Comerica Bank Has $2.30 Million Stake in Chesapeake Energy Co. (CHK)

Comerica Bank increased its stake in shares of Chesapeake Energy Co. (NYSE:CHK) by 160.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 758,928 shares of the oil and gas exploration company’s stock after acquiring an additional 467,148 shares during the period. Comerica Bank owned 0.08% of Chesapeake Energy worth $2,300,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CHK. Schwab Charles Investment Management Inc. increased its holdings in shares of Chesapeake Energy by 5.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 6,548,735 shares of the oil and gas exploration company’s stock valued at $25,933,000 after acquiring an additional 367,150 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Chesapeake Energy by 37.2% during the 4th quarter. State of Alaska Department of Revenue now owns 226,790 shares of the oil and gas exploration company’s stock valued at $897,000 after acquiring an additional 61,480 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Chesapeake Energy by 38.8% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 715,703 shares of the oil and gas exploration company’s stock valued at $2,834,000 after acquiring an additional 200,145 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Chesapeake Energy during the 4th quarter valued at about $1,343,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Chesapeake Energy by 41.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,909 shares of the oil and gas exploration company’s stock valued at $213,000 after acquiring an additional 15,804 shares during the last quarter. 58.17% of the stock is currently owned by institutional investors and hedge funds.

CHK opened at $4.64 on Thursday. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 4.83 and a beta of 1.79. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of -5.27. Chesapeake Energy Co. has a 12-month low of $2.53 and a 12-month high of $5.81.

Chesapeake Energy (NYSE:CHK) last announced its quarterly earnings data on Wednesday, May 2nd. The oil and gas exploration company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.09. Chesapeake Energy had a negative return on equity of 43.41% and a net margin of 11.67%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company earned $0.23 EPS. The company’s quarterly revenue was down 15.4% on a year-over-year basis. research analysts expect that Chesapeake Energy Co. will post 0.75 EPS for the current fiscal year.

CHK has been the topic of a number of analyst reports. UBS initiated coverage on Chesapeake Energy in a report on Wednesday, March 7th. They set a “buy” rating and a $2.80 price objective on the stock. ValuEngine lowered Chesapeake Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised Chesapeake Energy from a “sell” rating to a “hold” rating in a report on Tuesday, February 27th. Sanford C. Bernstein reissued a “hold” rating on shares of Chesapeake Energy in a report on Friday, February 23rd. Finally, Citigroup lowered Chesapeake Energy from a “neutral” rating to a “sell” rating and increased their price objective for the company from $3.11 to $5.00 in a report on Tuesday, April 17th. Ten equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $4.58.

Chesapeake Energy Profile

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 Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin in Pennsylvania.

Institutional Ownership by Quarter for Chesapeake Energy (NYSE:CHK)

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