Ceredex Value Advisors LLC Acquires 293,116 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

Ceredex Value Advisors LLC grew its holdings in Chesapeake Energy Co. (NASDAQ:CHK) by 33.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,174,010 shares of the company’s stock after purchasing an additional 293,116 shares during the period. Chesapeake Energy comprises 1.9% of Ceredex Value Advisors LLC’s portfolio, making the stock its 8th largest holding. Ceredex Value Advisors LLC owned about 0.90% of Chesapeake Energy worth $96,562,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Murphy Pohlad Asset Management LLC bought a new stake in shares of Chesapeake Energy in the 3rd quarter valued at approximately $1,547,000. Stephens Inc. AR grew its stake in shares of Chesapeake Energy by 10.5% in the 3rd quarter. Stephens Inc. AR now owns 7,776 shares of the company’s stock valued at $640,000 after buying an additional 736 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in Chesapeake Energy by 1.6% during the third quarter. Pinnacle Associates Ltd. now owns 52,363 shares of the company’s stock worth $4,029,000 after purchasing an additional 813 shares during the period. Asahi Life Asset Management CO. LTD. bought a new stake in Chesapeake Energy during the third quarter worth approximately $356,000. Finally, Canoe Financial LP bought a new stake in Chesapeake Energy during the third quarter worth approximately $10,498,000. Institutional investors and hedge funds own 97.93% of the company’s stock.

Chesapeake Energy Stock Performance

Shares of NASDAQ CHK opened at $81.46 on Friday. The business has a fifty day simple moving average of $77.48 and a 200 day simple moving average of $81.68. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a one year low of $69.12 and a one year high of $93.58. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of 10.98 and a beta of 0.47.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CHK shares. UBS Group decreased their target price on Chesapeake Energy from $93.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Roth Mkm started coverage on Chesapeake Energy in a research report on Friday, September 27th. They set a “buy” rating and a $92.00 target price for the company. Scotiabank decreased their target price on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. Wells Fargo & Company upped their target price on Chesapeake Energy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Finally, Roth Capital upgraded Chesapeake Energy to a “strong-buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Chesapeake Energy has an average rating of “Moderate Buy” and a consensus price target of $99.92.

Chesapeake Energy 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.