Wednesday, August 11, 2010

Chesapeake Energy Corp. (CHK): Jim Cramer Opinion

By Andrea:

August 11, 2010: Jim Cramer featured Chesapeake Energy Corp. (CHK) last night on Mad Money and is convinced that the stock is a strong buy. With Chesapeake's recent 2010 Q2 earnings report and announcement that they own the largest acreage in both the Eagle Ford Shale and the Niobrara, they may have finally carved out a bottom according to Cramer. Cramer rallies for the stock based on Chesapeake's recent debt deal they completed in addition to the 14% production increase they noted in their 2010 2Q earnings call. However; the stock is not getting the attention it deserves, says Cramer. After its huge fall in the past few months, investors are afraid to touch the stock. Cramer takes us to the charts and points out the "W" in the stock's trend, a series of higher lows over a period of time. Cramer may be ready to regain his credibility when it comes to Chesapeake Energy:

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