|Bid||1.8600 x 306100|
|Ask||1.9300 x 45100|
|Day's Range||1.8400 - 1.9500|
|52 Week Range||1.7100 - 5.6000|
|Beta (3Y Monthly)||2.78|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 30, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.85|
Natural gas prices fell to their lowest level in more than three years after U.S. government data revealed a weekly injection in domestic stockpiles that was much more than expected.
In the latest trading session, Chesapeake Energy (CHK) closed at $1.95, marking a -1.52% move from the previous day.
The Insider Monkey team has completed processing the quarterly 13F filings for the March quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors experienced strong gains on the back of a strong market performance, which certainly propelled them to adjust their equity holdings so as […]
As of 7:14 AM ET on June 20, US crude oil August futures have risen 3.4% from the last closing level due to rising geopolitical tension in the Middle East. Iran shot down a US military drone in the international airspace.
Chesapeake Energy and Southwestern Energy were among the stocks that had the highest correlation with US crude oil prices. On June 12–19, US crude oil active futures rose 5.1%.
On June 20, the EIA is scheduled to release its natural gas inventory report for the week ending June 14. Any rise less than ~76 billion cubic feet could cause the inventories spread to expand more into the negative territory.
On June 18, natural gas July futures fell 2.4% and settled at $2.33 per million British thermal units. On the same day, Chesapeake Energy (CHK) and Gulfport Energy (GPOR) rose 3.8% and 1.8%, respectively.
It was anything but a high-conviction win, but stocks managed to hold onto a piece of Monday's gain. The S&P 500 ended the day up 0.09%, just barely able to hang on to its place above a pivotal support level.Source: Allan Ajifo via Wikimedia (Modified)Facebook (NASDAQ:FB) did a great deal of the heavy lifting, rallying more than 4% on the heels of news that it was planning to launch its own cryptocurrency. Chesapeake Energy (NYSE:CHK) wasn't far behind though, gaining more than 3% thanks to rebounding natural gas prices, which hit multi-month lows just a few days back. A multi-week selloff from CHK set the stage rather nicely though.Advanced Micro Devices (NASDAQ:AMD) led the losers, off almost 4% after Goldman Sachs posted some broadly bearish thoughts on software names. AMD was guilty by indirect association though, and is teetering on its worst losing streak in eight months.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The 10 Best Index Funds to Buy and Hold Headed into Tuesday's trading action though, it's the stock charts of McKesson (NYSE:MCK), Gilead Sciences (NASDAQ:GILD) and Dish Network (NASDAQ:DISH) that are worth the closest looks. Here's why, and what's likely to happen next. Dish Network (DISH)On Tuesday of last week we pointed out Dish Network was putting the finishing touches on a move above a significant technical ceiling. But, the nature of the effort was less than convincing. It was going to require a confirmation of sorts that DISH shares were ready to remain above that resistance.We moved toward that goal over the course of last week, but yesterday we effectively sealed the deal. The shape and placement of Monday's bar says the bulls mean business. Now that the heavy lifting is done the stock has a lot of room to continue recovering its 2017 and 2018 losses. Click to Enlarge * The ceiling in question is right around $36.90, plotted in yellow on both stock charts. That was a resistance level in late May, but as the weekly chart shows, it was a huge problem in mid-2018. * Monday's bar is ideal. A decent open only had to kiss the former technical ceiling to drive the stock to its highest close in over a year. * Bolstering the bullish argument is how much volume took shape behind yesterday's gain. But, this also wasn't the first time we've seen a volume surge behind major forward progress. The bulls are starting to form, en masse. * The weekly chart puts it all in perspective. There's not another major technical ceiling in sight until the $66.50 area, marked in blue. McKesson (MCK)A little over a week ago McKesson was featured as a budding breakout candidate. It has crossed back above all of its key moving average lines, and though a rather important technical ceiling remained