Hallmark Capital Management Lifted Its Amerisourcebergen (ABC) Stake by $654,374; Chesapeake Energy (CHK) Stock Value Rose While Akanthos Capital Management Cut Stake

June 19, 2018 - By Richard Conner

Chesapeake Energy Corporation (NYSE:CHK) Logo

Michael Kao decreased its stake in Chesapeake Energy Corp (CHK) by 14.29% based on its latest 2018Q1 regulatory filing with the SEC. Akanthos Capital Management Llc sold 250,000 shares as the company’s stock rose 33.96% while stock markets declined. The hedge fund run by Michael Kao held 1.50M shares of the oil & gas production company at the end of 2018Q1, valued at $4.53 million, down from 1.75 million at the end of the previous reported quarter. Akanthos Capital Management Llc who had been investing in Chesapeake Energy Corp for a number of months, seems to be less bullish one the $4.25 billion market cap company. The stock increased 2.16% or $0.1 during the last trading session, reaching $4.74. About 25.40M shares traded. Chesapeake Energy Corporation (NYSE:CHK) has declined 16.99% since June 19, 2017 and is downtrending. It has underperformed by 29.56% the S&P500. Some Historical CHK News: 09/04/2018 – Enviva Partners, LP Provides Update on Previously Reported Incident at Chesapeake Terminal; 03/04/2018 – Fitch Expects to Rate Chesapeake Funding II LLC, Series 2018-1; Presale Issued; 02/05/2018 – CHESAPEAKE SEES YR CAPEX $1.8B-$2.2B; 09/04/2018 – Maryland Public Television presents 14th annual Chesapeake Bay Week; 15/05/2018 – Southeastern Asset Management In Exits Chesapeake Energy; 28/03/2018 – CHESAPEAKE: MOVING 4TH RIG INTO POWDER RIVER BASIN IN APRIL; 02/05/2018 – Chesapeake Energy 1Q Adjusted Ebitda $733M; 02/05/2018 – Chesapeake Energy 1Q Rev $2.49B; 03/05/2018 – ENVIVA PARTNERS – SPECIFIC QUARTERLY TIMING OF SHIPMENTS MAY BE AFFECTED DUE TO CHESAPEAKE INCIDENT; 28/03/2018 – CHESAPEAKE ENERGY CORP CHK.N CHIEF EXECUTIVE DOUG LAWLER SAYS ‘NOT DESPERATE TO SELL ASSETS’

Hallmark Capital Management Inc increased its stake in Amerisourcebergen Corp (ABC) by 4.64% based on its latest 2018Q1 regulatory filing with the SEC. Hallmark Capital Management Inc bought 7,609 shares as the company’s stock declined 15.00% with the market. The institutional investor held 171,616 shares of the other pharmaceuticals company at the end of 2018Q1, valued at $14.80M, up from 164,007 at the end of the previous reported quarter. Hallmark Capital Management Inc who had been investing in Amerisourcebergen Corp for a number of months, seems to be bullish on the $20.13 billion market cap company. The stock decreased 3.46% or $3.28 during the last trading session, reaching $91.57. About 1.27M shares traded. AmerisourceBergen Corporation (NYSE:ABC) has declined 6.17% since June 19, 2017 and is downtrending. It has underperformed by 18.74% the S&P500. Some Historical ABC News: 02/05/2018 – AmerisourceBergen Sees FY Adj EPS $6.45-Adj EPS $6.65; 02/05/2018 – AmerisourceBergen 2Q EPS $1.29; 02/05/2018 – AmerisourceBergen Sees FY18 Adjusted EPS at Bottom of Guidance Range of EPS $6.45- EPS $6.6; 15/05/2018 – Vulcan Adds Facebook, Exits Booking, Cuts AmerisourceBergen: 13F; 02/05/2018 – AmerisourceBergen 2Q Adj EPS $1.94; 20/03/2018 – DRUG DISTRIBUTORS AMERISOURCEBERGEN, MCKESSON, CARDINAL PLUNGE; 02/04/2018 – AMERISOURCEBERGEN – PRODUCTION AT PHARMEDIUM’S MEMPHIS OUTSOURCING FACILITY REMAINS VOLUNTARILY SUSPENDED; 15/05/2018 – Florida Also Suing Painkiller Distributors AmerisourceBergen, Cardinal Health and McKesson Corp; 09/03/2018 – The Moyer Foundation Receives Grant from the AmerisourceBergen Foundation to Launch New Community Program for Children Living; 26/04/2018 – AMERISOURCEBERGEN FOUNDATION CREATES OPIOID RESOURCE GRANT

