Chesapeake Granite Wash Trust (OTCMKTS:CHKR) Posts Earnings Results

Chesapeake Granite Wash Trust (OTCMKTS:CHKR) announced its earnings results on Friday. The company reported $0.02 earnings per share (EPS) for the quarter, Zacks reports. Chesapeake Granite Wash Trust had a net margin of 65.92% and a return on equity of 39.91%. The firm had revenue of $1.07 million for the quarter.

Chesapeake Granite Wash Trust Price Performance

Shares of OTCMKTS CHKR opened at $0.42 on Friday. Chesapeake Granite Wash Trust has a 1-year low of $0.38 and a 1-year high of $0.51. The business’s 50 day moving average is $0.42 and its two-hundred day moving average is $0.44. The stock has a market capitalization of $19.40 million, a P/E ratio of 4.61 and a beta of 0.22.

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.