Warmer-than-normal U.S. temperatures are taking down the natural gas stocks prices. The average high for this time of year is in the low 40s, yet the next few days will feature highs in the upper 50s and 60s.
Chesapeake Energy Corporation is getting cold. Today, Goldman Sachs downgrade CHK to Neutral from Buy based on less credit for unbooked resource profit and drilling rig ownership. Also noted that company closed out some hedges in mid-December and has greater risk exposure. Price target cut to $35 from $40.
Take a look at the 10-intraday price:
Chesapeake Energy Corporation is getting cold. Today, Goldman Sachs downgrade CHK to Neutral from Buy based on less credit for unbooked resource profit and drilling rig ownership. Also noted that company closed out some hedges in mid-December and has greater risk exposure. Price target cut to $35 from $40.
Take a look at the 10-intraday price:
Source: msn Money
Now, look at the 2 year CHK chart:
Source: msn Money
The stock price is going to its 2 years resistance (27 dollars).
Should Chesapeake have enough gas to get up again?
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