Chesapeake Granite Wash Trust (OTCMKTS:CHKR) Stock Price Down 0.1% – Here’s Why

Chesapeake Granite Wash Trust (OTCMKTS:CHKR)’s share price dropped 0.1% on Monday . The stock traded as low as $0.3939 and last traded at $0.3956. Approximately 8,656 shares changed hands during trading, a decline of 79% from the average daily volume of 41,386 shares. The stock had previously closed at $0.3961.

Chesapeake Granite Wash Trust Stock Performance

The company’s 50-day moving average price is $0.42 and its two-hundred day moving average price is $0.43. The stock has a market cap of $18.49 million, a PE ratio of 4.95 and a beta of 0.19.

Chesapeake Granite Wash Trust (OTCMKTS:CHKR) last posted its quarterly earnings data on Friday, March 27th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $1.07 million for the quarter. Chesapeake Granite Wash Trust had a net margin of 64.15% and a return on equity of 35.92%.

About Chesapeake Granite Wash Trust

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.