Why Chesapeake Energy, Centennial Resources, and Callon Petroleum Rocketed Higher Today

Shares of U.S. energy company Chesapeake Energy (NYSE: CHK) rose a dramatic 70% in the first half hour of trading on Monday, June 8. Callon Petroleum (NYSE: CPE) advanced 50%, and Centennial Resources (NASDAQ: CDEV) saw a price gain of 34%. 

The thing is, this isn't a single day of gains. These three stocks also witnessed massive price increases on Friday June 5. The numbers are astounding. Over the past five trading days, Chesapeake is up nearly 250%, Callon roughly 175%, and Centennial 90% or so. There's one very big reason for the incredibly upbeat mood on Wall Street. But first, some important backstory. 

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Source Fool.com