|Bid||1.6600 x 308700|
|Ask||1.6700 x 40000|
|Day's range||1.6200 - 1.6800|
|52-week range||1.5700 - 4.9800|
|Beta (3Y monthly)||2.61|
|PE ratio (TTM)||N/A|
|Earnings date||6 Aug 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||2.60|
Investors seeking stocks with high reward potential might want to consider this pharmaceutical company, oil and gas driller, and wind blade maker instead of wading into the high-risk penny stock market.
On Monday, Jefferies reduced its target price on Chesapeake Energy ~50% to $1. This week, the company should close between $1.76 and $2.1 68.0% of the time.
Chesapeake Energy (CHK) closed at $1.90 in the latest trading session, marking a -0.52% move from the prior day.
At 7:12 AM ET on July 1, US crude oil active futures were trading 2.2% higher compared to last week. Energy stocks might open higher on July 1 due to oil's gains.
Chesapeake stock has fallen 60% in the last year, but Morgan Stanley says the company is in good position to pay down debt and benefit from asset sales in the months ahead.
Chesapeake Energy and Range Resources were among the stocks that had the highest correlation with US crude oil prices. On June 19–26, US crude oil active futures rose 10%.
Chesapeake Energy had the highest negative correlation with natural gas prices. Cabot Oil & Gas had the most negative correlation of 88.8% with US crude oil prices.
Natural gas prices fell to their lowest level in more than three years after U.S. government data revealed a weekly injection in domestic stockpiles that was much more than expected.
In the latest trading session, Chesapeake Energy (CHK) closed at $1.95, marking a -1.52% move from the previous day.
As of 7:14 AM ET on June 20, US crude oil August futures have risen 3.4% from the last closing level due to rising geopolitical tension in the Middle East. Iran shot down a US military drone in the international airspace.
Chesapeake Energy and Southwestern Energy were among the stocks that had the highest correlation with US crude oil prices. On June 12–19, US crude oil active futures rose 5.1%.
On June 20, the EIA is scheduled to release its natural gas inventory report for the week ending June 14. Any rise less than ~76 billion cubic feet could cause the inventories spread to expand more into the negative territory.
On June 18, natural gas July futures fell 2.4% and settled at $2.33 per million British thermal units. On the same day, Chesapeake Energy (CHK) and Gulfport Energy (GPOR) rose 3.8% and 1.8%, respectively.
Despite a slight recovery, natural gas prices remained close to the lowest levels in three years because of growing fears that soaring production is outpacing demand growth.
Last week, natural gas July futures rose 2.1% and settled at $2.387 per million British thermal units. Bullish inventory data and higher demand could be behind the recovery in natural gas prices.
Oil prices can have a significant impact on the entire energy sector not just on oil-weighted stocks. Oil prices are often important for the energy sector’s general sentiment, which explains the different trend in correlations among natural-gas-weighted stocks with oil and natural gas prices.
Will Rise in Natural Gas Prices Continue?(Continued from Prior Part)Inventories spreadIn the week ending May 31, the inventories spread was -10.8%. During this period, the negative inventories spread contracted by ~1.3 percentage points compared to
Why Chesapeake Energy Has Been an Outperformer in JuneChesapeake Energy has seen a small decline in JuneMonth-to-date, as of June 11, Chesapeake Energy (CHK) stock is down just 1%. The SPDR S&P Oil & Gas Exploration & Production ETF