Chesapeake Granite Wash Trust (OTCMKTS:CHKR) Trading 0.3% Higher – Here’s Why

Chesapeake Granite Wash Trust (OTCMKTS:CHKR)’s stock price shot up 0.3% on Thursday . The stock traded as high as $0.34 and last traded at $0.34. 35,580 shares traded hands during trading, an increase of 0% from the average daily volume of 35,469 shares. The stock had previously closed at $0.3391.

Chesapeake Granite Wash Trust Trading Up 0.3%

The company has a market cap of $15.90 million, a P/E ratio of 4.25 and a beta of 0.14. The business has a 50 day moving average price of $0.37 and a 200-day moving average price of $0.40.

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

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.