Chesapeake Granite Wash Trust (OTCMKTS:CHKR – Get Free Report) traded down 2.3% during trading on Wednesday . The stock traded as low as $0.4152 and last traded at $0.4152. Approximately 11,830 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 19,679 shares. The stock had previously closed at $0.4250.
Chesapeake Granite Wash Trust Price Performance
The firm has a market capitalization of $19.41 million, a PE ratio of 4.61 and a beta of 0.22. The company’s fifty day simple moving average is $0.42 and its 200-day simple moving average is $0.44.
Chesapeake Granite Wash Trust Company Profile
Chesapeake Granite Wash Trust is a royalty trust established to distribute proceeds from an overriding net profits interest in certain oil and natural gas properties. The trust holds interests in horizontal wells targeting the Granite Wash formation, a prolific reservoir spanning parts of the western Anadarko Basin in northwest Texas and western Oklahoma. Revenues generated by these assets are passed directly through to trust unitholders on a quarterly basis.
The underlying properties consist primarily of horizontal drilling projects operated by Chesapeake Energy and its affiliates.
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