Chesapeake Energy Corporation (NYSE:CHK), after opening its shares at the price of $5.36, jumped up 0.19% to close at $5.32 for the day. The stock moved on a traded volume of 29,089,781 shares, in comparison to 39,070,367 shares of average trading volume.
On Wednesday U.S Stocks Update: U.S. stock-index futures on Wednesday pointed to a drop at the open, weighed down by an earnings-driven drop for Apple Inc., the world’s largest company by market value.
S&P 500 futures ESM7, -0.13% fell 4.30 points, or 0.2%, to 2,381.50, with Apple AAPL, -0.96% down 1.4% and among the benchmark’s biggest premarket losers.
Dow Jones Industrial Average futures YMM7, -0.07% shed 20 points, or 0.1%, to 20,845, while Nasdaq-100 futures NQM7, -0.25% gave up 17.25 points, or 0.3%, to 5,622.50.
On Wednesday Oil Prices Update: Oil prices rebounded from near 2017 lows on Wednesday after preliminary data showed a much larger-than-expected fall in U.S. crude stocks, reviving bullish sentiment about easing oversupply.
Benchmark Brent crude LCOc1 was up 35 cents at $50.81 a barrel at 1010 GMT. On Tuesday the futures had settled at their lowest since Nov. 30, when the Organization of the Petroleum Exporting Countries decided to cut oil supply.
U.S. West Texas Intermediate (WTI) crude CLc1 traded at $47.94 a barrel, up 28 cents. WTI had slid 2.4 percent on Tuesday on concerns about falling OPEC compliance with its production-curbing deal.
“(U.S.) production growth has slowed during the past couple of weeks. If continued today it may also add some glimmer of hope for the bulls, who increasingly have been losing patience,” said Ole Hansen, head of commodities strategy at Saxo Bank.
The 52-week range for the stock is $3.56 and $8.20 and during the previous trading session the stock touched its highest price at $5.44. Its introductory price for the day was $5.36. The stock’s current distance from 20-Day Simple Moving Average (SMA20) is -7.82% where (SMA50) and (SMA200) are -4.51% and -13.74% respectively.