Chesapeake Energy (CHK) could be filing for bankruptcy
- The company plunged into the close today following a Reuters report that the company may be preparing to file for bankruptcy.
- The company has held discussions with creditors about a debtor-in-possession loan, possibly totaling $1 billion.
- Chesapeake reportedly is considering skipping a $192M payment due in August, adding urgency to the discussions with creditors.
What’s up with Chesapeake Energy Corporation?
Chesapeake Energy Corporation (CHK) opened at $31.88, which means the stock is down 30% from yesterday’s closing price of 29.18. Today, the company has a high of $32.22 and a low of $25.00. The stock holds a market cap of $262.49 million which is not impressive since the P/E ratio is -0.54. The company has a 52-week high of $598.00 and a 52-week low of $12.30.
What is P/E ratio?
The price-earnings ratio, also known as P/E ratio, P/E, or PER, is the ratio of a company’s share price to the company’s earnings per share. The ratio is used for valuing companies and to find out whether they are overvalued or undervalued. Chesapeake Energy Corporation has a weak.A negative PE ratio means that a stock has negative earnings. In other words, the company was losing money in the past 12 months.
About Chesapeake Energy Corporation
Chesapeake Energy Corp. is an independent exploration and production company, which engages in acquisition, exploration and development of properties for the production of oil, natural gas and natural gas liquids from underground reservoirs.