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Marshall Hargrave's  Instablog

Marshall Hargrave
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Former registered investment adviser rep and current entrepreneur. Now running an equity research company. Affinity for activist campaigns and targeted stocks.
My blog:
stockpucker
  • Billionaire Carl Icahn & His Oil & Gas Bets: Chesapeake (CHK), Transocean (RIG) And More 0 comments
    Feb 21, 2013 3:15 PM | about stocks: CHK

    Billionaire activist investor Carl Icahn likely made investors of Transocean (NYSE:RIG) and Chesapeake Energy (NYSE:CHK) very happy over the last few years. Icahn announced in early January that he planned to increase his Transocean stake from 1.56% to over 3.4%, but per a recent 13D filing with the SEC, Icahn now owns 20.15 million shares, or 5.6% of the company, making him the largest shareholder. This news comes just as Chesapeake's controversial CEO Aubrey McClendon announced his retirement, set for April 1. Chesapeake's stock has been up over 10% on the news.

    I believe that with McClendon gone, Chesapeake may move higher; and with Icahn investing heavily in Transocean, investors could be rewarded as Icahn pushes to unlock shareholder value, including the $4 dividend he is pushing for.

    read the rest at the stockpucker blog...

    Themes: Carl Icahn, Energy Stocks: CHK
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