Hong Kong will have its own tech quartet as of next Thursday; Asian shares don't have the same euphoria as U.S. stocks (yet), and that's a good thing. Here is the bottom line: be very careful with CHK stock. The Wall Street Journal chronicled the background to Chesapeake’s latest predicament in an article on Jan. 1, 2019. This will also make operating without a restructuring solution very difficult. A 1 for 200 reverse split would push the stock price to $34 per share. In addition, low futures prices for 2021 will severely limit its options to survive. It's a process that involves harvesting gains by repeatedly writing call options against stocks steadily in decline. Natural gas related companies offer much better plays for alternatvie-fuel minded investors. Last Post: 10/31/2020 8:01:48 PM - Followers: 366 - Board type: Free - Posts Today: 5 This board's subject is fundamental and technical discussion about Chesapeake Energy Corporation, CHK. The problem, though, was that drilling in the heterogeneous rocks that are frequently laced with faults made drilling more expensive. This is not a huge turnaround play. In effect, shareholders will have to make room for debt holders in the common stock capitalization table. Chesapeake Energy (CHK) stock surged today on buyout speculation. Jun 29, 2020 08:16 AM Form 8-K CHESAPEAKE ENERGY CORP For: Jun 28 View All Articles Jun 29, 2020 06:10 AM Chesapeake Energy (CHK) Commences Voluntary Chapter 11 Process ETF data provided by Lipper. Chesapeake had over $9.4 billion of debt on its balance sheet as a result of these developments. Today it is just seventeen cents. For example, with a 1 for 50 reverse split, every existing 50 shares will receive one new share of CHK stock. The evidence is pretty clear. 7 Restaurant Stocks to Buy for a Big Rebound. 430.00. If a trillion dollar package were to happen, here are the companies -- and communities -- who would benefit most. On March 16, CHK management hired two well-known restructuring firms, Kirkland and Ellis as well as Rothschild, according to Reuters. Although this will be challenging in the short term, it may be an opportunity for large American companies to acquire assets. These stocks are not for the faint of heart and the risk-averse. The enterprise is headquartered in Oklahoma City, Oklahoma. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. CHK shareholders will vote April 13 to approve a reverse stock split ranging from 1-50 to 1-200. Typically reverse splits are done for companies like CHK which are being threatened with delisting. The issue is not CHK's debt, but whether it can service the debt, and the company's robust hedge book and the recent uptrend in natural gas pricing CHK show that it should be. More importantly ... Hertz and Chesapeake remind me of the time I bought a bunch of common stock of Memorex-Telex -- and you can guess how that played out. However, the stock has rallied about 48% during five straight trading sessions, as the company plans to pay down $500 million of debt maturing next month, Bloomberg reported. Is a Beat in Store for Chesapeake Energy (CHK) in Q4 Earnings? The Grave Dancer is buying oil production assets, so we may finally have reached a bottom in the valuation of energy companies. Market Data & Company fundamental data provided by FactSet. Like us on Facebook to see similar stories, Oregon becomes first state to decriminalize small amounts of drugs, including heroin, Chipotle struggles with staffing as coronavirus cases rise. Chesapeake Energy Is Headed Towards Bankruptcy. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Except as otherwise indicated, quotes are delayed. Bloomberg also recently chronicled Chesapeake Energy’s attempt at the end of February to raise even more debt to work out of its situation. FactSet calculates the Market Cap for the basic symbol to include common shares only. 225 Liberty Street, 27th Floor, New York, NY 10281. Chesapeake Energy Corporation. Little did they know that oil prices, then down 40% from their peak, would continue to crater. NYSE Updated Jun 30, 2020 7:59 PM Great traders are the folks in the shadows nailing small and medium-sized winners on a consistent basis. As of this writing, Mark Hake, CFA does not hold a position in any of the aforementioned securities. The market misread the narrative that there was a cyclical recovery. © 2020 TheStreet, Inc. All rights reserved. Chesapeake Energy (NYSE:CHK) is likely headed towards bankruptcy. Log In Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. These 3 stocks continue benefit from the misplaced pessimism of energy sector shorts. That equity spike had to come back to earth. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. If the restructuring team manages to avoid bankruptcy, which seems highly unlikely, the next most likely thing to occur is the following: a massive dilution of shareholders. Shares of the natural gas producer tanked earlier this month on bankruptcy concerns, even though Chesapeake Energy released a statement assuring investors that it has no plans to pursue bankruptcy. It costs Chesapeake Energy roughly $8 million to drill and hydraulically fracture each of its wells in Wyoming, compared with about $6 million in the Eagle Ford shale of South Texas. Follow Real Money's Wall Street Pros to receive real-time investing alerts. NEW YORK (TheStreet) -- Chesapeake Energy (CHK) - Get Report stock soared by 19.50% to $2.39 in Monday's trading session after financial blog Seeking Alpha argued that the company is a "prime takeout candidate.". This is a turnaround play that is highly likely to not turn around. A recent Seeking Alpha article by WYCO Researcher skillfully analyzes Chesapeake’s current debt situation. Fibocall: Selling zones to Know I would SCALE ... Tuesday Morning Fibocall for 11/3/2020: Please ... SPX (Long-Term View) Our first long-term support... Jim Cramer: Why You Shouldn't Expect the Market to Get Clobbered Again Monday, Comstock Resources (CRK) Q4 Earnings Top on Ramped-Up Output, Chesapeake downgraded to Sell from Neutral at MKM Partners, Chesapeake price target lowered to $0 from $1 at MKM Partners, Chesapeake (CHK) Q4 Earnings Beat Estimates, Revenues Miss, Chesapeake Tumbles Toward Oblivion With Investors Losing Faith.

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