Oklahoma City’s Chesapeake Energy has become the target of two major U.S. investment firms with each just acquiring 6 to 7 % of the shares in the company.
Filings made by Chesapeake Energy with the U.S. Securities Exchange Commission show State Street, the 3rd largest investment advising firm in the world purchased 55,212,444 shares of Chesapeake this week. It represents 6.08% ownership of shares in the company.
State Street controls nearly $2.8 trillion in investments globally.
The second firm, Harris Associates L.P. based in Chicago, Illinois purchased 64,980,152 shares or 7.1% of the company. Harris, a firm founded in 1976 managed $140 billion in assets as of December 2017.