Chesapeake Granite Wash Trust (OTCMKTS:CHKR) Trading Down 4% – Here’s What Happened

Shares of Chesapeake Granite Wash Trust (OTCMKTS:CHKR) dropped 4% during trading on Thursday . The stock traded as low as $0.3232 and last traded at $0.3310. 21,820 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 37,436 shares. The stock had previously closed at $0.3449.

Chesapeake Granite Wash Trust Trading Up 3.2%

The business’s fifty day moving average price is $0.35 and its two-hundred day moving average price is $0.39. The firm has a market cap of $15.97 million, a P/E ratio of 4.27 and a beta of 0.14.

Chesapeake Granite Wash Trust (OTCMKTS:CHKR) last posted its earnings results on Tuesday, May 12th. The company reported $0.01 EPS for the quarter. The firm had revenue of $1.10 million for the quarter. Chesapeake Granite Wash Trust had a net margin of 69.70% and a return on equity of 37.23%.

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.