Chesapeake Energy Co. (NASDAQ:CHK) Shares Bought by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC raised its stake in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 33.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,174,010 shares of the company’s stock after purchasing an additional 293,116 shares during the quarter. Chesapeake Energy comprises about 1.9% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 8th largest position. Ceredex Value Advisors LLC’s holdings in Chesapeake Energy were worth $96,562,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CHK. Price T Rowe Associates Inc. MD lifted its holdings in shares of Chesapeake Energy by 233.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,059,644 shares of the company’s stock valued at $804,769,000 after purchasing an additional 6,338,963 shares in the last quarter. Kimmeridge Energy Management Company LLC lifted its stake in Chesapeake Energy by 28.8% in the 2nd quarter. Kimmeridge Energy Management Company LLC now owns 3,694,879 shares of the company’s stock valued at $303,682,000 after acquiring an additional 827,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Chesapeake Energy by 18.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,333,769 shares of the company’s stock valued at $274,005,000 after acquiring an additional 510,664 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Chesapeake Energy by 247.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 687,954 shares of the company’s stock valued at $56,543,000 after acquiring an additional 490,201 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Chesapeake Energy by 13.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 2,599,352 shares of the company’s stock valued at $230,900,000 after acquiring an additional 307,814 shares in the last quarter. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Energy Stock Performance

CHK opened at $81.46 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.16 and a current ratio of 2.16. Chesapeake Energy Co. has a 52-week low of $69.12 and a 52-week high of $93.58. The firm has a market cap of $10.68 billion, a P/E ratio of 10.98 and a beta of 0.47. The business’s fifty day moving average is $77.48 and its 200-day moving average is $81.68.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wolfe Research assumed coverage on Chesapeake Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $110.00 target price on the stock. Wells Fargo & Company upped their price objective on Chesapeake Energy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Scotiabank dropped their price objective on Chesapeake Energy from $110.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 20th. Stephens upped their price objective on Chesapeake Energy from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Mizuho dropped their price objective on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.92.

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.