State of Alaska Department of Revenue Purchases 875 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

State of Alaska Department of Revenue lifted its position in shares of Chesapeake Energy Co. (NASDAQ:CHK) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,465 shares of the company’s stock after buying an additional 875 shares during the quarter. State of Alaska Department of Revenue’s holdings in Chesapeake Energy were worth $1,600,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in Chesapeake Energy by 705.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 29,229 shares of the company’s stock worth $2,402,000 after buying an additional 25,600 shares in the last quarter. Quantbot Technologies LP purchased a new position in Chesapeake Energy in the first quarter valued at about $1,006,000. Russell Investments Group Ltd. raised its holdings in Chesapeake Energy by 66.4% in the first quarter. Russell Investments Group Ltd. now owns 119,470 shares of the company’s stock worth $10,612,000 after purchasing an additional 47,658 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chesapeake Energy during the first quarter valued at about $37,000. Finally, Wedge Capital Management L L P NC lifted its position in shares of Chesapeake Energy by 16.2% during the second quarter. Wedge Capital Management L L P NC now owns 284,263 shares of the company’s stock valued at $23,364,000 after buying an additional 39,734 shares during the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Roth Capital upgraded shares of Chesapeake Energy to a “strong-buy” rating in a research note on Friday, September 27th. Mizuho reduced their price target on Chesapeake Energy from $111.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company raised their price objective on Chesapeake Energy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Wolfe Research started coverage on Chesapeake Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $110.00 target price on the stock. Finally, Roth Mkm assumed coverage on Chesapeake Energy in a report on Friday, September 27th. They issued a “buy” rating and a $92.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.92.

Chesapeake Energy Stock Performance

CHK opened at $81.46 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19. Chesapeake Energy Co. has a 12-month low of $69.12 and a 12-month high of $93.58. The firm has a 50 day moving average of $77.48 and a two-hundred day moving average of $81.68. The firm has a market capitalization of $10.68 billion, a PE ratio of 10.98 and a beta of 0.47.

Chesapeake Energy Profile

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.