Shares trade around $27 and are down 1.1% for the year to date but are up nearly 8% for the past 52 weeks because investors have locked in their profits. Chesapeake reports second-quarter earnings Wednesday.
The stock has been up by as much as 24%, reaching $31.49 on June 24. Even more impressive, since shares reached a low of $19.32 in June 2013 Chesapeake has rewarded investors with 63% gains. Despite these gains, the stock is cheap, trading at just 11 times 2015 estimates of $2.40. This is seven points below the industry average P/E of 18.48.
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