Last year started off with so much promise as Chesapeake Energy Corporation (NYSE:CHK ) was about to turn the corner on its long anticipated turnaround. The company's first quarter was exceptional as its earnings beat the street and were up 97% from the first quarter of 2013. As the second quarter drew to a close its stock was up nearly 15% and was vastly outperforming the market. Unfortunately the company's positive momentum hit a brick wall when oil prices unexpectedly rolled over and crushed what had been turning out to be a great year for the company. In the end the nearly 44% crash in oil prices pushed Chesapeake Energy's stock down by more than 22% as we see on the following chart.
Obviously, we can point a finger at oil as being the culprit that ruined the company's year. However, on the bright side, things could have been much as the company was in a much better position to weather the storm this time energy prices went south.Read more by clicking here.
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