Holdings L.P. Blackstone III Sells 4,236 Shares of Chesapeake Energy Co. (NASDAQ:CHK) Stock

Chesapeake Energy Co. (NASDAQ:CHKGet Rating) major shareholder Holdings L.P. Blackstone III sold 4,236 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $100.11, for a total value of $424,065.96. Following the completion of the transaction, the insider now owns 1,311,663 shares in the company, valued at approximately $131,310,582.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Holdings L.P. Blackstone III also recently made the following trade(s):

  • On Thursday, May 5th, Holdings L.P. Blackstone III sold 8,700 shares of Chesapeake Energy stock. The stock was sold at an average price of $95.08, for a total value of $827,196.00.
  • On Monday, April 18th, Holdings L.P. Blackstone III sold 186,085 shares of Chesapeake Energy stock. The stock was sold at an average price of $96.25, for a total value of $17,910,681.25.
  • On Thursday, April 14th, Holdings L.P. Blackstone III sold 6,965 shares of Chesapeake Energy stock. The stock was sold at an average price of $95.05, for a total value of $662,023.25.

CHK traded up $2.95 during trading on Friday, reaching $103.15. The stock had a trading volume of 1,484,643 shares, compared to its average volume of 1,874,872. The stock has a market cap of $13.13 billion, a PE ratio of -31.51, a PEG ratio of 1.03 and a beta of 0.17. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.34 and a current ratio of 0.34. Chesapeake Energy Co. has a one year low of $48.19 and a one year high of $103.92. The business has a 50-day moving average of $88.97 and a 200-day moving average of $75.09.

Chesapeake Energy (NASDAQ:CHKGet Rating) last released its earnings results on Wednesday, May 4th. The company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.66. The business had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $1.34 billion. Chesapeake Energy had a positive return on equity of 27.28% and a negative net margin of 2.03%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Chesapeake Energy Co. will post 13.44 EPS for the current fiscal year.

The firm also recently declared a None dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Thursday, May 19th will be given a dividend of $2.34 per share. This represents a yield of 2.1%. This is a positive change from Chesapeake Energy’s previous None dividend of $0.44. The ex-dividend date of this dividend is Wednesday, May 18th. Chesapeake Energy’s dividend payout ratio is presently -62.89%.

Several research firms have issued reports on CHK. Wells Fargo & Company increased their target price on Chesapeake Energy from $88.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, March 14th. Zacks Investment Research upgraded Chesapeake Energy from a “hold” rating to a “strong-buy” rating and set a $94.00 target price on the stock in a research report on Monday, May 2nd. Wolfe Research upped their price target on shares of Chesapeake Energy from $104.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, April 5th. TheStreet cut shares of Chesapeake Energy from a “c-” rating to a “d” rating in a report on Thursday, May 5th. Finally, Royal Bank of Canada upped their price target on shares of Chesapeake Energy from $88.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, March 8th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chesapeake Energy currently has a consensus rating of “Buy” and an average price target of $89.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of CHK. Raymond James & Associates purchased a new stake in Chesapeake Energy during the third quarter valued at about $257,000. Advisor Group Holdings Inc. boosted its position in Chesapeake Energy by 397.6% during the third quarter. Advisor Group Holdings Inc. now owns 1,836 shares of the company’s stock valued at $113,000 after buying an additional 1,467 shares during the period. Citigroup Inc. boosted its position in Chesapeake Energy by 183.6% during the third quarter. Citigroup Inc. now owns 18,398 shares of the company’s stock valued at $1,133,000 after buying an additional 11,911 shares during the period. California Public Employees Retirement System purchased a new stake in Chesapeake Energy during the third quarter valued at about $9,957,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Chesapeake Energy during the third quarter worth about $3,745,000.

About Chesapeake Energy (Get Rating)

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.

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