For the first quarter Chesapeake reported earnings of 59 cents a share, beating the Capital IQ Consensus Estimate of 48 cents a share by 11 cents. Revenue grew 47.4% to $5.04 billion. Analysts expected revenue of $4.52 billion for the quarter.
Gas production increased 11% year-over-year to 675.2 thousand barrels of oil equivalent a day.
Looking to the full-year 2014 Chesapeake raised its total production growth outlook to between 9% and 12% from between 8% and 10% growth.
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TheStreet Ratings team rates CHESAPEAKE ENERGY CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHESAPEAKE ENERGY CORP (CHK) 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 robust revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and generally higher debt management risk."