Top 1%
CHK Chairman and CEO Aubrey McClendon purchased 750,000 shares of his company at a price of $57.25 a share on July 15, according to a filing with the Securities and Exchange Commission. The market value of the purchased shares was about $43 million..
Ok, so the dude bought at 10% higher than it is now.. does anyone know what's going on with the stock price - it's been free falling lately and though some of it is falling oil prices, that can't be all the story..
This post is more than 60 days old. Replying to it might be confusing for other members reading the discussion.
By all means, keep the ball rolling and post a new opinion.
Top 64%
longterminv
Jul 23 at 6:54 ET
Everyone in the sector got killed. From Google Finance:
Symbol Last Trade Change
GDP 49.83 -4.83 (-8.84%)
PXP 56.72 -3.28 (-5.47%)
APC 59.76 -3.08 (-4.90%)
DPTR 18.61 -0.99 (-5.05%)
NFX 52 -1.57 (-2.93%)
PLLL 16.51 -0.48 (-2.83%)
FPP 3.22 -0.18 (-5.29%)
GST 2.02 -0.10 (-4.72%)
PXD 60.15 -3.24 (-5.11%)
OXY 72.22 -4.78 (-6.21%)
Insider activity like that is good, but not in the face of energy price frenzy.
Top 4%
ITGURU
Jul 23 at 8:25 ET
I really think it is a short term response to the current energy bubble, and I will be buying on this dip as I beleive we will be challenged to solve our global energy problems for years to come .
I was buying into the finacials over the past few months as they were getting beat down and now that they are on the rise, i suspect many traders are cashing out of energy and chasing the next momentum wave.
I'm new to all this, but i guess im becoming a contrarian value invester?
Top 1%
guliamo
Jul 24 at 2:58 ET
Good to hear.. I thought I was missing something..
This insider buying at Chesapeake has been going on for quite a while now, It's hard not to be encouraged with news like that, I was going to trim some of my positin, but I think I'll wait till it's back into the 70's before i do that.
Cheers guys, thanks.
Top 25%
Freshness
Jul 24 at 11:39 ET
Commodities are getting hit all over, but it is not unusual for this time of year.
Check this out: http://www.peridotcapitalist.com/2008/07/did-wall-street-forget-about-chesapeake.html
Top 1%
guliamo
Jul 25 at 12:52 ET
Thanks Fresh, excellent analysis indeed.