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Stock Market & Financial Investment News

News Breaks
April 9, 2012
16:05 EDTCHKChesapeake announces $2.6B in and gas asset monetization transactions
Chesapeake Energy announced three oil and gas asset monetization transactions for total proceeds of approximately $2.6B in cash. Chesapeake has completed the sale of preferred shares of a newly formed unrestricted, non-guarantor consolidated subsidiary, CHK Cleveland Tonkawa, and a 3.75% overriding royalty interest in the first 1,000 new net wells to be drilled on CHK C-T leasehold and certain wells contributed at closing for proceeds of $1.25B. The purchasing investment group was led by GSO Capital Partners, an affiliate of the Blackstone (BX). Chesapeake has retained all the common equity interests in CHK C-T. Chesapeake also completed the sale of a 10-year volumetric production payment to an affiliate of Morgan Stanley (MS) for proceeds of approximately $745M, or approximately $4.68 per thousand cubic feet of natural gas equivalent, for certain producing assets in its Anadarko Basin Granite Wash play. Finally, Chesapeake recently signed a purchase and sale agreement covering approximately 58,400 net acres of leasehold in the Texoma Woodford play in Bryan, Carter, Johnston and Marshall counties in Oklahoma to XTO Energy, a subsidiary of Exxon Mobil Corporation (XOM), for approximately $590M in cash before certain deduction and standard closing adjustments. The properties include approximately 25 mmcfe per day of current net production. The transaction is expected to close on April 30.
News For CHK From The Last 14 Days
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January 23, 2015
10:02 EDTCHKOn the Fly: Analyst Initiation Summary
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10:02 EDTCHKOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmSurg (AMSG) upgraded to Overweight from Neutral at Piper Jaffray... Anglo American (AAUKY) upgraded to Neutral from Sell at Goldman... Autobytel (ABTL) upgraded to Buy from Hold at Ascendiant... Charles River Labs (CRL) upgraded to Outperform from Market Perform at William Blair... Chesapeake (CHK) upgraded to Outperform from Neutral at Credit Suisse... CubeSmart (CUBE) upgraded to Buy from Neutral at SunTrust... Cypress Semiconductor (CY) upgraded to Neutral from Underweight at JPMorgan... DreamWorks Animation (DWA) upgraded to Overweight from Neutral at Piper Jaffray... E-Trade (ETFC) upgraded at Credit Suisse... Kate Spade (KATE) upgraded to Buy from Neutral at Mizuho... LinkedIn (LNKD) upgraded to Strong Buy from Market Perform at Raymond James... Matthews (MATW) upgraded to Outperform from Neutral at Macquarie... Meridian Bioscience (VIVO) upgraded to Buy from Hold at Craig-Hallum... Michael Kors (KORS) upgraded to Buy from Neutral at Mizuho... NIC Inc. (EGOV) upgraded to Hold from Sell at Maxim... Natural Grocers (NGVC) upgraded to Overweight from Neutral at Piper Jaffray... Nucor (NUE) upgraded to Buy from Neutral at Goldman... ResMed (RMD) upgraded to Buy from Hold at Needham... Smith & Wesson (SWHC) upgraded to Buy from Neutral at Dougherty... Ternium (TX) upgraded to Neutral from Sell at Goldman... Union Pacific (UNP) upgraded to Buy from Hold at BB&T... ZAGG (ZAGG) upgraded to Buy from Hold at Craig-Hallum... lululemon (LULU) upgraded to Overweight from Neutral at JPMorgan.
07:41 EDTCHKChesapeake initiated with a Neutral at Susquehanna
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06:53 EDTCHKChesapeake upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded Chesapeake to Outperform based on relative valuation, an improved balance sheet, and increased financial strength that can be used to upgrade its asset base. Price target raised to $24 from $21.
January 22, 2015
12:48 EDTCHKCarl Icahn believes oil prices will go lower
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January 21, 2015
06:42 EDTCHKTotal to cut spending on North Sea, U.S. shale projects, Reuters says
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January 20, 2015
10:29 EDTCHKONGC speculated to potentially hold talks to buy Chesapeake, EnergyPlugged says
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