September 14, 2016 - 5:23 PM EDT
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Basic Materials Sector Feels Loss of 5.84% for Chesapeake Energy Corporation (CHK) in Early Trading on September 13

Chesapeake Energy Corporation (CHK) started the trading day on a down note, making it one of the worst performing stocks in the basic materials sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 13. Shares of CHK have fallen 5.84% about 30 minutes into the session to $7.58 after closing the day prior at $8.05. It’s early, but the stock has traded as high as $7.76 and as low as $7.54 so far. Today's quick decline has come with about 5.22 million shares changing hands, compared to an average 30-day volume of 49.81 million for Chesapeake Energy Corporation. The price is currently below the 30-day volume weighted average price of $7.64 for CHK. The share depreciation gives the company a market capitalization of $6.25 billion based upon 776.96 million shares outstanding. It also means that CHK has a price-to-book ratio of 1.84:1. In the past 52 weeks, shares of CHK have traded as low as $1.5 and as high as $9.55. Technical traders will take note that at $7.58, shares of CHK are trading above their 200-day MA at $4.55 and above their 50-day MA at $5.49. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish. Who is CHK? Chesapeake Energy Corp is a natural gas and oil exploration and production company. It explores, develops and acquires properties for the production of natural gas and crude oil from underground reservoirs and also provides marketing & midstream services. The company’s 4400 employees are led by CEO Robert D. Lawler from the corporate headquarters at 6100 North Western Avenue in Oklahoma City, OK. For more information on CHK and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 9:30 AM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.


Source: Financial Press News (September 14, 2016 - 5:23 PM EDT)

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