Chesapeake Energy (NASDAQ:CHKEW) Trading 7.3% Higher – Here’s Why

Chesapeake Energy Co. (NASDAQ:CHKEW)’s stock price was up 7.3% on Tuesday . The company traded as high as $96.21 and last traded at $96.21. Approximately 2,619 shares traded hands during mid-day trading, an increase of 376% from the average daily volume of 550 shares. The stock had previously closed at $89.63.

Chesapeake Energy Stock Performance

The firm has a 50 day simple moving average of $88.33 and a 200-day simple moving average of $76.98.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Chesapeake Energy stock. Wolverine Asset Management LLC raised its holdings in Chesapeake Energy Co. (NASDAQ:CHKEW) by 144.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,004 shares of the company’s stock after purchasing an additional 593 shares during the quarter. Wolverine Asset Management LLC’s holdings in Chesapeake Energy were worth $72,000 as of its most recent SEC filing.

Chesapeake Energy Company 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.