Chesapeake Energy Jumps Midday; Energy Stocks Higher
Investing.com - Chesapeake Energy (NYSE:CHK) jumped in midday trading, with investors buoyed by insider stock buying.
Chesapeake Energy rose 13%.
Director Archie Dunning purchased 2.1 million shares. The purchase was made on Dec. 21 and disclosed today.
Overall, energy stocks were higher, with crude futures bouncing back following a big selloff on Monday.
Crude oil WTI futures rose 5.7% and the S&P 500 Energy gained 0.75%.
Among top gainers in the index were Marathon Oil (NYSE:MRO), up 4%, and Phillips 66 (NYSE:PSX), which gained 2.6%.
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