Chesapeake Energy (NASDAQ:CHKEL) Trading 10.4% Higher – Still a Buy?

Shares of Chesapeake Energy Co. (NASDAQ:CHKEL) shot up 10.4% during trading on Wednesday . The company traded as high as $96.42 and last traded at $96.27. 14,178 shares traded hands during mid-day trading, an increase of 1,245% from the average session volume of 1,054 shares. The stock had previously closed at $87.22.

Chesapeake Energy Stock Up 0.4 %

The stock’s fifty day moving average price is $90.87 and its 200 day moving average price is $78.79.

Hedge Funds Weigh In On Chesapeake Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. GTS Securities LLC bought a new stake in Chesapeake Energy in the 4th quarter worth approximately $313,000. CSS LLC IL raised its stake in shares of Chesapeake Energy by 116.6% during the fourth quarter. CSS LLC IL now owns 11,325 shares of the company’s stock worth $708,000 after acquiring an additional 6,097 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Chesapeake Energy in the 4th quarter worth approximately $3,194,000. BNP Paribas Financial Markets purchased a new stake in shares of Chesapeake Energy in the 4th quarter valued at $27,000. Finally, Voya Investment Management LLC grew its holdings in shares of Chesapeake Energy by 8.9% during the 4th quarter. Voya Investment Management LLC now owns 196,342 shares of the company’s stock valued at $12,271,000 after purchasing an additional 15,995 shares during the last quarter.

About Chesapeake Energy

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.