Did Your Broker Recommend Chesapeake Energy (CHK)?

Did your broker recommend Chesapeake Energy Corporation (CHK)?
If so, contact Soreide Law Group and speak to a lawyer regarding the possibility of recovering your losses from this energy stock at: 888-760-6552. Many investors have experienced devastating losses.

Chesapeake Energy Corporation (CHK) 52 week range: 1.50 - 20.65

Chesapeake Energy (CHK) stock was on an uptrend in 2015. But since May 2015, the stock has been on a downtrend. In December 2015, because natural gas prices sank to a 16-year low of $1.76 per MMBtu (million British thermal units), this caused this gas-weighted company’s stock to fall even lower. CHK stock has fallen by a staggering ~91%.
In addition to its debt, filings show Chesapeake has commitments to pay about $2 billion a year for space on pipelines run by several companies, including Williams Companies Inc, whose shares fell 35 percent partially due to its exposure to Chesapeake Energy.
According to a recent article in Reuters, they reported with oil and gas prices down 70 percent since 2014 and many new wells becoming money losers, the analysts say companies like Chesapeake Energy are in "zombie mode" which means they are slowly burning through cash and unable to invest in growth in a meaningful way.
Chesapeake Energy suspended its dividend to preserve cash, cut about 15 percent of its workforce and have written down the value of some oil and gas assets. Reuters reports that Standard & Poor's downgraded Chesapeake to CCC+ last month. In the third quarter of 2015, CHK reported a loss of $4.69 billion, compared with a profit of $169 million the same quarter in 2014.
Approximately 40 energy companies entered bankruptcy in 2015, with more expected in the next few months.