Connor Clark & Lunn Investment Management Ltd. Takes $1.71 Million Position in Chesapeake Energy Co. (CHK)

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Connor Clark & Lunn Investment Management Ltd. bought a new stake in Chesapeake Energy Co. (NYSE:CHK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 813,900 shares of the oil and gas exploration company’s stock, valued at approximately $1,709,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Chesapeake Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CHK. Sigma Planning Corp acquired a new stake in Chesapeake Energy in the fourth quarter valued at approximately $25,000. Garrison Point Advisors LLC acquired a new stake in Chesapeake Energy in the fourth quarter valued at approximately $25,000. Bessemer Group Inc. lifted its stake in Chesapeake Energy by 1,081.8% in the fourth quarter. Bessemer Group Inc. now owns 11,818 shares of the oil and gas exploration company’s stock valued at $25,000 after acquiring an additional 10,818 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Chesapeake Energy in the fourth quarter valued at approximately $27,000. Finally, Wealth Architects LLC acquired a new stake in Chesapeake Energy in the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 58.81% of the company’s stock.

In related news, Director Archie W. Dunham bought 2,100,000 shares of the company’s stock in a transaction that occurred on Friday, December 21st. The shares were acquired at an average price of $1.97 per share, with a total value of $4,137,000.00. Following the completion of the transaction, the director now owns 9,347,375 shares of the company’s stock, valued at approximately $18,414,328.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Domenic J. Dell’osso, Jr. bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The shares were bought at an average cost of $1.88 per share, for a total transaction of $94,000.00. Following the transaction, the insider now directly owns 1,403,283 shares of the company’s stock, valued at approximately $2,638,172.04. The disclosure for this purchase can be found here. Insiders bought 3,730,000 shares of company stock valued at $7,597,400 over the last 90 days. 1.70% of the stock is owned by corporate insiders.

CHK has been the subject of a number of analyst reports. MKM Partners set a $3.00 target price on shares of Chesapeake Energy and gave the company a “hold” rating in a research note on Tuesday, March 5th. SunTrust Banks reiterated a “hold” rating and issued a $3.00 target price on shares of Chesapeake Energy in a research note on Thursday, November 29th. Piper Jaffray Companies reiterated a “hold” rating and issued a $5.00 target price on shares of Chesapeake Energy in a research note on Monday, November 19th. Imperial Capital reduced their target price on shares of Chesapeake Energy from $5.00 to $3.00 and set an “in-line” rating for the company in a research note on Thursday, January 10th. Finally, Citigroup lifted their target price on shares of Chesapeake Energy from $2.50 to $3.50 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Nine investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $4.05.

Shares of Chesapeake Energy stock opened at $3.10 on Friday. Chesapeake Energy Co. has a 1-year low of $1.71 and a 1-year high of $5.60. The firm has a market capitalization of $4.94 billion, a PE ratio of 3.44, a PEG ratio of 0.79 and a beta of 2.44.

Chesapeake Energy (NYSE:CHK) last issued its quarterly earnings data on Wednesday, February 27th. The oil and gas exploration company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. Chesapeake Energy had a net margin of 8.31% and a negative return on equity of 58.05%. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $0.30 earnings per share. Chesapeake Energy’s revenue for the quarter was up 21.8% on a year-over-year basis. Research analysts anticipate that Chesapeake Energy Co. will post 0.55 EPS for the current fiscal year.

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Chesapeake Energy Company 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.

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

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