On Monday, Shares of Chesapeake Energy Corporation (NYSE:CHK), gained 5.68% to $7.81, as oil futures soared on Monday for a third successive day, rising more than 8 percent, as a downward revision of U.S. crude production data and OPEC’s readiness to talk with other producers assisted extend the biggest three-day price surge in 25 years, according to Reuters.
U.S. crude oil prices have skyrocketed more than $10 a barrel in three days, erasing the month’s declines as a series of relatively small-scale supply disruptions and output risks prompted bearish traders to take profits on short positions, which had been near a record a week ago. Reuters Reports
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.
Shares of Phillips 66 (NYSE:PSX), inclined 2.38% to $79.07, during its last trading session.
Warren Buffett revealed an investment in Phillips 66, maybe a signal that the world’s most successful value investor has found a bottom in oil. The $4.48 billion stake gives Berkshire Hathaway about 10.8% of the company.
This is Buffett’s second bite at the Phillips apple: Berkshire once “held a large stake in the Houston-based company,” writes Jonathan Stempel at Reuters, but swapped two-thirds of it in Feb. 2014 for shares in another company.
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S).
Finally, GoPro, Inc. (NASDAQ:GPRO), ended its last trade with -3.30% loss, and closed at $46.59.
GoPro has released a new feature that further enables users to effortlessly share their memorable moments captured on their GoPro devices. This smart new feature allows the user to create short video clips directly on the camera or mobile device for easy sharing. Simply press the Trim icon in playback mode, choose a 5-, 15-, or 30-second clip from any of your recorded content, and save it for sharing, all without transferring entire video files.
GoPro, Inc. develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing, and enjoying engaging content. The company offers HERO line of capture devices, such as cameras; premium accessories, counting battery BacPac, smart remote, and LCD touch BacPac accessories; and mounts comprising equipment-based mounts comprising of helmet, handlebar, roll bar, and grip and tripod mounts that enable consumers to capture content while engaged in a range of activities, in addition to mounts that enable customers to wear the mount on their bodies, such as wrist housings, chest harnesses, and head straps.
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