Chesapeake Energy Corp (CHK)

[researcher59]

Barrons -

DJ Chesapeake Energy: It Just Wasn't Good Enough? -- Barron's Blog
(Dow Jones 08/03 12:33:10)

By Ben Levisohn
Like other stocks today, Chesapeake Energy ( CHK) opened higher this morning
after reporting earnings, only to sink into the red as the trading day
continued. Chesapeake Energy reported an adjusted profit of 18 cents, beating forecasts
for 14 cents, while oil & gas revenue came in at $1.3 billion, beating
forecasts for $1.1 billion. Marketing revenue, however, came in at $1
billion, below forecasts for $1.2 billion.

Wells Fargo's David Tameron explains why Chesapeake's earnings weren't good
enough for a sustained gain:

Overall production light on natural gas with slight crude miss. Offseting,
EPS beat and production ramping in July and expected to increase through YE
after big 2Q spud totals. Full-year capex and production guidance maintained
and ops update overall solid. While company continues to execute, we still
feel a transformational event/acquisition is needed for shares to get
sustained traction.

Shares of Chesapeake Energy have dropped 1.1% to $4.57 at 12:26 p.m. today,
while the Energy Select Sector SPDR ETF ( XLE) has fallen 1.1% to $65.61.