Chesapeake's stock plunges after Reuters report of bankruptcy preparations [MarketWatch]
Chesapeake Energy Corporation (CHK)
Last chesapeake energy corporation earnings: 2/26 07:00 am
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Source: MarketWatch
Shares of Chesapeake Energy Corp. plunged 37% in premarket trading Thursday, after Reuters reported late Wednesday that the oil and gas production company was preparing for a potential bankruptcy. The stock had plunged 33% over the past three days, after rocketing 178% the four days before that off a record low close of $14.38, which was adjusted for a 1-for-200 reverse split. Reuters reported, citing people familiar with the matter, that Chesapeake has held discussions with creditors about a possible loan of roughly $1 billion that would help keep operations running while navigates bankruptcy. The company did not immediately respond to a request for comment. Chesapeake has been struggling with its debt burden and historic selloff in energy prices, amid a COVID-19 pandemic-related drop in demand and a supply glut. Chesapeake's stock has plummeted 75% over the past three months through Wednesday, while crude oil futures have dropped 67% and the S&P 500 has lost 10.5%.
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CHK
News
- Chesapeake Energy Co. (NASDAQ: CHK) had its price target raised by analysts at Wells Fargo & Company from $77.00 to $83.00. They now have an "equal weight" rating on the stock.MarketBeat
- Chesapeake Energy and Southwestern Energy Complete Merger and Provide Third Quarter Earnings Conference Call Information, Company Rebranded as Expand EnergyGlobeNewswire
- Chesapeake Energy Co. (NASDAQ: CHK) had its price target lowered by analysts at Truist Financial Co. from $108.00 to $96.00. They now have a "buy" rating on the stock.MarketBeat
- Deals this week: Chesapeake, Visa, KKR, Mondelez and more [Seeking Alpha]Seeking Alpha
- Chesapeake Energy Co. (NASDAQ: CHK) was upgraded by analysts at Roth Capital to a "strong-buy" rating.MarketBeat
CHK
Earnings
- 7/29/24 - Miss
CHK
Sec Filings
- 11/22/24 - Form 144
- 11/22/24 - Form 8-K
- 11/22/24 - Form 424B2
- CHK's page on the SEC website