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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 -2.25% 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 +4.78% 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 -0.46% lost 3.4%, enough to pace the SPDR ETFs that tracked the 11 key S&P 500 /zigman2/quotes/210599714/realtime SPX +0.48% 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 +0.48% has edged up 0.7%.

/zigman2/quotes/201364537/composite
US : U.S.: NYSE
$ 13.01
-0.30 -2.25%
Volume: 925,723
May 29, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$130.21 million
Rev. per Employee
$4.37M
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/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 35.32
+1.61 +4.78%
Volume: 420,891
May 29, 2020 4:59p
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/zigman2/quotes/206420077/composite
US : U.S.: NYSE Arca
$ 38.76
-0.18 -0.46%
Volume: 35.75M
May 29, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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