Chesapeake Granite Wash Trust (OTCMKTS:CHKR) Stock Price Down 4% – What’s Next?

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

Chesapeake Granite Wash Trust Price Performance

The stock has a market capitalization of $15.47 million, a P/E ratio of 4.14 and a beta of 0.14. The firm has a 50-day simple moving average of $0.35 and a 200 day simple moving average of $0.39.

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

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.