NEW YORK (TheStreet) -- Shares of Chesapeake Energy (CHK) are climbing, up 1.33% to $17.47 in early market trading Monday, as its board of directors declared an 8.75 cent per share quarterly dividend, scheduled to be paid on January 31, 2015, to common shareholders.
This represents a 35 cent dividend on an annualized basis and a yield of 2%.
Last week, the stock slipped to a 52-week low of $16.63 after U.S. crude oil futures fell below $60 a barrel for the first time in five years on oversupply fears, CNBC reported.
Oklahoma City-based Chesapeake Energy is the second-largest producer of natural gas and the 11th largest producer of oil and natural gas liquids in the U.S.
Separately, TheStreet Ratings team rates CHESAPEAKE ENERGY CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHESAPEAKE ENERGY CORP (CHK) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, increase in net income, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."