CHESAPEAKE ENERGY $27.30 (New York symbol CHK; TSINetwork Rating: Extra Risk) (405-848-8000; www.chkenergy.com; Shares outstanding: 665.5 million; Market cap: $18.1 billion; Dividend yield: 1.3%) is up 9% since August 19, when activist investor Carl Icahn revealed that he had increased his stake in the company to 9.98% from 8.98%.
Icahn has a long history of pushing companies to make changes that have increased shareholder value.
He first acquired a stake in Chesapeake in May 2012. Since then, he has successfully pressured the company to replace four of its eight board members with his nominees. Most recently, four of Chesapeake’s top executives left as part of an ongoing reorganization. That’s in addition to co-founder and former CEO Aubrey McClendon, who departed in April, and two senior vicepresidents who left in May.
The company is selling assets to pay down debt and focus on properties with strong potential. In addition, Icahn continues to push for cost-cutting measures and a more conservative approach to spending.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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We do reserve the right, however, to collect and perform statistical analyses of the internet traffic to our website for our internal use. However, information collected does not allow us to identify any individual, and will not collect any personal information of the visitor. Furthermore, we do not sell, rent or loan to any outside parties the information collected and analyzed.
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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