Filed under: Major movement, Earnings reports, Good news, Industry, Chesapeake Energy (CHK), Options, Technical Analysis, Oil
Chesapeake Energy (NYSE: CHK) shares are trading higher after CHK reported a first-quarter loss of $132 million, or 29 cents per share, last night. However, CHK shares are rising today, as the company’s adjusted profit came to $561 million, or $1.09 per share, beating analyst estimates of 93 cents per share. If you think that the stock won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on CHK.
After hitting a one-year low of $31.38 in August, the stock hit a one-year high of $55.00 last week. CHK opened this morning at $51.82. So far today the stock has hit a low of $50.70 and a high of $52.82. As of 12:35, CHK is trading at $52.67, up $1.73 (3.4%). The chart for CHK looks bullish and steady, while S&P gives the stock a bullish 4 Stars (out of 5) buy rating.
Continue reading Chesapeake Energy (CHK) soars on Q1 earnings
Permalink | Email this | Comments
Entries (RSS)