Chesapeake Energy in a research report on Monday, January 9th. They issued a “buy” rating and a $155.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Chesapeake Energy in a research report on Tuesday, January 24th. They issued an “overweight” rating and a $117.00 price objective for the company. Finally, Citigroup assumed coverage on shares of Chesapeake Energy in a research report on Wednesday, February 8th. They issued a “neutral” rating and a $90.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.80.
Chesapeake Energy Trading Down 0.8 %
Chesapeake Energy stock opened at $83.16 on Thursday. The firm has a 50 day simple moving average of $90.64 and a 200-day simple moving average of $96.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $11.14 billion, a PE ratio of 4.33 and a beta of 0.65. Chesapeake Energy Co. has a 12-month low of $64.81 and a 12-month high of $107.31.
About Chesapeake Energy
Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the United States. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana; and the liquids-rich resource play in the Eagle Ford Shale in South Texas.
See Also
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