Bulletin
Investor Alert

New York Markets Open in:

Market Pulse Archives

Feb. 13, 2020, 2:07 p.m. EST

Chesapeake Energy's stock falls below 50 cents for the first time in 26 years

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Chesapeake Energy Corp. (CHK)
  • X
    Energy Select Sector SPDR ETF (XLE)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Chesapeake Energy Corp. /zigman2/quotes/201364537/composite CHK 0.00% fell Thursday below the 50-cent mark for the first time in 26 years, after the International Energy Agency's downbeat assessment oil demand. The IEA cut its view on oil demand growth in 2020 to by 365,000 barrels a day to 825,000 barrels a day, the lowest level since 2011, as the coronavirus outbreak in China is expected to damp demand. That comes a day after the Organization of Petroleum Exporting Countries (OPEC) cut its 2020 growth outlook by 230,000 barrels a day to 990,000 barrels a day. The oil and natural gas company's stock fell 1.2% in afternoon trading to 49.83 cents. The last time the stock traded below four bits on an intraday basis was Jan. 21, 1994 and the last close below that mark was Jan. 19, 1994. Meanwhile, continuous crude oil futures rose 0.1%, and was headed for a third-straight gain after closing at a 13-month low on Monday. Natural gas futures fell 0.3%, after bouncing the past two days off Monday's 4-year low. Chesapeake's stock has plunged 80% over the past 12 months, while the SPDR Energy Select Sector ETF /zigman2/quotes/206420077/composite XLE -1.12% has shed 16% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.12% has gained 23%.

/zigman2/quotes/201364537/composite
US : US Composite
$ 5.00
0.00 0.00%
Volume: 89,759
Sept. 18, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$48.90 million
Rev. per Employee
$4.37M
loading...
/zigman2/quotes/206420077/composite
US : U.S.: NYSE Arca
$ 33.61
-0.38 -1.12%
Volume: 26.41M
Sept. 18, 2020 4:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,319.47
-37.54 -1.12%
Volume: 4.09B
Sept. 18, 2020 5:15p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.