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NEW YORK (TheStreet) -- Chesapeake Energy Corp. (CHK)  shares are 1.75% higher to $4.08 on Thursday as oil prices advanced on the weaker dollar and positive data from the Energy Information Administration (EIA) yesterday. 

Crude oil (WTI) is unchanged at $38.32 per barrel and Brent crude is rising 0.87% to $39.60 per barrel. 

The latest weekly oil inventory data showed that U.S. crude stockpiles increased by 2.3 million barrels last week to a total of 534.8 million barrels. This was less than analysts' forecasts of a 3.3 million-barrel build.

Even though Brent crude is heading for its strongest March since at least 2007, there are still oversupply concerns, Reuters reports. 

Based in Oklahoma City, Chesapeake Energy engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the U.S.

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Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of E+.

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospects 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 article's author.

You can view the full analysis from the report here: CHK

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