Crude oil (WTI) is down 1.43% to $41.27 per barrel and Brent crude is down 1.38% to $42.87 per barrel.
Oil prices are falling to three-month lows today on rising concern over a global fuel glut. Genscape reported a 328,000-barrel build at the Cushing, OK delivery hub for U.S. crude futures, CNBC reports.
Goldman Sachs said it expects oil to be in the $40 to $45 range through mid-2017.
Baker Hughes (BHI) said earlier today today that it does not expect a substantial recovery in drilling and pricing in North America this year, Reuters reports. "I don't subscribe to the hopeful commentary," said Baker Hughes CEO Martin Craighead.
Chesapeake Energy is an Oklahoma City-based energy company.
Separately, 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.
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