Two energy firms caught up in a recent price slump saw large insider share purchases.
ທັງສອງ
ຄົນດຽວ
(ticker: OKE), an operator of natural-gas pipelines, and shale firm
Chesapeake ພະລັງວຽກ
(CHK) have seen shares fall 17% and 14% so far in June, but Oneok stock is also in the red year to date, down 7.1%. That’s better than the 18% drop in the
S&P 500
so far in 2022, but worse than the 30% gain in Chesapeake stock.
Oneok reiterated 2022 guidance when it reported first-quarter earnings ໃນຕົ້ນເດືອນພຶດສະພາ. Truist analyst Neal Dingmann reiterated a Buy rating on Oneok stock with a $78 price target. “We look for 2022 as an execution year with continued benefit from the commodity,” Dingmann wrote.
Oneok President and CEO Pierce H. Norton paid $500,000 on June 17 for 8,975 shares, an average price of $55.54 each, according to a form he filed with the Securities and Exchange Commission. He now owns 9,414 shares. It was Norton’s first open-market stock purchase of Oneok stock since he was named to the top post on June 28, 2021. Previously, he was president and CEO of
One Gas
(OGS), a utility Oneok spun off in 2014.
ຈົດ ໝາຍ ຂ່າວລົງທະບຽນ
ໜັງ ສືພິມ Barron's Daily
ການສະຫຼຸບໂດຍຫຍໍ້ໃນຕອນເຊົ້າກ່ຽວກັບສິ່ງທີ່ທ່ານຕ້ອງການຮູ້ໃນວັນຂ້າງ ໜ້າ, ລວມທັງການສະ ເໜີ ຄຳ ເຫັນສະເພາະຈາກບັນດານັກຂຽນ Barron ແລະ MarketWatch.
Oneok didn’t respond to a request to make Norton available for comment.
Chesapeake noted the slump in its stock price, and last week doubled the authorization for buybacks of shares and warrants to $2 billion from $1 billion through the end of 2023. “We firmly believe our stock is undervalued,” CEO Nick Dell’Osso said in a release.
Credit Suisse analyst William Janela raised estimates with the increased buybacks, writing in a report that 2022 and 2023 cash-flow per share could rise 3% and 7%, respectively. He rates Chesapeake stock at Outperform with a $115 price target.
Josh J. Viets, Chesapeake’s chief operating officer, paid $206,800 on June 16 for 2,450 shares, an average price of $84.41 each. He now owns 25,804 shares. That was Viets’ first purchase since he stepped into his current post in February of this year. He was most recently a
ConocoPhillips
(COP) executive.
Chesapeake didn’t respond to a request to make Viets available for comment.
ພາຍໃນ Scoop ແມ່ນຄຸນລັກສະນະປົກກະຕິຂອງ Barron ທີ່ຄອບຄຸມທຸລະ ກຳ ຫຼັກຊັບໂດຍຜູ້ບໍລິຫານບໍລິສັດແລະສະມາຊິກໃນຄະນະ - ເຊິ່ງເອີ້ນວ່າຄົນພາຍໃນ - ພ້ອມທັງຜູ້ຖືຫຸ້ນໃຫຍ່, ນັກການເມືອງແລະຕົວເລກທີ່ໂດດເດັ່ນອື່ນໆ. ຍ້ອນສະຖານະພາບພາຍໃນຂອງພວກເຂົາ, ນັກລົງທືນເຫລົ່ານີ້ ຈຳ ເປັນຕ້ອງເປີດເຜີຍການຊື້ຂາຍຮຸ້ນກັບຄະນະ ກຳ ມະການຫຼັກຊັບແລະຕະຫລາດຫລັກຊັບຫລືກຸ່ມກົດລະບຽບອື່ນໆ.
ຂຽນເຖິງ Ed Lin ທີ່ [email protected] ແລະປະຕິບັດຕາມ @BaronsEdLin.