Chesapeake Shares Slump To 52-week Low As Energy Stocks Slide

By MarketWatch Pulse

Shares of Chesapeake Energy Corp. fell to a 52-week low of $11.07 on Thursday, bringing its year-to-date decline to 43%, after analysts at UBS downgraded the stock to sell from neutral. Energy stocks were generally trading lower with Transocean Ltd. , Ensco PLC and Diamond Offshore Drilling Inc. among big losers in the wake of a broad decline in oil prices. July crude dropped 1.1% to $59.61 a barrel although July natural gas rose 1% to $2.787 per million British thermal units. Chesapeake shares slid 3.9%, Transocean shed 4%, Ensco retreated 3.6% while Diamond lost 3.2%.

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