Invenomic Capital Management LP Buys Shares of 52,809 Chesapeake Energy Co. (NASDAQ:CHK)

Invenomic Capital Management LP bought a new stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 52,809 shares of the company’s stock, valued at approximately $4,691,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Principal Securities Inc. bought a new stake in shares of Chesapeake Energy during the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC increased its position in shares of Chesapeake Energy by 90.8% during the first quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Chesapeake Energy during the first quarter valued at approximately $37,000. BOKF NA bought a new stake in shares of Chesapeake Energy during the first quarter valued at approximately $45,000. Finally, GAMMA Investing LLC bought a new stake in Chesapeake Energy in the 4th quarter worth approximately $40,000. Institutional investors own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CHK. Barclays began coverage on shares of Chesapeake Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $102.00 target price for the company. Mizuho lifted their target price on shares of Chesapeake Energy from $101.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Jefferies Financial Group dropped their price target on shares of Chesapeake Energy from $118.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Wolfe Research began coverage on shares of Chesapeake Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $110.00 price target on the stock. Finally, UBS Group lifted their price target on shares of Chesapeake Energy from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $106.69.

Chesapeake Energy Price Performance

Shares of CHK traded down $0.33 during mid-day trading on Tuesday, hitting $76.24. 3,903,969 shares of the stock were exchanged, compared to its average volume of 1,900,818. The company has a market cap of $9.99 billion, a PE ratio of 10.27 and a beta of 0.47. Chesapeake Energy Co. has a 52-week low of $72.84 and a 52-week high of $93.58. The firm has a 50-day moving average of $84.74 and a two-hundred day moving average of $84.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.33 and a current ratio of 2.33.

Chesapeake Energy (NASDAQ:CHK) last released its earnings results on Monday, July 29th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $505.00 million for the quarter, compared to the consensus estimate of $822.54 million. Chesapeake Energy had a net margin of 16.42% and a return on equity of 4.87%. The business’s revenue for the quarter was down 73.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, equities analysts predict that Chesapeake Energy Co. will post 1.3 earnings per share for the current year.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. 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.