Chesapeake Energy (NASDAQ:CHKEL) Trading Down 4.7% – Should You Sell?

Chesapeake Energy Co. (NASDAQ:CHKEL)’s share price was down 4.7% during mid-day trading on Friday . The company traded as low as $68.01 and last traded at $68.01. Approximately 978 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 1,054 shares. The stock had previously closed at $71.34.

Chesapeake Energy Stock Performance

The firm’s 50-day moving average price is $59.46 and its 200 day moving average price is $65.98.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Chesapeake Energy during the first quarter worth $569,000. Warberg Asset Management LLC raised its holdings in shares of Chesapeake Energy by 27.7% during the second quarter. Warberg Asset Management LLC now owns 38,488 shares of the company’s stock worth $2,521,000 after purchasing an additional 8,360 shares during the period. Finally, Bluefin Capital Management LLC lifted its position in shares of Chesapeake Energy by 0.4% in the 1st quarter. Bluefin Capital Management LLC now owns 1,212,683 shares of the company’s stock worth $88,950,000 after buying an additional 5,167 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.