Chesapeake Energy (CHK) Stock Slides as Oil Prices Slump
NEW YORK (TheStreet) -- Shares of Chesapeake Energy (CHK) - Get Report are down 1.41% to $4.53 at midday as oil prices decline.
Crude oil (WTI) is down 0.66% to $44.94 per barrel and Brent crude is down 0.21% to $46.86 per barrel.
Forecasts estimate that U.S. crude stockpiles are heading for a ninth-straight weekly drop, Reuters reports. Oil prices are under pressure by a stronger dollar today and increasing concern over a global fuel glut.
Analysts at Citi, however, argue that oil prices won't suffer a 2015-style second half price collapse, CNBC reports.
Chesapeake Energy is an Oklahoma City-based natural gas, oil and natural gas liquids producer.
Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of E+.
The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: CHK
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.