Some pretty smart people like the LNG market long term . First look Interoil is selling to cheap based on GLJ estimates . Etc.
Natural gas exporter Cheniere Energy (NYSE: LNG) has become a battleground stock for hedge funds.
Billionaire investor Carl Icahn is the largest shareholder of Cheniere, which stores and liquefies natural gas for export. He’s been steadily adding to his Cheniere Energy position as the stock has steadily tumbled.
Carl Icahn took a 6.54% stake in August. Since then, he’s upped his stake several times and now owns 12.65% of the company. It’s one of Icahn’s largest holdings and he has two seats on the company’s board.
Icahn is invested at a cost basis of roughly $63 a share. The stock is down 25% from his cost basis and is off 32% year-to-date.