State Board of Administration of Florida Retirement System Sells 4,410 Shares of Chesapeake Energy Co. (NASDAQ:CHK)

State Board of Administration of Florida Retirement System cut its position in shares of Chesapeake Energy Co. (NASDAQ:CHKFree Report) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,019 shares of the company’s stock after selling 4,410 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Chesapeake Energy were worth $10,953,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CHK. Prelude Capital Management LLC boosted its holdings in Chesapeake Energy by 100.2% during the first quarter. Prelude Capital Management LLC now owns 10,014 shares of the company’s stock worth $871,000 after buying an additional 6,175,883 shares in the last quarter. Vanguard Group Inc. raised its position in Chesapeake Energy by 15.7% during the first quarter. Vanguard Group Inc. now owns 11,196,852 shares of the company’s stock worth $974,127,000 after acquiring an additional 1,517,281 shares during the period. Price T Rowe Associates Inc. MD raised its position in Chesapeake Energy by 3,273.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,462,502 shares of the company’s stock worth $138,016,000 after acquiring an additional 1,419,143 shares during the period. Clearbridge Investments LLC raised its position in Chesapeake Energy by 4,616.7% during the first quarter. Clearbridge Investments LLC now owns 1,396,744 shares of the company’s stock worth $121,517,000 after acquiring an additional 1,367,131 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new position in Chesapeake Energy during the second quarter worth $101,464,000. 97.93% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Energy Price Performance

Shares of CHK stock opened at $77.56 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.56 and a quick ratio of 1.56. The firm’s 50-day moving average is $77.00 and its two-hundred day moving average is $82.28. Chesapeake Energy Co. has a 12 month low of $69.68 and a 12 month high of $91.00. The company has a market capitalization of $10.17 billion, a PE ratio of 2.11, a price-to-earnings-growth ratio of 10.59 and a beta of 0.50.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CHK shares. Wells Fargo & Company reduced their price objective on shares of Chesapeake Energy from $89.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 22nd. StockNews.com cut shares of Chesapeake Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Johnson Rice cut shares of Chesapeake Energy from a “buy” rating to an “accumulate” rating in a research report on Thursday, December 14th. UBS Group raised their price target on shares of Chesapeake Energy from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, Citigroup raised shares of Chesapeake Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $82.00 to $95.00 in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $104.30.

Check Out Our Latest Stock Report on Chesapeake Energy

About Chesapeake Energy

(Free Report)

Chesapeake Energy Corporation, an independent exploration and production company, engages in the acquisition, exploration, and development of properties to produce 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.

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

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