Chief Executive Officer of Chesapeake Energy Corporation (NYSE:CHK), the second-biggest United States gas producer, Aubrey McClendon informed workers in a 2008 e-mail that the corporation paid twice almost it should have for drilling rights as dropping natural-gas prices dashed outlooks for profitable new wells, as said by court filings.
Peak’s lawyers reported in court filings in a court case that McClendon reported that the company overpaid for leases just days before Chesapeake canceled of a contract to acquire oil and gas rights from Peak Energy Corp. That case directed to a damage award of around $20 million against Chesapeake.
The natural-gas provider Chesapeake has lost around 40% of its market value in the previous year as the effect of dropping energy prices was compounded by questions regarding McClendon’s personal financial dealings.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Linn Energy, LLC (NASDAQ:LINE) surged +2.19% to settle at $35.99, Gastar Exploration Limited (USA) (AMEX:GST) moved up +3.70% to end at $1.96 while Bonanza Creek Energy Inc (NYSE:BCEI) surged +0.39% to finish on Tuesday at $15.26.
Chesapeake Energy Corporation (NYSE:CHK) began the last trading session with a price of $17.04 and throughout the session climbed at a high of $17.17 but when day-trade ended the stock finally advanced +0.12% to $17.05.
CHK had a trade volume of 23.72 million shares was lower as compared to average trading capacity of 35.62 million shares.
The stock is ahead its 52 week low with +28.00% and lagging behind from its 52 week high price with -51.76%. CHK last month stock price volatility remained 5.28%. In its share capital CHK has 662.34 million outstanding shares among them 657.23 million shares have been floated in market exchange. CHK stock institutional ownership remained 74.48% while insider ownership included 1.25%.
Shares price of CHK moved down from its 20 days moving average with -2.52% and remote positively from 50 days moving average with +0.04%. CHK current year earnings per share experienced an addition with -7.81% while its current quarter performance remained -29.34%. Company’s beta coefficient included 1.26. Beta factors measures the amount of market risk associated with market trade.
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