Chesapeake Granite Wash Trust (OTCMKTS:CHKR) Stock Price Down 8.3% – Here’s Why

Chesapeake Granite Wash Trust (OTCMKTS:CHKR) dropped 8.3% on Wednesday . The company traded as low as $0.45 and last traded at $0.45. Approximately 5,441 shares changed hands during trading, a decline of 89% from the average daily volume of 47,983 shares. The stock had previously closed at $0.49.

Chesapeake Granite Wash Trust Stock Down 8.3%

The business’s 50 day simple moving average is $0.45 and its two-hundred day simple moving average is $0.44. The stock has a market cap of $21.05 million, a P/E ratio of 5.00 and a beta of 0.02.

Chesapeake Granite Wash Trust (OTCMKTS:CHKR) last posted its earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share for the quarter. Chesapeake Granite Wash Trust had a net margin of 64.76% and a return on equity of 40.74%.

Chesapeake Granite Wash Trust Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, August 29th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.0189 per share. This represents a dividend yield of 1,689.0%. The ex-dividend date of this dividend was Tuesday, August 19th. Chesapeake Granite Wash Trust’s payout ratio is presently 88.89%.

About Chesapeake Granite Wash Trust

Chesapeake Granite Wash Trust owns royalty interests in oil, natural gas liquids, and natural gas properties located in the Colony Granite Wash play in Washita County in the Anadarko Basin of Western Oklahoma. It has royalty interests in 69 producing wells and 118 development wells, and in approximately 26,400 net acres of area.