Chesapeake Energy (CHK) Trading Up 10.3% Following Insider Buying Activity

Chesapeake Energy Co. (NYSE:CHK) was up 10.3% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $2.16 and last traded at $2.14. Approximately 63,671,617 shares changed hands during mid-day trading, an increase of 39% from the average daily volume of 45,767,938 shares. The stock had previously closed at $1.94.

Specifically, major shareholder Ngp Energy Capital Management, sold 5,913,736 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $3.29, for a total value of $19,456,191.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert D. Lawler bought 50,000 shares of Chesapeake Energy stock in a transaction dated Friday, May 24th. The stock was acquired at an average cost of $2.02 per share, with a total value of $101,000.00. Following the completion of the acquisition, the chief executive officer now owns 5,083,298 shares of the company’s stock, valued at $10,268,261.96. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Several research firms have recently issued reports on CHK. Zacks Investment Research lowered Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 16th. TheStreet lowered Chesapeake Energy from a “c” rating to a “d+” rating in a report on Wednesday, May 8th. Argus lowered Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. SunTrust Banks reissued a “hold” rating on shares of Chesapeake Energy in a report on Wednesday, May 8th. Finally, Guggenheim reissued a “neutral” rating on shares of Chesapeake Energy in a report on Wednesday, April 17th. Ten analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $4.01.

The stock has a market capitalization of $3.17 billion, a PE ratio of 2.27 and a beta of 2.39. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.72.

Chesapeake Energy (NYSE:CHK) last posted its earnings results on Wednesday, May 8th. The oil and gas exploration company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $1.13 billion. Chesapeake Energy had a negative return on equity of 138.70% and a net margin of 5.39%. The company’s revenue was down 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, analysts forecast that Chesapeake Energy Co. will post -0.06 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of CHK. Garrison Point Advisors LLC purchased a new stake in shares of Chesapeake Energy during the fourth quarter worth $25,000. Sigma Planning Corp purchased a new stake in shares of Chesapeake Energy during the fourth quarter worth $25,000. Bessemer Group Inc. lifted its position in shares of Chesapeake Energy by 1,081.8% during the fourth quarter. Bessemer Group Inc. now owns 11,818 shares of the oil and gas exploration company’s stock worth $25,000 after acquiring an additional 10,818 shares in the last quarter. Peak Asset Management LLC purchased a new stake in shares of Chesapeake Energy during the fourth quarter worth $26,000. Finally, FTB Advisors Inc. lifted its position in shares of Chesapeake Energy by 193.4% during the first quarter. FTB Advisors Inc. now owns 8,802 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 5,802 shares in the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.

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About Chesapeake Energy (NYSE:CHK)

Chesapeake Energy Corporation engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States. The company holds interests in natural gas resource plays, including the Marcellus in Northern Appalachian Basin in Pennsylvania; Haynesville located in Northwestern Louisiana; Eagle Ford in South Texas; Brazos Valley in Southeast Texas; Powder River Basin in Wyoming; and Mid-Continent in Anadarko Basin of northwestern Oklahoma.

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