November 6, 2019 - 4:38 PM EST
Print Email Article Font Down Font Up
Here's Why Chesapeake Energy Stock Got Crushed Today

Shares of Chesapeake Energy (NYSE: CHK) finished down almost 30% on Nov. 6. Today's sell-off is a continuation of yesterday's drop, following the release of the Chesapeake's third-quarter results before the market opened. 

Yesterday the company reported that it lost almost $190 million on an adjusted basis, or an $0.11 loss per share. That was even bigger than the estimates, and it reflected a combination of Chesapeake's ongoing struggles with low oil and natural gas prices and a decline in volumes after having sold off some assets over the past year -- yet another example of how oil and gas producers are one of the most difficult investments in the energy industry to get right. 

Image source: Getty Images.

Continue reading


Source: Motley Fool (November 6, 2019 - 4:38 PM EST)

News by QuoteMedia
www.quotemedia.com
Tags:

Legal Notice