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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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June 29, 2015
10:09 EDTCHKOn The Fly: Analyst Upgrade Summary
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06:45 EDTCHKChesapeake upgraded to Buy from Underperform at Sterne Agee CRT
Sterne Agee CRT upgraded Chesapeake (CHK) two notches to Buy from Underperform and increased its price target to $13 from $9. The firm said shares are now oversold and the "short" call is now crowded. Sterne Agee CRT said management is working to mitigate the near-term liquidity drain and is aggressively pursuing alternatives to keep pipeline counter-party Williams Companies (WMB) whole on its contract, which could reset shares higher. The firm said the focus should be on Chesapeake's absolute liquidity and raised estimates to reflect slightly improved NGL fundamentals. Sterne Agee CRT recommends trading oriented accounts cover shorts and go long as any catalyst may drive a short squeeze rally in shares.
June 25, 2015
16:00 EDTCHKOptions Update; June 25, 2015
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15:48 EDTCHKChesapeake options active as share trend lower
Chesapeake July 11 and 12 puts are active on total put volume of 59K contracts (43K puts). July call option implied volatility is at 42, August is at 44; compared to its 52-week range of 23 to 68. Active put volume suggests traders taking positions for large price movement.
10:00 EDTCHKOn The Fly: Analyst Downgrade Summary
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05:56 EDTCHKChesapeake downgraded to Sell from Neutral at UBS
UBS analyst William Featherston downgraded Chesapeake Energy (CHK) to Sell after his firm cut its long-term normalized natural gas price forecast to $4.00 from $4.50. Featherston thinks Chesapeake carries "far too much financial leverage" and he views the shares as expensive relative to peers. The analyst cut his price target for the stock to $11 from $16. Shares of the natural gas producer closed yesterday down 22c to $11.56. Featherston coupled the downgrade with an upgrade of Marathon Oil (MRO) to Buy.
June 22, 2015
16:00 EDTCHKOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
June 17, 2015
10:59 EDTCHKStocks with call strike movement; CHK AAL
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