Chesapeake Energy Q4 Profit Surges on Hedges; Adjusted Net, Revenue Miss the Mark (CHK)

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Natural gas producer Chesapeake Energy Corporation ( CHK ) late Tuesday posted fourth quarter earnings that more than doubled from last year, but its adjusted results fell short of expectations.

The Oklahoma City-based company reported fourth quarter net income of $429 million, or 63 cents per share, compared with $180 million, or 28 cents per share, in the year-ago period. Excluding massive hedging gains, adjusted profit was 58 cents per share.

Revenue rose 38% from last year to $2.73 billion.


On average, Wall Street analysts expected a slightly higher profit of 59 cents per share, on much larger revenue of $3.04 billion.

Chesapeake Energy shares fell 47 cents, or -1.9%, in premarket trading Wednesday.

The Bottom Line
Shares of Chesapeake Energy ( CHK ) have a 1.42% dividend yield, based on last night's closing stock price of $24.62. The stock has technical support in the $21-$22 price area. If the shares can firm up, we see overhead resistance around the $26-$28 price levels.

Chesapeake Energy Corporation ( CHK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 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.

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This article appears in: Investing , Stocks

Referenced Stocks: CHK

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