Institutional Exposure To Chesapeake Energy Corporation (CHK)

Capital Research & Management Co has recently announced that it has increased stake in Chesapeake Energy Corporation (NASDAQ:CHK) by 6.62%. After grabbing 10.12 million shares, the institutional investor is now in possession of 0.63 million shares of the Energy Company. The new investment brought the stake of investor firm to 7.55% having worth around $1.04 billion. Moreover, Wellington Management Co. LLP increased its share by 1.16 million to have a control over 5.27 million shares. And Fidelity Management & Research Co raised its holdings to 76496.0 shares by acquiring 3.06 million shares or 2.28% of the stake.

Chesapeake Energy Corporation (CHK) concluded trading on 11/30/22 at a closing price of $103.50, with 9.13 million shares of worth about $945.18 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.20% during that period and on Wednesday the price saw a gain of about 4.23%. Currently the company’s common shares owned by public are about 133.97M shares, out of which, 127.75M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 52 times over the past 12 months. They bought 99,576 shares in 17 of the transactions. In 35 selling transactions, insiders dumped 15,531,435 shares.

American Funds Fundamental Invest, American Funds Growth Fund of Ame, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Chesapeake Energy Corporation American Funds Fundamental Invest is currently holding 3.5 million shares of worth totaling $357.94 million. The company recently came buying 0.0 shares which brought its stake up to 2.90% of the company’s outstanding shares. American Funds Growth Fund of Ame bought 1.04 million shares, after which its hold over company’s outstanding shares expand to 2.76%, leaving 3.33 million shares with the mutual fund that have a worth of about $341.06 million. Vanguard Total Stock Market Index, after buying 3.44 million shares, have now control over 2.57% of the stake in the company. It holds 17168.0 shares of worth $352.07 million.

Chesapeake Energy Corporation (NASDAQ: CHK) started trading at $100.45, above $1.15 from concluding price of the previous day. However, the stock later moved at a day high price of 103.92, or with a gain of 4.23%. Stock saw a price change of 1.29% in past 5 days and over the past one month there was a price change of 3.85%. Year-to-date (YTD), CHK shares are showing a performance of 74.07% which increased to 88.63% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $52.30 but also hit the highest price of $104.93 during that period. The average intraday trading volume for Chesapeake Energy Corporation shares is 1.94 million. The stock is currently trading 3.55% above its 20-day simple moving average (SMA20), while that difference is up 6.33% for SMA50 and it goes to 17.96% higher than SMA200.

Capital Research & Management Co acquired 10.12 million shares of Chesapeake Energy Corporation having value of about $1.04 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 0.63 million shares in the company valued at close to $65046024.0, or have control over 6.62% stake in the company. Chesapeake Energy Corporation (NASDAQ: CHK) currently have 133.97M outstanding shares and institutions hold larger chunk of about 98.40% of that. Holding of mutual funds in the company is about 38.19% while other institutional holders and individual stake holders have control over 47.99% and 27.49% of the stake respectively.

The stock has a current market capitalization of $13.69B. PE ratio of stock for trailing 12 months is 6.30, while it has posted earnings per share of $16.44 in the same period. Its PEG reads 0.29 and has Quick Ratio of 0.50 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CHK, volatility over the week remained 3.02% while standing at 3.70% over the month.

Analysts are in expectations that Chesapeake Energy Corporation (CHK) stock would likely to be making an EPS of $4.48 in the current quarter, while forecast for next quarter EPS is $4.16 and it is $20.68 for next year. For the current quarter EPS, analysts have given the company a lowest target $3.74 which is $5.4 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.38 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 105.40% while it is estimated to increase by 20.10% in next year.

Analysts at 15 brokerage firms have issued recommendations for the Chesapeake Energy Corporation (CHK)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 15 Wall Street analysts, 11 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on October 19, 2022 offering a Buy rating for the stock and assigned a target price of $150 to it. Coverage by The Benchmark Company stated Chesapeake Energy Corporation (CHK) stock as a Buy in their note to investors on August 02, 2022, suggesting a price target of $137 for the stock. On July 25, 2022, Scotiabank Resumed their recommendations, while on July 18, 2022, Goldman Initiated their ratings for the stock with a price target of $106. Stock get an Outperform rating from Credit Suisse on June 14, 2022.