Among 20 analysts covering AmerisourceBergen (NYSE:ABC), 12 have Buy rating, 0 Sell and 8 Hold. Therefore 60% are positive. AmerisourceBergen had 74 analyst reports since July 27, 2015 according to SRatingsIntel. Mizuho maintained AmerisourceBergen Corporation (NYSE:ABC) rating on Tuesday, February 6. Mizuho has “Hold” rating and $99.0 target. On Monday, April 2 the stock rating was maintained by RBC Capital Markets with “Hold”. The stock has “Buy” rating by Needham on Tuesday, April 4. Leerink Swann upgraded it to “Outperform” rating and $9 target in Tuesday, January 17 report. Goldman Sachs upgraded the shares of ABC in report on Friday, December 15 to “Buy” rating. The company was upgraded on Thursday, January 12 by Bank of America. The firm has “Neutral” rating given on Friday, June 30 by Bank of America. The company was maintained on Friday, May 6 by RBC Capital Markets. The firm has “Hold” rating by RBC Capital Markets given on Tuesday, February 6. Credit Suisse maintained AmerisourceBergen Corporation (NYSE:ABC) on Wednesday, February 7 with “Buy” rating.

Another recent and important AmerisourceBergen Corporation (NYSE:ABC) news was published by Gurufocus.com which published an article titled: “‘Time Travel’ With Pharmaceutical Distributors Part 1 – First-Level Information and Thinking” on June 17, 2018.

Hallmark Capital Management Inc, which manages about $816.74M and $822.22M US Long portfolio, decreased its stake in Blackrock Inc (NYSE:BLK) by 1,916 shares to 34,966 shares, valued at $18.94M in 2018Q1, according to the filing. It also reduced its holding in Anthem Inc (NYSE:ANTM) by 1,682 shares in the quarter, leaving it with 83,740 shares, and cut its stake in Microsoft Corporation (NASDAQ:MSFT).

Analysts await Chesapeake Energy Corporation (NYSE:CHK) to report earnings on August, 2. They expect $0.13 EPS, down 27.78% or $0.05 from last year’s $0.18 per share. CHK’s profit will be $116.67M for 9.12 P/E if the $0.13 EPS becomes a reality. After $0.34 actual EPS reported by Chesapeake Energy Corporation for the previous quarter, Wall Street now forecasts -61.76% negative EPS growth.

Among 33 analysts covering Chesapeake Energy Corporation (NYSE:CHK), 8 have Buy rating, 11 Sell and 14 Hold. Therefore 24% are positive. Chesapeake Energy Corporation had 98 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Sell” rating on Friday, May 6 by UBS. The firm earned “Sell” rating on Thursday, August 6 by UBS. The rating was maintained by Susquehanna with “Hold” on Monday, March 5. On Friday, July 21 the stock rating was maintained by Citigroup with “Neutral”. Raymond James downgraded Chesapeake Energy Corporation (NYSE:CHK) on Monday, January 4 to “Underperform” rating. The rating was maintained by Barclays Capital on Friday, January 29 with “Underweight”. Credit Suisse downgraded the shares of CHK in report on Wednesday, July 22 to “Neutral” rating. Jefferies maintained the stock with “Hold” rating in Wednesday, July 19 report. UBS maintained Chesapeake Energy Corporation (NYSE:CHK) rating on Friday, October 21. UBS has “Sell” rating and $6 target. The stock of Chesapeake Energy Corporation (NYSE:CHK) has “Neutral” rating given on Tuesday, January 26 by Susquehanna.

More notable recent Chesapeake Energy Corporation (NYSE:CHK) news were published by: Seekingalpha.com which released: “Chesapeake Energy: Looking Better, But Stay Cautious” on June 11, 2018, also Seekingalpha.com with their article: “Buy Alibaba – Cramer’s Lightning Round (6/12/18)” published on June 13, 2018, Seekingalpha.com published: “Chesapeake Energy Common Is Making Its Move” on May 21, 2018. More interesting news about Chesapeake Energy Corporation (NYSE:CHK) were released by: Seekingalpha.com and their article: “Energy Recap: OPEC Meeting On The Horizon” published on June 15, 2018 as well as 247Wallst.com‘s news article titled: “Natural Gas Price Slips on Large Build to Stockpiles” with publication date: June 14, 2018.

Chesapeake Energy Corporation (NYSE:CHK) Institutional Positions Chart

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