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Chesapeake Gets Another Nod From Cramer

tickerspy.com Staff

Shares of Chesapeake Energy (NYSE: CHK - News), the second-largest U.S. natural gas producer, are soaring 2% after CEO Aubrey McClendon appeared on Jim Cramer's "Mad Money," an appearance that saw McClendon continue to rebut recent piece by the New York Times that was highly critical of the natural gas industry. The piece, published on June 25, quoted one source as saying the U.S. natural gas industry is a Ponzi scheme while another compared what is happening today in the industry to the dotcom era of the late 1990s.Investors seem to like what McClendon had to say as the Natural Gas Stocks Index is up 0.8% on the day. The Times piece also called into question the real abundance of U.S. natural gas reserves, a point that McClendon contests.After the Times article was published, Oklahoma-based Chesapeake issued a statement where McClendon noted the U.S. passed Russia in 2009 to become the world's largest natural gas producer and that companies such as Chevron (NYSE: CVX - News), ConocoPhillips (NYSE: COP - News), Devon Energy (NYSE: DVN - News) and ExxonMobil (NYSE: XOM - News), among others, have made major shale-gas investments."Consider whether it could really be possible that all of these well-respected energy leaders, with a combined market cap of almost $2 trillion, know less about the economics of shale gas production than a single New York Times reporter, a few environmental activists and a handful of shale gas doubters," McClendon said in the statement.Cramer said he thinks McClendon makes a compelling argument and that he likes the stock.Anadarko Petroleum (NYSE: APC - News), EOG Resources (NYSE: EOG - News) and Williams Companies (NYSE: WMB - News) are all higher by 1% today. Investors can track the Natural Gas Stocks Index for performance trends and a suite of other metrics at tickerspy.com.Fun and informative, tickerspy.com is a free investing website where you can track multiple stock portfolios and compare against 250 proprietary Indexes tracking themes from dividends to ETFs to green energy to precious metals. Best of all, tickerspy.com lets you spy on the portfolios of nearly 3,000 Wall Street institutions and hedge funds and see graphs of their performance. Try tickerspy.com today and find out how you stack up against investing legends like Warren Buffett!