Chesapeake Energy (NASDAQ:CHKEZ) Trading Up 4.2% – Still a Buy?

Chesapeake Energy Co. (NASDAQ:CHKEZ)’s stock price shot up 4.2% during mid-day trading on Wednesday . The company traded as high as $94.00 and last traded at $94.00. 11,768 shares changed hands during mid-day trading, an increase of 426% from the average session volume of 2,238 shares. The stock had previously closed at $90.21.

Chesapeake Energy Price Performance

The company has a 50 day simple moving average of $84.50 and a 200-day simple moving average of $72.65.

Hedge Funds Weigh In On Chesapeake Energy

Large investors have recently modified their holdings of the business. Warberg Asset Management LLC boosted its holdings in shares of Chesapeake Energy by 228.1% in the second quarter. Warberg Asset Management LLC now owns 52,233 shares of the company’s stock worth $3,623,000 after acquiring an additional 36,311 shares during the period. Bluefin Capital Management LLC lifted its holdings in Chesapeake Energy by 0.7% during the 2nd quarter. Bluefin Capital Management LLC now owns 1,253,627 shares of the company’s stock worth $86,162,000 after purchasing an additional 8,331 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in Chesapeake Energy by 701.6% in the 3rd quarter. Wolverine Asset Management LLC now owns 8,289 shares of the company’s stock worth $531,000 after purchasing an additional 7,255 shares during the period.

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.