Chesapeake Granite Wash Trust (OTCMKTS:CHKR) Trading 0.7% Higher – Here’s Why

Chesapeake Granite Wash Trust (OTCMKTS:CHKR) shares traded up 0.7% on Tuesday . The company traded as high as $0.3697 and last traded at $0.3674. 33,390 shares were traded during trading, a decline of 1% from the average session volume of 33,635 shares. The stock had previously closed at $0.3649.

Chesapeake Granite Wash Trust Stock Up 0.7%

The stock has a market capitalization of $17.18 million, a price-to-earnings ratio of 4.59 and a beta of 0.21. The business’s 50-day moving average is $0.39 and its two-hundred day moving average is $0.42.

Chesapeake Granite Wash Trust (OTCMKTS:CHKR) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $1.10 million for the quarter. Chesapeake Granite Wash Trust had a net margin of 69.70% and a return on equity of 37.22%.

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.