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NEW YORK ( TheStreet) -- Chesapeake Energy (NYSE: CHK) hit a new 52-week low Friday as it is currently trading at $19.95, below its previous 52-week low of $20.03 with 6.6 million shares traded as of 10:30 a.m. ET. Average volume has been 16.4 million shares over the past 30 days. Chesapeake Energy has a market cap of $14.22 billion and is part of the basic materials sector and energy industry. Shares are down 7.3% year to date as of the close of trading on Thursday. Chesapeake Energy Corporation engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. The company also offers marketing, midstream, drilling, and other oilfield services. The company has a P/E ratio of 8.7, below the average energy industry P/E ratio of 9.3 and below the S&P 500 P/E ratio of 17.7.