Chesapeake Energy receives a "sell" rating based on its debt and risky expansion
Monday, November 21, 2011
by Matt Warnock
An article in the Columbus Dispatch reports that the independent equity research firm, Argus Research, has given Chesapeake Energy a "sell" rating and reduced forecasts for its 2012 earnings following a closer look into its management and finances. The Oklahoma-based Chesapeake, a top investor in Ohio's Utica shale, is "spending at a rapid clip, piling on debt and getting into new businesses that are outside its traditional expertise," the article said.