The interest in using natural gas as an alternative to crude has helped natural gas-based companies appreciate in value. Chesapeake Energy (NYSE: CHK) has benefited from that interest, with a gain of more than 20% this year.
CHK is an interesting story in that during the craze in energy prices in 2008, the CEO of the company was forced to liquidate his entire position. That forced selling created an opportunity to buy the stock at an incredibly cheap price, even beyond the artificially low energy prices reached earlier this year.
Chesapeake has had a nice run since those lows. Taking profits here makes sense. The stock may see those gains cut in half during the last few months of summer. I have no problem selling some CHK here.
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