Morris is long shares of Chesapeake Energy, but in moving to neutral from buy on Monday (and we all know on Wall Street that a neutral rating is just a sell rating by another name), the Citigroup analyst is not willing to tell any other investor to buy Chesapeake Energy shares here, even as the shares sit at a four-year low in tune with the historical slide in the price of natural gas.
The outlook for natural gas has not necessarily improved just because it hit the psychological threshold of $2. The fundamentals in the natural gas production market suggest the price pressure
It's one of the reasons why Chesapeake Energy shares aren't trading like they did in days past. Historically, an announcement from Chesapeake Energy about monetizing assets typically led to a rally in the stock. But, last week, when the company announced $2.6 billion in asset deals, the stock fizzled.The breaching of the $2 natural gas barrier was a big part of the
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