Our focus on optimizing base production and continuing to generate efficiencies in the field drove a 3% increase in production compared to past year, adjusted for asset sales.
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Chesapeake shares were down 5 percent in morning trading to $7.22.
Chesapeake Energy Corporation most recently announcied its earnings on 2015-08-05.
Chesapeake Energy (NYSE:CHK) last released its earnings results on Wednesday, August 5th. They now have a $9.00 target price on the oil and gas exploration company’s stock, down from their previous target price of $18.00. The company had revenue of $2893.00 million for the quarter, compared to analysts expectations of $2785.26 million.
Chesapeake on Wednesday lowered its 2015 capital spending guidance to $3.4 billion to $3.9 billion.
Analysts have estimated a loss of 13 cents per share and a 47.1% year-over-year decline in revenue to $3.02 billion for the latest quarter as the oil and natural gas producer faces a volatile commodities market. The company has a market cap of $5.28 billion.
Posting a smaller-than expected third-quarter loss wasn’t enough to help Chesapeake Energy (CHK) shake off persistent worries about cash burn.
Chesapeake Energy Corporation (NYSE:CHK): On Tuesday heightened volatility was witnessed in Chesapeake Energy Corporation (NYSE:CHK) which led to swings in the share price. Chesapeake Energy has a 1-year low of $6.01 and a 1-year high of $24.43. During the same period in the prior year, the business posted $0.38 EPS. The stock’s 50 day moving average is $7.94 and its 200 day moving average is $10.42. A total of 12,000 shares were purchased at an average price of $7.36. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company.
Losses, adjusted for one-time gains and costs, were 5 cents per share, which was better than per-share losses of 13 cents that Wall Street had expected, according to a poll by Zacks Investment Research. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The production and exploration section is in charge of producing and locating natural gas petroleum and NGL. The company now has an average rating of “Hold” and a consensus target price of $11.50.
Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. The primary source of this reduction was a noncash impairment of the carrying value of Chesapeake’s oil and natural gas properties largely resulting from significant decreases in the trailing 12-month average first-day-of-the-month oil and natural gas prices as of September 30, 2015, compared to June 30, 2015.
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‘The many actions that we have taken this quarter, including executing new gas gathering agreements, amending our revolving credit facility, reducing complexity and commitments and lowering our business costs, have significantly increased Chesapeake’s ability to create additional value.
