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Chesapeake Energy’s stock falls to 20-year low, Kinder Morgan’s drops after earnings

Shares of Kinder Morgan Inc. dropped Thursday in active trading, dragged down by a disappointing earnings report and a selloff in crude oil and natural gas prices.

The weakness in oil and gas prices also helped fuel a selloff in the energy sector, highlighted by a tumble on heavy volume in Chesapeake Energy Corp. shares CHK, -7.06% which were in danger of the lowest close in 20 years.

The SPDR Energy Select Sector exchange-traded fund XLE, -0.23% slumped 0.5% in afternoon trading, with 17 of 29 components trading lower.

The most-active component of the energy ETF (XLE) was Kinder Morgan’s stock KMI, -0.92% which dropped 1.2% on volume of more than 13 million shares.

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