1 Large Investor Calling for This CEO's Head
In this video, Energy Analyst Joel South takes a look at some very vocal dissent from TPG-AXON Capital, which has 4.5% ownership of Sandridge Energy, (NYS: SD) . They are frustrated with how long the stock price has continued to underperform the industry, and they are ready for a change, starting with the ousting of some of the top management, including the CEO. They're hoping this could curb what they see to be the company's reckless spending and incoherent strategy; South, however isn't quite so sure that these criticisms hit the mark.
Investors were startled after SandRidge plummeted when natural gas prices reached 10-year lows; but, with the company halfway through its ambitious three-year plan to profitability, the future looks bright. If you are unsure about the future of this emerging oil and gas junior, and are looking to find out more about its strengths and weaknesses, you should view this brand new premium report detailing SandRidge's game plan and what to expect from the company going forward. To get started, click here!
The article 1 Large Investor Calling for This CEO's Head originally appeared on Fool.com.Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of ExxonMobil and has the following options: long JAN 2013 $16.00 calls on Chesapeake Energy, short JAN 2014 $15.00 puts on Chesapeake Energy, long JAN 2014 $20.00 calls on Chesapeake Energy, and long JAN 2014 $30.00 calls on Chesapeake Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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