Chesapeake, Avon: S&P Gainers
The S&P 500 fell 15.04 points, or 1.11%, on Monday to close at 1,338.35 as worries about the stability of the eurozone sapped Wall Street's risk appetite
Shares of Chesapeake Energy rose 4.79% to $15.52. The energy exploration and production company said on Friday that it received a $3 billion loan from Goldman Sachs(GS) and Jefferies Group(JEF) , giving the oil and gas company more time to lower its debt. Carl Icahn has also reportedly taken a stake in the embattled company/
Chesapeake's stock currently trades at an estimated price-to-earnings ratio for next year of 7.97X; the average for energy exploration and production companies is 15.74X.Eighteen of the 37 analysts who cover Chesapeake Energy rate it at hold. Sixteen analysts give the stock a buy rating and three rate it at sell.
The stock has fallen 30.37% year to date.