Chesapeake’s stock performance
In this article, we’ll turn to Chesapeake Energy’s (CHK) stock performance, our last company in the top five oil and gas producers in the first quarter of 2018.
As we can see above, CHK stock has underperformed not only crude oil prices and natural gas prices but also the energy sector benchmark ETF, the Energy Select Sector SPDR ETF (XLE), the only company to have done so in our top five line-up.
CHK fell ~18% year-over-year, while XLE rose 14.3% year-over-year, and the broader market ETF, the S&P 500 SPDR ETF (SPY), rose ~14% in the same period.
While rising crude oil prices have helped most energy stocks recently, the natural-gas-weighted (around 74% of its first-quarter production consisted of natural gas) company’s stock has likely stayed subdued due to the lack of a similar acceleration in natural gas.
Natural gas prices (UGAZ) fell 9.4% year-over-year, while crude oil prices have risen ~40% in the same period. For more insight on CHK’s stock performance, read Chesapeake Energy Stock on the Move: What’s Driving the Rally?