Chesapeake shares improved Thursday

FROM STAFF REPORTS | Modified: May 3, 2012 at 11:18 am | Published: May 3, 2012 Oklahoman    Leave a comment

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Chesapeake Energy Corp.'s stock rebounded Thursday, closing up 45 cents, or 2.7 percent, to $17.19 a share.

Chesapeake's stock dropped to its lowest level in three years Wednesday after reporting lower-than-expected earnings and news that CEO Aubrey McClendon had operated a hedge fund inside the company.

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• Read the preliminary proxy statement filed Friday by Chesapeake Energy Corp.
  
• Read Chesapeake Energy Corp.'s response to a set of questions from Reuters
  

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On Thursday, Bernstein upgraded the stock from underperform to outperform, expecting the company's current issues to be resolved.

The stock closed Wednesday at $16.74 a share, down $2.86. The drop erased $1.8 billion from the company's value.

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