Chesapeake Shares Climb After Icahn Boosts Stake (Fox Business)
Activist investor Carl Icahn upped his stake in Chesapeake Energy by about one percentage point to 9.98%, giving the stock a slight boost Monday morning. According to a regulatory filing with the Securities and Exchange Commission, Icahn disclosed ownership of 66.5 million shares in the energy producer. Chesapeake Energy Corporation (NYSE:CHK) shares opened the week near 52-week highs before paring gains. The stock, which was up 50% this year as of Friday’s close, rose 15 cents higher to $25.15 in mid-morning trading Monday.
Exxon Mobil Corp. Receives Negative Earnings Outlook Update from Oppenheimer (XOM) (The Utah People’s Post)
Oppenheimer decreased their earnings per share (EPS) estimates on shares of Exxon Mobil Corporation (NYSE:XOM) in a research note issued on Monday, American Banking and Market News reports. The firm currently has a “market perform” rating on the company’s shares. Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Exxon Mobil Corp. in a research note to investors on Friday. Finally, analysts at Barclays Capital reiterated an “equal weight” rating on shares of Exxon Mobil Corporation (NYSE:XOM) in a research note to investors on Friday, August 2nd. They now have a $102.00 price target on the stock.
Chesapeake Energy Corp. Price Target Increased to $30.00 by Analysts at Oppenheimer (CHK) (Daily Political)
Chesapeake Energy Corporation (NYSE:CHK) had its price objective hosited by Oppenheimer from $24.00 to $30.00 in a report released on Thursday, StockRatingsNetwork.com reports. Oppenheimer currently has an outperform rating on the stock. Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. reiterated a neutral rating on shares of Chesapeake Energy Corp. in a research note to investors on Friday, August 2nd. Separately, analysts at Global Hunter Securities raised their price target on shares of Chesapeake Energy Corp. from $27.00 to $31.00 in a research note to investors on Friday, August 2nd. They now have a buy rating on the stock.
InterOil continues talks with Exxon Mobil (MSN Money)
InterOil Corporation (USA) (NYSE:IOC) said Monday that it is continuing negotiations with a subsidiary of Exxon Mobil Corporation (NYSE:XOM) to develop its natural gas fields in Papua New Guinea. The Houston-based oil and gas producer also said that it has finalized a $75 million secured loan to help boost its exploration and drilling program. InterOil said that talks with ExxonMobil Papua New Guinea Ltd. are continuing, even though its exclusivity agreement has ended. The two companies announced earlier this year that it was in exclusive talks to develop Petroleum Retention License 15 in Papua New Guinea.
Chesapeake Energy reorganization hits Utica, Marcelleus offices (Akron Beacon Journal)
A management shakeup at Oklahoma-based Chesapeake Energy Corporation (NYSE:CHK) has reportedly eliminated the company’s public relations department in the Utica and Marcellus shale, according to WKSU-FM radio and Crain’s Cleveland Business. They said new Chesapeake CEO Doug Lawler let four top executives go last week, along with 28 community outreach employees including Pete Kenworthy in Chesapeake’s Canton office.