Energy stocks are lower this afternoon with the NYSE Energy
Index down 0.12% and the S&P Energy Index sinking 0.20%.
In company news, Chesapeake Energy Corp (
) is up around 2.5% today at $15.94 but off a day high $16.24 with
a pair of high-powered investors reportedly taking sizable stakes
in the natural-gas producer.
CHK shares rallied into the close late yesterday after a
Bloomberg story reported billionaire investor Carl Icahn may now
own as much as 4% of the company's stock, citing a person with
knowledge of the matter.
There have been no stock ownership reports filed yet with
regulators detailing Icahn's prospective CHK stake and calls to his
office by Bloomberg were not returned. But in a new research note
issued today, analysts at Wells Fargo Securities reportedly said
many investors may be comforted by the prospect of Icahn buying
again into CHK. The brokerage also credits CHK for recently
securing a $3-billion short-term loan through Goldman Sachs and
Jeffries, providing the firm with additional liquidity while it
sells assets to raise cash.
Blackrock Inc. (
) also is said to have recently increased its CHK stake, with CNBC
reporting late yesterday that the firm buying as many as 4 million
shares to increase its overall position to 5 million shares.
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