Hot Movements – Chesapeake Energy Corporation (NYSE:CHK), Bank of America Corp (NYSE:BAC)

Chesapeake Energy Corporation (NYSE:CHK), after opening its shares at the price of $6.28, dropped -1.27% to close at $6.20 for the day. The stock moved on a traded volume of 32.89M shares, in comparison to 42.19M shares of average trading volume.

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 $6.32. Its introductory price for the day was $6.28. The stock’s current distance from 20-Day Simple Moving Average (SMA20) is 12.47% where (SMA50) and (SMA200) are 6.65% and 2.26% respectively.

The price of oil is on a bit of a hot streak. West Texas Intermediate contracts for May delivery were up about 3 percent this week and are up nearly 9 percent in the past two weeks. Also, the price has decreased only two times in the past 10 trading days.

On Friday, WTI settled at $52.24 a barrel, up 54 cents (1.04 percent) on the day and $1.64 percent (3.24 percent) for the week. The price stayed in the $50s each day this week. Friday’s close marked the week high, and Monday’s $50.24 was the week low.

Chesapeake Energy Corporation (NYSE:CHK)

WTI is still down for the year, however, though only slightly. The price is 9 cents (0.17 percent) lower than the year opening settlement of $52.33. The year high is $54.45, and the low is $47.34. The average price is $51.74. WTI has only been in the $40s 15 times this year.

On Friday, WTI posted rose 50 cents (1.04 percent) to $48.75 a barrel. Sour was also up 50 cents. It jumped 1.14 percent to $44.50. For the week, sour was up $1.55 (3.61 percent), while WTI was higher by $1.75 (3.72 percent). According to Midland Reporter-Telegram

Bank of America Corp (NYSE:BAC)

Bank of America Corp (NYSE:BAC) reported the decline of -0.47% and closed at $23.16 with the total traded volume of 79.52M shares. The stock’s opening price was $23.03. The company has a total market capitalization of $230.88B.

The 52-week price range of the stock remained $12.05 – $25.80, while during last trade its minimum price was $22.93 and it gained its highest price of $23.34. Company’s last 5 days shows an uptrend/down turn with a decline of -1.78%. The company shows its Return on Assets (ROA) value of 0.70%. The Return on Equity (ROE) value stands at 6.70%. While it’s Return on Investment (ROI) value is 4.60%.

A senior central banker in Oman has called on the country’s banks to be extra-vigilant about their exposure to sensitive sectors such as real estate as the Gulf state copes with the impact of lower oil prices.

Qais Al Yahyaei, head of the financial stability department of the Central Bank of Oman (CBO), made his comments at a meeting this week that assessed the vulnerabilities of the country’s financial system, according to a statement posted on the bank’s website late on Tuesday.

A Bank of America Merrill Lynch report said earlier this month that Oman’s twin deficits imply a need for material external financing to prevent sustained erosion in foreign assets and to defend the rial peg to the US dollar.

Al Yahyaei was quoted as saying that the current prevailing macroeconomic uncertainty “warrants extra vigilance and cautionary measures from banks in their exposures towards sensitive sectors such as real estate and personal loans.” According to Times of Oman

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