Chesapeake Energy (NASDAQ:CHKEW) Trading Up 8.8% – Still a Buy?

Chesapeake Energy Co. (NASDAQ:CHKEW)’s stock price was up 8.8% during trading on Tuesday . The stock traded as high as $78.25 and last traded at $78.25. Approximately 143 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 550 shares. The stock had previously closed at $71.89.

Chesapeake Energy Stock Performance

The firm has a 50 day simple moving average of $66.60 and a 200-day simple moving average of $74.12.

Institutional Investors Weigh In On Chesapeake Energy

An institutional investor recently raised its position in Chesapeake Energy stock. Warberg Asset Management LLC lifted its stake in Chesapeake Energy Co. (NASDAQ:CHKEW) by 55.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,300 shares of the company’s stock after purchasing an additional 5,787 shares during the period. Warberg Asset Management LLC’s holdings in Chesapeake Energy were worth $1,208,000 at the end of the most recent quarter.

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.