Chesapeake Energy Corp.’s stock rallied late Thursday on rumors that activist investors Carl Icahn and BlackRock Investing are buying up stakes in the Oklahoma City energy company.
Bloomberg, Reuters and CNBC each reported Thursday afternoon that Icahn and BlackRock each have acquired at least 4 percent of Chesapeake stock. Investors must report in regulatory filings when they control a 5 percent stake in a publicly traded company.
The Oklahoman reported on May 15 that Chesapeake CEO Aubrey McClendon addressed rumors that Icahn was buying the company’s stock.
We wouldn’t be surprised if Carl became a large shareholder,” McClendon said. “He did in 2010, and within six months, the stock went up 50 percent. He made over $500 million and called me to thank me when it was all over. I have a good relationship with Carl. If he comes in, I’m pretty confident that he’ll make a lot of money.”
Chesapeake stock closed Thursday at $15.58 a share, up 49 cents, or 3.25 percent, on the day. In after-hours trading, the stock price gained another 36 cents, or 2.3 percent, as of 6 p.m.