Chesapeake Energy Corporation (NYSE:CHK) shares are trading lower by $0.40 (7.2 percent) at $5.14 in Thursday's session.
Despite a Q1 EPS beat $0.04 along with a $443 million beat for sales, the stock is deep in the red.
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After a slightly lower open, Chesapeake's stock couldn't reclaim Wednesday's closing price ($5.54), only reaching $5.40 before continuing its move lower. So far, the ensuing decline has taken the stock to $5.07 and isn't far off that level. That low matches its March 27 low ($5.06).
Chesapeake made a series of six consecutive lows between $4.95 and $5.11 from March 20 to March 27.
Lower Crude Oil prices by over $1.00 may be exerting additional selling pressure on the petroleum and natural gas producer.
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