Editor’s Note: Related tickers: SandRidge Energy Inc. (NYSE:SD), Chesapeake Energy Corporation (NYSE:CHK), Exxon Mobil Corporation (NYSE:XOM), ConocoPhillips (NYSE:COP)
Activism in energy sector creates obstacles for M&A (FoxBusiness)
When hedge fund TPG-Axon launched its activist campaign at U.S. oil and gas company SandRidge Energy Inc. (NYSE:SD) last year, the activist investor laid out hopes that the company could explore a sale. But an outright sale of the company has not happened. Paradoxically, that is at least in part because of a surge in activism in the energy sector this year, bankers and analysts said. According to Thomson Reuters data, there have been 13 activist situations involving publicly traded energy companies in the first eight months of 2013 alone. That is the same number of activist campaigns launched against energy companies for the period spanning 2003 to 2007.
Insider Selling: Chesapeake Energy Corp. SVP Sells 48,100 Shares of Stock (CHK) (MideastTime)
Chesapeake Energy Corporation (NYSE:CHK) SVP Martha Burger sold 48,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $26.03, for a total value of $1,252,043.00. Following the transaction, the senior vice president now directly owns 254,324 shares in the company. The transaction was disclosed in a filing with the SEC, which is available at this link. A number of analysts have recently weighed in on CHK shares. Analysts at Susquehanna downgraded shares of Chesapeake Energy Corporation (NYSE:CHK) from a “positive” rating to a “neutral” rating in a research note to investors on Wednesday, August 21st. They now have a $26.00 price target on the stock.
Pay Interest on Exxon Mobil Corp (SBWire)
Exxon Mobil Corporation (NYSE:XOM) has embarked on an aggressive strategy to beef up its unconventional oil assets while divesting itself of low-margin downstream assets. This has been an ongoing project, with the company purchasing 226,000 acres from ConocoPhillips (NYSE:COP) in Athabasca, Canada for $720 million. Despite Exxon Mobil Corporation’s recent poor financial results, this purchase, along with a range of other emerging catalysts, has the potential to catapult Exxon Mobil Corporation (NYSE:XOM)’s share price higher over the long term. Exxon’s second quarter results were disappointing For the second quarter of 2013, Exxon reported some particularly disappointing results for investors…
Roundup: Synovus Financial Corp. (NYSE:SNV), SandRidge Energy Inc. (NYSE:SD), Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM), Kodiak Oil & Gas Corp (TechSonian)
LeadingStockAlerts is a financial marketing firm that specializes in assisting the underserved small cap and micro-cap stock community. …SandRidge Energy Inc. (NYSE:SD) soared0.39% and closed at $5.20 on a traded volume of 6.99 million shares, whereas its average trading volume is 9.71 million shares. In the last three months, the stock is up1.36%. The Intra-day range for the stock is $5.13 and $5.30. Will SD Continue To Move Higher? Find Out Here SandRidge Energy Inc. (NYSE:SD) is an independent oil and natural gas company. The Company is engaged in development and production activities in the Mid-Continent, Gulf of Mexico and Permian Basin in west Texas.
Chesapeake Energy lays off some of its PR staff (DailyMail)
The corporate restructuring that began earlier this month at Chesapeake Energy Corporation (NYSE:CHK) has already led to layoffs among the company’s West Virginia public relations staff. Multiple sources have confirmed to the Daily Mail that at least four members of the company’s West Virginia community outreach group were laid off Aug. 14. They include Phil Pfister (of World’s Strongest Man fame), Jacque Bland and Scott Rotruck, who worked out of the firm’s Morgantown office. Maribeth Anderson, who also does government relations and lobbyist work for the company, was one of the survivors of the recent round of layoffs. She is now apparently one of the company’s few, if only, remaining public relations contacts in the state.
Zacks Reiterates “Neutral” Rating for Exxon Mobil Corp. (XOM) (DailyPolitical)
Zacks reiterated their neutral rating on shares of Exxon Mobil Corporation (NYSE:XOM) in a research report released on Tuesday morning, AnalystRatingsNetwork reports. Zacks currently has a $91.00 price objective on the stock. Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on ExxonMobil following its second-quarter 2013 release. The world’s largest publicly traded energy company reported better-than-expected revenues, stronger margins in the chemical business and lower costs.
TheStreet Reiterates Buy Rating for Exxon Mobil Corp. (XOM) (MideastTime)
TheStreet reissued their buy rating on shares of Exxon Mobil Corporation (NYSE:XOM) in a research report sent to investors on Tuesday morning, Analyst Ratings Network.com reports. “Exxon Mobil Corporation (XOM) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.,” the firm’s analyst wrote.
Chesapeake Energy Corp. Target of Unusually Large Options Trading (CHK) (WatchlistNews)
Shares of Chesapeake Energy Corporation (NYSE:CHK) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 36,113 put options on the stock, StockRatingsNetwork.com reports. This is an increase of approximately 109% compared to the typical daily volume of 17,250 put options. In other Chesapeake Energy Corp. news, EVP Douglas Jacobson sold 12,500 shares of the stock on the open market in a transaction that occured on Friday, August 23rd. The stock was sold at an average price of $26.00, for a total transaction of $325,000.00. Following the completion of the sale, the executive vice president now directly owns 917,245 shares in the company.
