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June 5, 2020, 2:45 p.m. EDT

Chesapeake Energy's stock rockets as oil prices surge, and have more than doubled in 3 weeks

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By Tomi Kilgore

Shares of Chesapeake Energy Corp. /zigman2/quotes/201364537/composite CHK +3.18% rocketed 50.3% in active afternoon trading Friday, boosted by a surge in crude oil prices ahead of a weekend meeting of major oil producers. Volume swelled to 5.5 million shares, compared with the full-day average of about 2.5 million shares. The oil and gas company's stock, has now more than doubled (up 142.4%) since it closed at a split-adjusted record low of $8.71 on May 14. The debt-laden company had enacted a 1-for-200 reverse stock split on April 15. Crude oil futures /zigman2/quotes/209723049/delayed CL00 +2.27% rallied 5.8% Friday, and have shot up 41.9% since May 14. But year to date, Chesapeake's stock was still down 87.2%, while crude oil futures have lost 35.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.05% has slipped 1.0%.

/zigman2/quotes/201364537/composite
US : US Composite
$ 7.46
+0.23 +3.18%
Volume: 377,534
July 10, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$70.73 million
Rev. per Employee
$4.37M
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/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 40.52
+0.90 +2.27%
Volume: 363,004
July 10, 2020 4:05p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,185.04
+32.99 +1.05%
Volume: 2.40B
July 10, 2020 4:15p
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