Chesapeake Energy (NASDAQ:CHK) Stock Price Down 4.2% Following Insider Selling

Chesapeake Energy Co. (NASDAQ:CHKGet Rating)’s share price was down 4.2% on Tuesday after an insider sold shares in the company. The company traded as low as $90.49 and last traded at $90.91. Approximately 26,068 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 1,773,895 shares. The stock had previously closed at $94.92.

Specifically, major shareholder Holdings L.P. Blackstone III sold 6,965 shares of Chesapeake Energy stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $95.05, for a total transaction of $662,023.25. Following the completion of the sale, the insider now owns 4,217,146 shares of the company’s stock, valued at approximately $400,839,727.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

CHK has been the topic of a number of recent analyst reports. Wolfe Research lifted their price target on shares of Chesapeake Energy from $104.00 to $111.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 5th. Zacks Investment Research cut shares of Chesapeake Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 5th. JPMorgan Chase & Co. initiated coverage on shares of Chesapeake Energy in a research report on Friday, February 11th. They set an “overweight” rating and a $85.00 price target on the stock. MKM Partners lifted their price target on shares of Chesapeake Energy from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, January 26th. Finally, Bank of America initiated coverage on shares of Chesapeake Energy in a research report on Monday, January 10th. They set a “buy” rating and a $90.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $89.55.

The firm’s 50-day moving average is $80.62 and its 200 day moving average is $70.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86.

Chesapeake Energy (NASDAQ:CHKGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported $2.39 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.01). The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Chesapeake Energy had a net margin of 108.93% and a return on equity of 160.87%. During the same period in the prior year, the firm posted ($42.54) earnings per share. On average, equities analysts predict that Chesapeake Energy Co. will post 12 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 22nd. Shareholders of record on Monday, March 7th were given a dividend of $0.438 per share. The ex-dividend date of this dividend was Friday, March 4th. This is a boost from Chesapeake Energy’s previous quarterly dividend of $0.44. This represents a $1.75 annualized dividend and a yield of 1.92%.

A number of large investors have recently modified their holdings of the business. Loomis Sayles & Co. L P lifted its position in Chesapeake Energy by 27.9% during the 4th quarter. Loomis Sayles & Co. L P now owns 867 shares of the company’s stock worth $56,000 after buying an additional 189 shares in the last quarter. First Mercantile Trust Co. lifted its position in Chesapeake Energy by 30.6% during the 3rd quarter. First Mercantile Trust Co. now owns 1,360 shares of the company’s stock worth $84,000 after buying an additional 319 shares in the last quarter. Xponance Inc. lifted its position in Chesapeake Energy by 7.2% during the 4th quarter. Xponance Inc. now owns 4,980 shares of the company’s stock worth $321,000 after buying an additional 334 shares in the last quarter. Confluence Investment Management LLC increased its stake in shares of Chesapeake Energy by 8.1% during the 1st quarter. Confluence Investment Management LLC now owns 4,796 shares of the company’s stock worth $417,000 after purchasing an additional 359 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Chesapeake Energy during the 4th quarter worth about $33,000.

About Chesapeake Energy (NASDAQ:CHK)

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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