WTI crude oil for February delivery was falling 1.1% to $56.51 a barrel Monday morning, and Brent crude oil for February delivery was falling 0.6% to $60.99 a barrel.
Oil prices fell to five-year lows after OPEC announced it would not lower its 2015 production rate in November while U.S. shale oil production increased.
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Curde oil prices will likely bottom out sometime in the first half of 2015, according to a Reuters monthly survey. Reuters expects oil prices to rebound in the second half of the year with a possible slowdown in U.S. shale production.
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 few notable 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."