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Aug. 14, 2019, 2:05 p.m. EDT

Chesapeake Energy's stock falls to fresh 20-year low

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By Tomi Kilgore

Shares of Chesapeake Energy Corp. /zigman2/quotes/201364537/composite CHK 0.00% sank to a fresh 20-year low, pulled down by selloffs in crude oil prices and the broader stock market. The oil and gas company's stock fell 6.9%, putting it on track to close at the lowest level since April 12, 1999. Weighing on the stock, continuous crude oil futures /zigman2/quotes/209723049/delayed CL00 -1.27% dropped 4.4%, following data showing U.S. crude inventories increased for a second straight week. There was also concerns over demand for oil, as the drop in longer-term Treasury yields below yields on shorter-term Treasurys stoked recession fears. The selloff in Chesapeake's stock comes as the SPDR Energy Select Sector ETF /zigman2/quotes/206420077/composite XLE +0.41% lost 3.4%, enough to pace the SPDR ETFs that tracked the 11 key S&P 500 /zigman2/quotes/210599714/realtime SPX +1.00% sectors, with all 29 components trading lower. Chesapeake's stock has now shed 47% over the past three months, while the energy sector ETF has declined 11% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.00% has edged up 0.7%.

/zigman2/quotes/201364537/composite
US : U.S.: NYSE
$ 1.34
0.00 0.00%
Volume: 51.29M
Oct. 15, 2019 4:10p
P/E Ratio
2.58
Dividend Yield
N/A
Market Cap
$2.18 billion
Rev. per Employee
$4.37M
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/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 52.91
-0.68 -1.27%
Volume: 484,794
Oct. 15, 2019 4:59p
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/zigman2/quotes/206420077/composite
US : U.S.: NYSE Arca
$ 58.10
+0.24 +0.41%
Volume: 11.27M
Oct. 15, 2019 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,995.68
+29.53 +1.00%
Volume: 1.68B
Oct. 15, 2019 5:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,995.68
+29.53 +1.00%
Volume: 1.68B
Oct. 15, 2019 5:00p
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