Chesapeake Energy (NASDAQ:CHKEL) Trading Up 10.4% – Here’s What Happened

Chesapeake Energy Co. (NASDAQ:CHKEL)’s stock price traded up 10.4% during trading on Wednesday . The company traded as high as $96.42 and last traded at $96.27. 14,178 shares changed 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 10.4 %

The business’s 50 day simple moving average is $90.71 and its 200 day simple moving average is $78.66.

Hedge Funds Weigh In On Chesapeake Energy

A number of large investors have recently made changes to their positions in CHKEL. Voya Investment Management LLC lifted its position in shares of Chesapeake Energy by 8.9% in the 4th quarter. Voya Investment Management LLC now owns 196,342 shares of the company’s stock worth $12,271,000 after purchasing an additional 15,995 shares during the period. Oaktree Capital Management LP purchased a new stake in shares of Chesapeake Energy in the 4th quarter worth approximately $5,956,000. LMR Partners LLP purchased a new stake in shares of Chesapeake Energy in the 4th quarter worth approximately $3,194,000. Warberg Asset Management LLC lifted its position in shares of Chesapeake Energy by 28.0% in the 4th quarter. Warberg Asset Management LLC now owns 47,922 shares of the company’s stock worth $2,995,000 after purchasing an additional 10,476 shares during the period. Finally, Wolverine Asset Management LLC lifted its position in shares of Chesapeake Energy by 983.8% in the 4th quarter. Wolverine Asset Management LLC now owns 16,419 shares of the company’s stock worth $1,026,000 after purchasing an additional 14,904 shares during the period.

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.