by bashers and the oil & gas industry-hating US Press about McClendon's loans compel you to sell at a loss at this moment in time. This company has the second most (XOM is first) natural gas reserves in the US and when natural gas prices start to rise, which they will, the stock price will rise. Plus this company is the best takeover target in the natural gas industry and I really believe that a major oil company will buy them out for 30+ a share within the next year. This of course is only my opinion but I have been working in the Oil & Gas industry for over 30 years and am better informed than non oil & gas industry personnel, which certainly include the bashers on this board.
Excellent post.There are many energy companies licking their chops today at this taleover target. The bullseye on CHK's back just got bigger! I agree the take out price is between $30-$40.
Keep bashing and try to get the price down lower since I want to accumulate more shares. The more you bashers bash - especially if you are paid bashers since there is a reason you are getting paid to bash - the more we know the stock will eventually recover. Although I agree that what McClendon has done appears unethical, CHK is a very different company than Enron. But by all means keep bashing and try to talk more sheeple into selling, since I - and your employer - want their shares.
Wrong again. I don't work for them or anyone with an interest other than constant curiosity at the level of greed exhibited by these CEO's.
Appears unethical?? It's unethical self-dealing at the expense of shareholders and the fact that their General Counsel points to a small, unclear footnote to justify it evidences how clearly unethical this activity was. If it was okay they would have simply disclosed it. Did you not read where no analyst who covered the company was aware of this? It's another Enron...
U may know oil and gas but you don't know much about securities law. This self-dealing is absolutely like what we saw with Enron, and this stock is going to be a takeover target due to this CEO's apparent self-dealing. Situations like this rarely lead to high going-concern prices, but, typically to quick sales so the Board can wash their hands of this mess. A good argument to separate the CEO from the Board Chairman position I'd say.
In fact, this revelation about McClendon's loans assures a buyout, which will be $30+. This stock is currently trading under its book value and a large oil & gas major can scoop it up cheap at $30+.
The reaction to this news comes as a suprise to me. McClendons had the option to buy this 2.5% intrest in all the wells they drill since the day CHK went public. If I'm not mistaken Tom Ward also had this option while he was at CHK. If your selling on this news I think it's a mistake.
Josie, I'm losing my shirt with this stock as this CEO and BOD make all these back room deals then head off to an NBA game or fishing in the Bahamas... but are you really a female telling that fabulous farrrrrrrt story. I bet you fart when you get it on...right on sister...
I bought more as it spiked down this morning.
Great time to accumulate while "blood is in the street" on this stock. Complete overreaction by sheeple sellers - shorts and smart long term accumulators of this stock are making money off of the sheeple sellers.
Agreed, I bought a bunch this morning as well, short term pain for long term gains and I will forever get the divy. I can't believe that its this cheap, sure NG is cheap but this stock is crazy cheaper and a good buy long term.