Goldman Sachs analysts recently published their list of the top 40 undervalued stocks and 40% of them were energy-related. Chesapeake Energy Corp. was the only energy stock listed of 25 others “that people expect to fail.”
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Icahn Now Chesapeake’s Second Largest Shareholder
Activist shareholder Carl Icahn, famous for shaking up management teams at what he considers undervalued companies, now holds about 5.8% of Chesapeake Energy Corp., according to a filing with the Securities and Exchange Commission (SEC).
Icahn Now Chesapeake’s Second Largest Shareholder
Activist shareholder Carl Icahn, famous for shaking up management teams at what he considers undervalued companies, now holds about 5.8% of Chesapeake Energy Corp., according to a filing with the Securities and Exchange Commission (SEC).
Devon Buys Santa Fe Snyder for $2.23B
Devon Energy once again showed its knack for timing on Friday bygrabbing Santa Fe Snyder while its stock was undervalued. Devonperformed a similar feat with PennzEnergy just last year (see DailyGPI, May 21). Observers believe this$2.23 billion merger, excluding about $1 billion in debt assumption,could be one of the last this year among large and small producersbecause of the impact of the booming energy market on stock prices.