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Chesapeake Energy (CHK): Q1 EPS of $0.18 misses by $0.10. Revenue of $2.42B (+50.1% Y/Y) misses...

  • Tuesday, May 1, 2012, 4:22 PM ET
    Chesapeake Energy (CHK): Q1 EPS of $0.18 misses by $0.10. Revenue of $2.42B (+50.1% Y/Y) misses by $290M. Revises its capex budget for drilling and completion costs to $7.5B-$8B from $7B-$7.5B in 2012 and $6.5B-$7B from $7.5B-$8.5B in 2013. Shares -1.8% AH. (PR)
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This news story has 14 comments:

  •  
    Ugly, just when things started looking brighter today. Glad I didn't buy into this.
    1 May 2012, 04:25 PM Reply Like
  •  
    I thought the only reason is was looking brighter was because of the rumor the CEO was resigning/being fired. But rumors aren't guarantees.

    It looks like it's got support at $17.50. If it breaks that, something around $17.50 is the next support point.
    1 May 2012, 04:59 PM Reply Like
  •  
    Will watch CHK for entry point. I like icahn buying shares-need an activist in there! The earnings miss will make the morning ugly
    2 May 2012, 08:39 AM Reply Like
  •  
    get that short on, they should drop at least 15% today

    word is step off
    2 May 2012, 10:16 AM Reply Like
  •  
    Absolutely no surprise here. The way to play (CHK) is to buy (CHKR). Get paid for NG's recovery, which will take many years, not many weeks.
    1 May 2012, 04:34 PM Reply Like
  •  
    agreed no real news here, anyone w half brain already knew a miss was coming due to plunging gas prices and the pre announcements they stopped drilling dry gas, there are a lot of costs in parking or moving drilling rigs & crews. good news that there is new management coming to hopefully watch out for us shareholders. the news of the miss no big deal. YOY liquids was up a lot and with all the new wells going into the liquid rich area & pop in oil prices means going forward the stock looks much better and share holder friendly management will be a big boost. Drilling/Operational costs will be higher and profits lower for 2 or 3 more quarters next summer the earnings (baring oil price or major melt down of the market) they PE should be putting stock price somewhere near 28~30/share. with a low PE still at that price. Only thing that may knock it lower would be Div cut or buyback stop. Mark
    1 May 2012, 05:58 PM Reply Like
  •  
    I am not even sure how anyone can trust this company. Clearly the announcement of McClendon stepping down as chairman was put in play to prop up the PPS enough so the stock would not crater as much on the earnings miss. Otherwise you very well could be looking at a sub 16 stock.

    Instead of worrying about short term price movements of their stock perhaps management should concentrate on operations instead? If NG continues its lull for years to come at 3 bucks, CHK might not be around to "enjoy" their overleveraged land grab. Well, if the worse comes I'm sure they will line their pockets in the meantime.
    1 May 2012, 06:06 PM Reply Like
  •  
    Chesapeake Energy Corporation Stock #CHK #Haynesville, #Marcelles and #Barnett #Shale assets with 45,000 oil/natgas wells. #oil #gas #wells - CHK is O V E R S O L D
    1 May 2012, 06:40 PM Reply Like
  •  
    No surprise? Do you guys realize their are other NG companies with far less debt that actually make money. If you think this is about NG prices, you're very wrong.
    1 May 2012, 06:49 PM Reply Like
  •  
    The news is not all out , an investment here is at great risk. Wait till it plays out. I owned but now do not own CHK.
    Bob
    1 May 2012, 06:54 PM Reply Like
  •  
    Agree. This stock is for people who like pain.
    1 May 2012, 10:54 PM Reply Like
  •  
    Chkr it is buy the dividends
    1 May 2012, 10:56 PM Reply Like
  •  
    Can't trust McClendon or the BOD. Lost confidence in 2008 when he sold old maps to CHK for $ 12.1 million with BOD approval.
    1 May 2012, 11:04 PM Reply Like
  •  
    No surprise at all, actually.

    Complete loss of all faith in the company and those elected to run it.

    Will be hard to recover from, when that level of mendacity is par for the course, it has indeed become endemic.

    Last year on Rigzone, I made a comment that for a small company the size of CHK, McClendon was not worth what they are paying him. I got alot of flack over it, but where are we now?
    2 May 2012, 05:11 AM Reply Like
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