Chesapeake Energy (NASDAQ:CHKEW) Shares Down 6.2%

Chesapeake Energy Co. (NASDAQ:CHKEW) dropped 6.2% on Thursday . The company traded as low as $60.70 and last traded at $60.70. Approximately 100 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 585 shares. The stock had previously closed at $64.70.

Chesapeake Energy Stock Performance

The stock has a 50 day moving average of $70.25 and a 200 day moving average of $75.22.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Chesapeake Energy stock. Warberg Asset Management LLC increased its stake in shares of Chesapeake Energy Co. (NASDAQ:CHKEW) by 55.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,300 shares of the company’s stock after buying an additional 5,787 shares during the quarter. Warberg Asset Management LLC’s holdings in Chesapeake Energy were worth $1,208,000 at the end of the most recent quarter.

About Chesapeake Energy

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.