Revenue fell 7.5% from the year-ago period to $146 million for the quarter, missing the Capital IQ Consensus of $148.1 million. Swift Energy posted earnings of 13 cents a share for the quarter, which is in-line with analysts' expectations.
Swift Energy plans to balance capital expenditures in 2014 with its operating cash flow, available bank line, and proceeds from asset sales and joint venture activity. The company's current plan budgets for $300 million to $350million in capital expenditures.
Looking to 2014, the company expects to produce between 11.3 million barrels of oil equivalent (MMBoe) and 11.8 MMBOE, compared to the 11.75 MMBoe produced in 2013.
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TheStreet Ratings team rates SWIFT ENERGY CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SWIFT ENERGY CO (SFY) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself."