So, you're looking for the price of Chesapeake Energy stock and probably feeling a little bit confused. Join the club. If you pull up a ticker for "CHK" on your favorite finance app right now, you might see a number that looks weird, or maybe you're seeing a ticker called "EXE" and wondering if you took a wrong turn at the digital corner.
Basically, the old Chesapeake is gone. But don't panic. It didn't disappear into thin air; it just leveled up.
In late 2024, Chesapeake Energy pulled off a massive merger with Southwestern Energy. It was a $7.4 billion deal that fundamentally changed the landscape of American natural gas. When the dust settled, the company rebranded itself as Expand Energy Corporation.
The New Reality of the Price of Chesapeake Energy Stock
Honestly, if you want to track the value of what used to be Chesapeake, you have to look at Expand Energy (EXE). As of mid-January 2026, the stock is trading right around $99.96. It's been hovering in that $98 to $105 range for a while now.
You’ve gotta realize that the old CHK ticker you might be used to seeing—the one that defined the shale revolution and then broke hearts during the 2020 bankruptcy—is effectively a relic. When the merger closed, Southwestern shareholders got 0.0867 shares of the new company for every share they owned. Chesapeake shareholders basically saw their holdings transition into this new powerhouse.
✨ Don't miss: Online Associate's Degree in Business: What Most People Get Wrong
Why the Price is Wobbling Right Now
Natural gas is a fickle beast. Kinda always has been. Right now, the Henry Hub spot price—which is basically the North Star for guys like Expand Energy—is sitting just under $3.50 per MMBtu.
The Energy Information Administration (EIA) recently dropped a report saying they expect gas prices to dip about 2% this year. That’s why the stock isn't skyrocketing today. There’s a bit of a "wait and see" vibe in the market. Traders are looking at a winter that hasn't been quite as brutal as the bulls hoped for, which means there's plenty of gas sitting in storage.
But here is the kicker: 2027 is looking like a whole different animal. The EIA is projecting a 33% price spike next year as demand finally outpaces supply.
What Actually Drives the Value Today?
If you're holding these shares, you aren't just betting on a cold winter anymore. You’re betting on LNG (Liquified Natural Gas).
🔗 Read more: Wegmans Meat Seafood Theft: Why Ribeyes and Lobster Are Disappearing
The new company is the largest producer of natural gas in the U.S. They are positioned perfectly in the Marcellus and Haynesville basins. These spots are right next to the massive export terminals on the Gulf Coast.
- Export Capacity: Three new LNG facilities—Plaquemines, Corpus Christi Stage 3, and Golden Pass—are ramping up.
- Efficiency: Because they merged, they’re cutting out about $400 million in "synergies." That’s just corporate-speak for "we don't need two of everything anymore."
- Dividends: The company is currently yielding about 2.3%. It's not a get-rich-quick yield, but for a volatile sector like energy, it’s a solid "thank you" for sticking around.
The Bankruptcy Ghost
Some people still see the name Chesapeake and get nervous. You can't blame them. The 2020 Chapter 11 filing was a mess for retail investors.
However, the Expand Energy of 2026 has an investment-grade balance sheet. They aren't the debt-fueled wildcatters of the Aubrey McClendon era. They are much more like a utility company now—focused on "returns-driven strategy" rather than just drilling every hole they can find.
Is it a Buy?
Analysts at places like Raymond James and BofA have been leaning bullish, with some price targets stretching up toward $135. But you've got to weigh that against the fact that WTI oil prices might stay low, which can sometimes drag the whole energy sector down, even if gas is doing its own thing.
💡 You might also like: Modern Office Furniture Design: What Most People Get Wrong About Productivity
If you’re looking at the price of Chesapeake Energy stock as a long-term play, you’re essentially buying into the idea that the world needs American gas to bridge the gap to renewables.
Actionable Steps for Investors
Stop looking for the CHK ticker if you want real-time data. It’s confusing and often shows delayed or "dead" data on certain platforms.
- Switch to EXE: Start tracking Expand Energy (EXE) on NASDAQ. This is the actual entity moving the needle.
- Watch the Henry Hub: Don't just watch the stock; watch the gas prices. If Henry Hub stays below $3, expect the stock to tread water. If it breaks $4, the stock usually follows.
- Check the 2027 Outlook: If you’re a swing trader, the "big move" is forecasted for next year. Buying on the 2026 dips when the weather is mild might be the play for a 2027 payoff.
- Verify the Dividend: Make sure your brokerage has updated your cost basis correctly from the merger. If you held CHK or SWN through the transition, those numbers can sometimes look wonky in your dashboard until you manually refresh.
The energy game has changed. The "wild west" days of Chesapeake are over, replaced by a massive, calculated corporate machine called Expand Energy. It might be less "exciting" than it was a decade ago, but for your portfolio, less excitement is usually a good thing.
Next Steps for You:
Check your current brokerage holdings to ensure any old Southwestern or Chesapeake shares have been fully converted to Expand Energy (EXE) at the 0.0867 ratio. Then, set a price alert for Henry Hub natural gas at $3.80; a break above that level is often the first signal for a sustained rally in this sector.