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Strategies & Market Trends : Value Investing
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To: Grommit who wrote (28666)2/22/2008 11:43:16 AM
From: Jurgis Bekepuris  Read Replies (1) of 78740
 
CHK has reported 2007 results. Unfortunately, I do not have a good feeling about this company. It does a lot of wheeling and dealing that may work out great, but makes me uncomfortable. The debt load is pretty high too, which is great for a leveraged gas play, but may turn against them too. 2007 ROE even with all this leverage was low. Of course they say that they have recorded all kind of "one time" losses, but that does not make me comfortable either. I prefer APA and DVN where the accounting seems to be much more transparent, balance sheets are better and there is less of wheel and deal.

I sold most of my position, planning to add to DVN and STO.
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