above, the momentum was encouraging.That resistance line ended up being tested as expected, although MCK shares failed to clear it. They're still in the hunt for that breakout move though, and now they're even closer to starting it with an ideal bull signal. * 7 Top-Rated Biotech Stocks to Invest In Today Click to Enlarge * The resistance level to watch is the line that traces all the major peaks going back to October, including last week's. It's plotted in yellow on both stock charts. * It's evident on both charts, but the weekly chart puts the current converging wedge pattern in perspective. This is one of the best chances we've seen of reversing a multi-year selloff. * Although the last one didn't offer much help, the purple 50-day moving average line is about to cross above the white 200-day line. That will draw a crowd of bulls no matter what, but especially if McKesson can break above its falling resistance line. Gilead Sciences (GILD)Take it with a grain of salt, as we've seen it before, to no avail. But, Gilead Sciences shares are knocking on the door of a key break above a well-established resistance line. Although there's another major ceiling beyond that one that could disrupt the chart that's admittedly easy to disrupt, there's also a chance that the bears have inflicted enough damage and that the company itself has finally addressed the drug-cost issues that have proven so problematic for the stock's price. * Like McKesson, Gilead shares have been range-bound for several weeks after a two-year spell. It's one reasonably compelling way to end weakness and kick off some progress. * Just above the resistance currently at $67.15 is the 200-day moving average line at $68.14, plotted in white on both stock charts. That line is still a make-or-break level. The key will be making that move at a sustainable pace. * The weekly chart not only serves as a reminder that huge swings in both directions are possible, but that last year's peak around $79 could be where any breakout move finally comes to a close.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Red-Hot IPO Stocks to Buy for the Long Run * 5 Stocks to Buy for $20 or Less * 4 Dow Jones Stocks Ready to Rise Compare Brokers The post 3 Big Stock Charts for Tuesday: McKesson, Dish Network and Gilead Sciences appeared first on InvestorPlace.
Despite a slight recovery, natural gas prices remained close to the lowest levels in three years because of growing fears that soaring production is outpacing demand growth.
Last week, natural gas July futures rose 2.1% and settled at $2.387 per million British thermal units. Bullish inventory data and higher demand could be behind the recovery in natural gas prices.
Shares of oil and gas company Chesapeake Energy Corp. slumped 4.4% toward a six-month low in afternoon trading Friday, despite a bump in crude oil prices, as longer-term concerns over global oil demand helped set off a broad selloff in the energy sector. The SPDR Energy Select Sector ETF shed 0.8%, with 28 of 29 components losing ground, while the S&P 500 eased 0.3%. Among the ETF's more-active components, shares of Halliburton Co. lost 2.1%, Schlumberger Ltd. declined 3.0%, Exxon Mobil Corp. gave up 0.5%, Marathon Oil Corp. slid 2.3% and Occidental Petroleum Corp. fell 0.7%. Crude oil futures rose 0.8%, after settling up 2.2% on Thursday. Meanwhile, the International Energy Agency cut its 2019 oil demand forecast for a second-straight month, citing a slowing in the global economy.
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Shares of Chesapeake Energy Corp. shot up 3.1% in active afternoon trading Thursday, to bounce off a 6-month low hit earlier in the session, as a rally in crude oil prices helped provide a boost to the oil and gas exploration and production company. Trading volume was 39.7 million shares, enough to make the stock the most actively traded on the New York Stock Exchange. The stock had hit an intraday low of $1.75 in morning trading, matching Wednesday's intraday low which was the lowest price seen Dec. 24. Helping provide support, crude oil futures rallied 2.5% to bounce off a 5-month low as apparent attacks on two oil tankers in the Middle East fueled supply concerns. Chesapeake's stock has tumbled 40% over the past three months, while the crude futures have lost 10%, the SPDR Energy Select Sector ETF has declined 6.8% and the S&P 500 has gained 2.9%.
