Chesapeake Energy (NASDAQ:CHKEW) Shares Up 3.8% – Here’s Why

Chesapeake Energy Co. (NASDAQ:CHKEW) shot up 3.8% during mid-day trading on Wednesday . The company traded as high as $82.20 and last traded at $82.20. 100 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 550 shares. The stock had previously closed at $79.19.

Chesapeake Energy Trading Up 3.8 %

The stock’s 50-day simple moving average is $69.28 and its 200-day simple moving average is $73.73.

Institutional Investors Weigh In On Chesapeake Energy

An institutional investor recently bought a new position in Chesapeake Energy stock. Wolverine Asset Management LLC bought a new position in Chesapeake Energy Co. (NASDAQ:CHKEW) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 411 shares of the company’s stock, valued at approximately $31,000.

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.