Chesapeake Granite Wash Trust (OTCMKTS:CHKR) Shares Down 4.1% – Here’s Why

Chesapeake Granite Wash Trust (OTCMKTS:CHKR)’s stock price was down 4.1% during trading on Tuesday . The company traded as low as $0.42 and last traded at $0.4220. Approximately 33,570 shares were traded during trading, an increase of 9% from the average daily volume of 30,695 shares. The stock had previously closed at $0.44.

Chesapeake Granite Wash Trust Stock Up 1.9%

The business has a 50 day moving average price of $0.44 and a two-hundred day moving average price of $0.44. The stock has a market cap of $20.10 million, a P/E ratio of 4.78 and a beta of 0.10.

Chesapeake Granite Wash Trust (OTCMKTS:CHKR) last issued its earnings results on Monday, November 10th. The company reported $0.02 earnings per share (EPS) for the quarter. Chesapeake Granite Wash Trust had a return on equity of 39.91% and a net margin of 65.92%.The company had revenue of $1.43 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.