Wednesday's 0.2% setback for the S&P 500 still wasn't enough to push it past the point of no return. But, anything remains possible at this point … good or bad. More than anything, traders are losing interest.Source: Allan Ajifo via Wikimedia (Modified)Teva Pharmaceutical (NYSE:TEVA) was a proverbial problem child, off more than 4% after a judge rejected its initial settlement offer to end an opioid liability case against the company. Chesapeake Energy (NYSE:CHK) was the bigger overall drag, falling more than 7%, mostly driven by industry pricing weakness. General Electric (NYSE:GE) helped keep the weakness to a minimum, up 1.5% as investors increasingly buy into the turnaround story. * 7 High-Quality Cheap Stocks to Buy With $10 None are great picks headed into Thursday's trading though. Rather, it's the stock charts of Philip Morris International (NYSE:PM), Twitter (NYSE:TWTR) and H & R Block (NYSE:HRB) that merit the closer looks.InvestorPlace - Stock Market News, Stock Advice & Trading Tips H & R Block (HRB)Shares of H & R Block are, in simplest terms, at a crossroads.The fact that HRB was able to recover and rebound after being on the verge of a pretty significant selloff (as recently as March) confirmed there's a rather significant floor around $23.65, plotted in blue on both stock charts. However, this week's action also confirms there's a major ceiling that stands in the way of higher highs. Although the stock could still fall on either side of the fence, with two years' worth of consolidation ready to be unleashed, the possible breakout thrust is worth a closer look. Click to Enlarge * The ceiling in question is, of course, the $29.20 level marked in red on both stock charts. That's around where H & R Block stock peaked several times since late 2017. * Although none of the other attempts to hurdle $29.20 have been effective, this one differs in that the last couple days have made big gains on big volume. * Perhaps the most bullish argument here isn't what is, but what isn't. The weekly chart's RSI indicator hasn't crept into overbought territory yet, leaving room for more upside before the profit-takers push back. Philip Morris (PM)With nothing more than a passing glance at Philip Morris, it looks as if it has averted trouble. And, perhaps it has. The weakness seen late last month has been quelled, with a technical support level taking shape around $76.70.This may only be a short pause before the selloff resumes again, however. One more misstep could push PM shares over that cliff's edge. * 10 Smart Dividend Stocks for the Rest of the Year Click to Enlarge * The way the highs and lows over the course of the past week and a half have made a pretty well-defined box shape is telling in itself. It could be considered a bearish continuation pattern that lets the sellers regroup. * The floor at $76.70 is more meaningful than the past few days would suggest. That same level was a key floor a trio of times in 2018, making it a more important support area now. * Still, until that floor actually fails to keep Philip Morris stock propped up, there's still a chance at a rebound. Twitter (TWTR)Several times earlier this year Twitter was featured as a budding bullish candidate. Although choppy, the fact that the buyers were repeatedly making an attempt to reclaim ground lost in the middle of last year was encouraging. The breakout move finally took shape in April, though in the worst possible way. That is, a huge gap was left behind; traders generally don't like to leave gaps unfilled.Sure enough, that gap was filled in the meantime, with last month's weakness. The spot with which the bounceback has taken shape, however, suggests a whole new trading range has been established that will serve as a Launchpad for the move to the next higher level. Click to Enlarge * All it took was a kiss of the gray 100-day moving average line in early June (highlighted) to close the gap left with April's surge. * This week so far, the purple 50-day moving average line and the blue 20-day moving average line have acted as a technical floor, holding TWTR above a key technical ceiling near $37.20, plotted in red. * The next level to watch is $42.14, where the upper boundary of July's bearish gap is found. * It's more readily evident on the weekly chart, but with the recent move higher, the old trading range between $35.80 and $26.25 has been left in the rearview mirror.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post 3 Big Stock Charts for Thursday: H & R Block, Twitter and Philip Morris appeared first on InvestorPlace.
Oil prices can have a significant impact on the entire energy sector not just on oil-weighted stocks. Oil prices are often important for the energy sector’s general sentiment, which explains the different trend in correlations among natural-gas-weighted stocks with oil and natural gas prices.
Will Rise in Natural Gas Prices Continue?(Continued from Prior Part)Inventories spreadIn the week ending May 31, the inventories spread was -10.8%. During this period, the negative inventories spread contracted by ~1.3 percentage points compared to
Why Chesapeake Energy Has Been an Outperformer in JuneChesapeake Energy has seen a small decline in JuneMonth-to-date, as of June 11, Chesapeake Energy (CHK) stock is down just 1%. The SPDR S&P Oil & Gas Exploration & Production ETF
The South Texas Drilling Permit Roundup is a weekly review of new drilling permit applications filed with the Railroad Commission of Texas for a 67-county area of South Texas.
Chesapeake Energy Corp NYSE:CHKView full report here! Summary * Perception of the company's creditworthiness is negative and weakening * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is high and has been increasing * Economic output in this company's sector is contracting Bearish sentimentShort interest | NegativeShort interest is high for CHK with between 15 and 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting CHK. Sentiment has worsened and traders added to their bearish short positions on June 7. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding CHK totaled $155.90 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS MarkitThere is no PMI sector data available for this security. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator with a weakening bias over the past 1-month. CHK credit default swap spreads are rising towards their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.