NEW YORK (TheStreet) -- Shares of Chesapeake Energy Corp. (CHK) are down by 2.45% to $14.72 in mid-morning trading on Friday, as some energy and related stocks decline along with the price of oil, which is falling due to a strong dollar.
Crude oil (WTI) is lower by 1.32% to $59.09 per barrel and Brent crude is slipping by 1.27% to $65.85 per barrel this morning, according to the CNBC.com index.
"Crude oil prices continue to remain very sensitive to the U.S. dollar movements," Myrto Sokou, an analyst at Sucden Financial told the Wall Street Journal.
Commodities priced in dollars tend to become less attractive to those that hold other currencies when the greenback strengthens.
Separately, TheStreet Ratings team rates CHESAPEAKE ENERGY CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHESAPEAKE ENERGY CORP (CHK) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."