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Should I Buy Chesapeake Energy Stock

TimkenSteel's stock plunged 26% after the steel manufacturer got a negative report from a major Wall Street analyst. J.P. Morgan cut its rating on TimkenSteel from neutral to underweight and slashed its price target on the steelmaker's stock from $9 to $5. The analyst believes that TimkenSteel will have to deal with weaker overall demand, with the energy industry weighing particularly hard on the company. Poor pricing levels are also plaguing steelmakers. With the entire steel industry having hoped for a resolution to trade tensions, a lack of positive news from China or the U.S. also didn't help matters.

should i buy chesapeake energy stock

Finally, shares of Chesapeake Energy fell another 10%. The drop was the latest in a series of declines for the energy stock, stemming from Chesapeake's initial assertion that its status as a going concern might come into question in the near future. The energy company took on a lot of leverage in the past several years, and it counted on a recovery in oil and natural gas prices to help it pay down that debt. Yet with sustained weakness, Chesapeake could find it difficult or impossible to pay down or refinance what it owes. Investors are growing increasingly nervous about that, and the longer the stock stays below the key $1-per-share level, the harder it'll be for investors to regain their confidence.

This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements about the reverse stock split, authorized shares reduction and the related timing of implementation and effects thereof. Forward-looking statements are statements other than statements of historical fact. These forward-looking statements are generally identified by the words "believe," "expect," "anticipate," "estimate," "intend," "plan," "may," "should," "could," "will," "would," and "will be," and variations of such words and similar expressions, although not all forward-looking statements contain these identifying words. Although we believe the expectations and forecasts reflected in the forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate or changed assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under "Risk Factors" in Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and any updates to those factors set forth in the Company's subsequent quarterly reports on Form 10-Q or current reports on Form 8-K. 041b061a72


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