Chesapeake Energy: S&P Intraday Gainer

NEW YORK (TheStreet) -- Chesapeake Energy(CHK) was the best-performing stock in the S&P 500 on Monday morning.

The S&P 500 was falling about 13.5 points to 1,339.

Shares of Chesapeake rose 8.68% to $16.09. The Oklahoma City-based energy exploration and production company said Friday 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.

Chesapeake trades at an estimated price-to-earnings ratio for next year of 8 times; the average for exploration and production companies is 15.6. For comparison, Williams Partners(WPZ) has a higher forward P/E of 16.92.

Eighteen of the 37 analysts who cover Chesapeake rated it hold. Sixteen analysts gave the stock a buy rating and three rated it sell.

The stock has fallen 27.79% year to date.

-- Written by Alexandra Zendrian