Will Chesapeake Be Icahn’s Next Project?

Chesapeke Energy Corporation (NYSE:CHK) may have attracted some investors with a big interest in the company. Bloomberg reported yesterday that Carl Icahn may have acquired a stake int the company of up to, but certainly below, 5%. BlackRock Inc. (NYSE:BLK) had certainly increased its stake in the company to more than 4 million shares up from 1 million.

Earlier in the week we reported that T. Boone Pickens, the head fund manager and famous supporter of natural gas, had sold out of Chesapeake completely. That move may have shaken some confidence in the company. Pickens is a close friend of the CEO, Aubrey...