Chesapeake Energy stock fell as much as 50% Monday morning following a report that the troubled natural gas producer had hired a restructuring firm.
Although Chesapeake Energy denied any plans to file for bankruptcy, CHK stock remained down about 30%. The Chesapeake Energy stock price is down more than 90% over the past 18 months.
Chesapeake Energy stock fell as much as 50% Monday morning following a report that the troubled natural gas producer had hired a restructuring firm.
Although Chesapeake Energy denied any plans to file for bankruptcy, CHK stock remained down about 30%. The Chesapeake Energy stock price is down more than 90% over the past 18 months.
The Chesapeake Energy stock price climbed 3% to $7 today after the energy producer announced it will slash its workforce by 15% amid falling natural gas and crude oil prices.
However, shares remain down more than 65% year to date.
Here's why the Chesapeake Energy stock price could fall even further from here...
Lately Chesapeake Energy Corp. (NYSE: CHK) stock has been getting some unwanted attention from short sellers. A lot of traders see CHK stock weakness, and they want to profit from an anticipated fall in the CHK stock price.
There may yet be a compelling case to buy CHK stock. Natural gas prices have regained slightly, meaning the March lows could signal a bottom. Perhaps its oversold? Maybe it's in for a nice pop on a short squeeze?
Here's what you'll want to consider before buying this natural gas giant...
Chesapeake Energy Corp.'s (NYSE: CHK) stock has fallen 39.5% in the last year amid quarter-over-quarter earnings losses.
For billionaire investor Carl Icahn, it's the perfect opportunity to increase his stake at a discount.
Here's how you can benefit from Icahn's strategy, regardless of how CHK stock performs...
Chesapeake Energy Corp. (NYSE: CHK) stock closed up nearly 0.5%, despite the fact that the company reported a net income loss of 67% compared to the previous year.
CHK reported Q2 net income of $0.22 per share, which was down from $0.66 per share in the same quarter last year. Excluding one-time items, earnings per share (EPS) was $0.36. That was down from the $0.44 per share analysts polled by Bloomberg had anticipated.
Chesapeake Energy Corp. (NYSE: CHK) has taken the first steps to spin off its oilfield services unit.
The second largest U.S. natural gas producer, behind only behemoth Exxon Mobil Corp. (NYSE: XOM), reported Monday it has filed paperwork with the U.S. Securities and Exchange Commission for the possible separation. The company also confirmed Morgan Stanley (NYSE: MS) has been retained to evaluate strategic options for the business, Chesapeake Oilfield Operating LLC (COS).
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