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

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

Chesapeake Energy Price Performance

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

Institutional Investors Weigh In On Chesapeake Energy

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

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.