Chesapeake Energy Corporation (CHK) Short Interest Down 2.9% in July

Chesapeake Energy Corporation (NYSE:CHK) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 199,646,836 shares, a decline of 2.9% from the July 14th total of 205,595,169 shares. Based on an average daily volume of 29,726,650 shares, the days-to-cover ratio is currently 6.7 days. Currently, 22.3% of the company’s shares are sold short.

A number of analysts have recently issued reports on the company. ValuEngine upgraded Chesapeake Energy Corporation from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Bank of America Corporation cut Chesapeake Energy Corporation from a “neutral” rating to an “underperform” rating in a report on Thursday, May 11th. FBR & Co reiterated a “sell” rating on shares of Chesapeake Energy Corporation in a report on Monday, May 15th. Scotiabank reiterated a “hold” rating and set a $6.00 target price on shares of Chesapeake Energy Corporation in a report on Monday, May 15th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $6.00 target price on shares of Chesapeake Energy Corporation in a report on Monday, May 15th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $6.55.

In other news, Director Thomas L. Ryan bought 75,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was acquired at an average price of $5.00 per share, for a total transaction of $375,000.00. Following the acquisition, the director now owns 440,355 shares of the company’s stock, valued at $2,201,775. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director R Brad Martin bought 20,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were purchased at an average price of $5.26 per share, with a total value of $105,200.00. Following the acquisition, the director now directly owns 501,958 shares in the company, valued at approximately $2,640,299.08. The disclosure for this purchase can be found here. Insiders have bought a total of 140,400 shares of company stock valued at $675,770 in the last quarter. Company insiders own 1.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Tiedemann Wealth Management LLC raised its stake in shares of Chesapeake Energy Corporation by 21.0% in the first quarter. Tiedemann Wealth Management LLC now owns 16,999 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 2,952 shares during the last quarter. Hollencrest Securities LLC raised its stake in shares of Chesapeake Energy Corporation by 6.1% in the first quarter. Hollencrest Securities LLC now owns 17,275 shares of the oil and gas exploration company’s stock valued at $103,000 after buying an additional 1,000 shares during the last quarter. Cleararc Capital Inc. raised its stake in shares of Chesapeake Energy Corporation by 2.8% in the first quarter. Cleararc Capital Inc. now owns 18,627 shares of the oil and gas exploration company’s stock valued at $111,000 after buying an additional 508 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Chesapeake Energy Corporation during the second quarter valued at $115,000. Finally, Advisory Services Network LLC raised its stake in shares of Chesapeake Energy Corporation by 42.6% in the second quarter. Advisory Services Network LLC now owns 23,413 shares of the oil and gas exploration company’s stock valued at $116,000 after buying an additional 7,000 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Shares of Chesapeake Energy Corporation (NYSE:CHK) opened at 3.88 on Friday. The firm’s market capitalization is $3.46 billion. Chesapeake Energy Corporation has a 52-week low of $3.81 and a 52-week high of $8.20. The company’s 50 day moving average price is $4.63 and its 200 day moving average price is $5.30.

Chesapeake Energy Corporation (NYSE:CHK) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas exploration company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Chesapeake Energy Corporation had a negative return on equity of 16.10% and a negative net margin of 9.52%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned ($0.14) EPS. Chesapeake Energy Corporation’s revenue for the quarter was up 40.6% compared to the same quarter last year. Analysts forecast that Chesapeake Energy Corporation will post $0.76 earnings per share for the current year.

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Chesapeake Energy Corporation Company 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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