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Chesapeake Energy (CHK) Stock Down on Moody's Negative Note

NEW YORK (TheStreet) -- Chesapeake Energy (CHK - Get Report) shares are slumping 1.27% to $7.41 on Friday after Moody's said earlier today that the company's cash margins in 2016 will be hurt by high gathering and transportation costs (G&T).

These costs pertain to gathering, compressing, treating, and transporting fuel, the credit reporting agency stated.

The company is at a disadvantage compared to its peers whose G&T costs are not as high. On top of that, sliding oil prices are also adding to the company's concerns, the agency noted.

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Additionally, Chespeake Energy stock is declining in late morning trading with decreasing oil prices. Brent crude is falling 0.59% to $48.93 per barrel while crude oil (WTI) is gaining 0.31% to $42.36 per barrel, according to the CNBC.com index.

Chesapeake Energy produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the U.S.

Separately, TheStreet Ratings team rates CHESAPEAKE...


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