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Chesapeake Energy Adjusted Q4 Net Beats View, but Revenue Falls Well Short (CHK)

By Dividend.com,  February 23, 2011, 08:56:54 AM EDT

Natural gas producer Chesapeake Energy Corporation ( CHK ) late Tuesday said its fourth quarter profit plunged 65% from last year, but adjusted results beat analyst expectations.

The Oklahoma City-based company reported fourth quarter net income of $180 million, or 28 cents per share, compared with $515 million, or 75 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 70 cents per share.

Revenue fell 10% from last year to $1.98 billion.

On average, Wall Street analysts expected a smaller adjusted profit of 64 cents per share, albeit on much higher revenue of $2.2 billion.

Chesapeake Energy shares rose 49 cents, or +1.5%, in premarket trading Wednesday.

The Bottom Line
Shares of Chesapeake Energy ( CHK ) have a .94% dividend yield, based on last night's closing stock price of $32.01. The stock has technical support in the $28 price area. If the shares can continue the recent momentum, we see overhead resistance around the $34-$36 price levels.

Chesapeake Energy Corporation ( CHK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CHK



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