Chesapeake Energy (NASDAQ:CHKEW) Trading Down 6.2%

Chesapeake Energy Co. (NASDAQ:CHKEW)’s stock price traded down 6.2% during mid-day trading on Thursday . The company traded as low as $60.70 and last traded at $60.70. 100 shares were traded during trading, a decline of 83% from the average session volume of 585 shares. The stock had previously closed at $64.70.

Chesapeake Energy Stock Performance

The stock’s 50-day simple moving average is $69.90 and its 200-day simple moving average is $75.15.

Institutional Investors Weigh In On Chesapeake Energy

An institutional investor recently bought a new position in Chesapeake Energy stock. Wolverine Asset Management LLC purchased a new stake in shares of Chesapeake Energy Co. (NASDAQ:CHKEW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 411 shares of the company’s stock, valued at approximately $31,000.

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.