Chesapeake Energy Corp said it filed with U.S. financial regulators for a possible spin off of its oilfield services business. Chesapeake said it has retained Morgan Stanley & Co. LLC to evaluate strategic options for the business, Chesapeake Oilfield Operating LLC.
Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. Shares of CHK traded higher by 1.04% or $0.26/share to $25.29. In the past year, the shares have traded as low as $18.21 and as high as $29.06. On average, 9739320 shares of CHK exchange hands on a given day and today's volume is recorded at 212954.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.58% or $0.49/share to $31.59. In the past year, the shares have traded as low as $20.16 and as high as $33.52. On average, 13079500 shares of MS exchange hands on a given day and today's volume is recorded at 145939.
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