Chesapeake Energy (NASDAQ:CHKEW) Trading Up 7.3% – Still a Buy?

Shares of Chesapeake Energy Co. (NASDAQ:CHKEW) were up 7.3% during mid-day trading on Tuesday . The company traded as high as $96.21 and last traded at $96.21. Approximately 2,619 shares changed hands during trading, an increase of 376% from the average daily volume of 550 shares. The stock had previously closed at $89.63.

Chesapeake Energy Price Performance

The firm has a 50-day moving average price of $88.33 and a two-hundred day moving average price of $76.98.

Institutional Trading of Chesapeake Energy

An institutional investor recently raised its position in Chesapeake Energy stock. Wolverine Asset Management LLC boosted its holdings in shares of Chesapeake Energy Co. (NASDAQ:CHKEW) by 144.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,004 shares of the company’s stock after purchasing an additional 593 shares during the period. Wolverine Asset Management LLC’s holdings in Chesapeake Energy were worth $72,000 as of its most recent SEC filing.

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.