Chaparral Energy (CHAP) Stock Price Up 16.6% on Insider Buying Activity

Chaparral Energy Inc (NYSE:CHAP) rose 16.6% on Monday following insider buying activity. The company traded as high as $7.00 and last traded at $6.94. Approximately 700,034 shares changed hands during trading, an increase of 181% from the average daily volume of 249,523 shares. The stock had previously closed at $5.95.

Specifically, major shareholder Strategic Value Partners, Llc bought 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were acquired at an average cost of $4.51 per share, with a total value of $4,510,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kermit Earl Reynolds bought 7,100 shares of the business’s stock in a transaction that occurred on Friday, March 29th. The stock was purchased at an average cost of $5.64 per share, for a total transaction of $40,044.00. The disclosure for this purchase can be found here. Insiders purchased a total of 3,236,451 shares of company stock worth $17,123,082 over the last ninety days.

CHAP has been the topic of several research reports. ValuEngine raised Chaparral Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Imperial Capital reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Chaparral Energy in a research report on Thursday, January 10th. Finally, Zacks Investment Research raised Chaparral Energy from a “sell” rating to a “hold” rating in a research report on Monday, February 4th.

The firm has a market cap of $276.38 million, a PE ratio of 22.39 and a beta of 3.55. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.34.

A number of hedge funds and other institutional investors have recently made changes to their positions in CHAP. Paloma Partners Management Co increased its holdings in Chaparral Energy by 108.7% in the 4th quarter. Paloma Partners Management Co now owns 2,131,177 shares of the company’s stock valued at $10,485,000 after purchasing an additional 1,109,946 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Chaparral Energy during the third quarter valued at about $16,918,000. Lord Abbett & CO. LLC grew its stake in shares of Chaparral Energy by 22.6% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,890,930 shares of the company’s stock valued at $14,223,000 after acquiring an additional 532,429 shares in the last quarter. Prudential PLC grew its stake in shares of Chaparral Energy by 21.0% during the fourth quarter. Prudential PLC now owns 2,843,182 shares of the company’s stock valued at $13,988,000 after acquiring an additional 493,402 shares in the last quarter. Finally, Vanguard Group Inc acquired a new stake in shares of Chaparral Energy during the third quarter valued at about $6,590,000. Hedge funds and other institutional investors own 93.97% of the company’s stock.

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About Chaparral Energy (NYSE:CHAP)

Chaparral Energy, Inc engages in the acquisition, exploration, development, production, and operation of onshore oil and natural gas properties primarily in Oklahoma, the United States. The company sells crude oil, natural gas, and natural gas liquids primarily to refineries and gas processing plant.

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