Chesapeake Granite Wash Trust (OTCMKTS:CHKR) Shares Down 4% – What’s Next?

Chesapeake Granite Wash Trust (OTCMKTS:CHKR)’s share price was down 4% during trading on Thursday . The company traded as low as $0.3232 and last traded at $0.3310. Approximately 21,820 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 37,436 shares. The stock had previously closed at $0.3449.

Chesapeake Granite Wash Trust Price Performance

The firm has a market capitalization of $15.47 million, a P/E ratio of 4.14 and a beta of 0.14. The company has a fifty day moving average of $0.35 and a 200 day moving average of $0.39.

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

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.