5 Very Cheap Energy Stocks Ready To Explode

3. Chesapeake Energy Corporation (NYSE:CHK)

Investors with Long Positions (as of June 30): 33

Aggregate Value of Investors’ Holdings (as of June 30): $1.74 Billion

At the end of March, 37 hedge funds had a total investment of $2.53 billion in the $5.73 billion energy company Chesapeake Energy Corporation (NYSE:CHK). The decline in interest hasn’t worried Carl Icahn‘s Icahn Capital LP, the largest stockholder among these firms, as it remained put with its stake during the June quarter, holding 73.05 million shares, valued at $815.97 million on June 30. Chesapeake Energy Corporation (NYSE:CHK) surprised investors with its financial results for the second quarter and not because its loss per share of $0.11 was in line with the estimates or even because its $3.03 billion in revenue beat expectations by $270 million. Rather, shock was elicited because the company chose to expand its production after the previous cost reduction moves left it some room to maneuver. Given the current low commodity prices, this raised the eyebrows of some analysts.