Is This the Best Time to Invest in Chesapeake Energy Corporation (CHK)?

Soumya Eswaran
·2 min read

Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Mid Cap Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund underperformed in the quarter relative to its benchmark Russell Midcap Index. Inflation and the Fed’s actions impacted the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Chesapeake Energy Corporation (NASDAQ:CHK) in its Q3 2022 investor letter. Headquartered in Oklahoma City, Oklahoma, Chesapeake Energy Corporation (NASDAQ:CHK) is an oil, natural gas, and natural gas liquids production and exploration company. On December 30, 2022, Chesapeake Energy Corporation (NASDAQ:CHK) stock closed at $94.37 per share. One-month return of Chesapeake Energy Corporation (NASDAQ:CHK) was -7.25%, and its shares gained 46.26% of their value over the last 52 weeks. Chesapeake Energy Corporation (NASDAQ:CHK) has a market capitalization of $12.643 billion.

Carillon Tower Advisers made the following comment about Chesapeake Energy Corporation (NASDAQ:CHK) in its Q3 2022 investor letter:

“Chesapeake Energy Corporation (NASDAQ:CHK), a natural gas exploration and production company, emerged from bankruptcy with little fanfare in 2021, despite having rid itself of its debt burden and onerous pipeline contracts. The company was able to make two large acquisitions at very reasonable prices within its core producing areas, allowing for scale and cost savings. Then in 2022, natural gas prices began to rise well above expectations, increasing the value of Chesapeake’s large natural gas resources and production and contributing to its outperformance.”

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Copyright: Elnur / 123RF Stock Photo

Chesapeake Energy Corporation (NASDAQ:CHK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 70 hedge fund portfolios held Chesapeake Energy Corporation (NASDAQ:CHK) at the end of the third quarter, which was 67 in the previous quarter.

We discussed Chesapeake Energy Corporation (NASDAQ:CHK) in another article and shared the best dividend stocks paying over 6%. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.