Chesapeake Energy (NASDAQ:CHKEZ) Shares Up 11.1% – Here’s Why

Chesapeake Energy Co. (NASDAQ:CHKEZ)’s stock price shot up 11.1% during trading on Thursday . The company traded as high as $101.77 and last traded at $101.77. 31,790 shares traded hands during mid-day trading, an increase of 1,320% from the average session volume of 2,238 shares. The stock had previously closed at $91.61.

Chesapeake Energy Price Performance

The business’s 50-day moving average is $94.74 and its 200 day moving average is $82.60.

Hedge Funds Weigh In On Chesapeake Energy

An institutional investor recently raised its position in Chesapeake Energy stock. Wolverine Asset Management LLC increased its holdings in Chesapeake Energy Co. (NASDAQ:CHKEZ) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,963 shares of the company’s stock after purchasing an additional 1,674 shares during the quarter. Wolverine Asset Management LLC’s holdings in Chesapeake Energy were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

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.