Chesapeake Energy flying higher after crushing estimates

|About: Chesapeake Energy Corporation (CHK)|By:, SA News Editor

Has Chesapeake (CHK +6.5%) turned the corner? The stock is flying after Q2 results crushed earnings and revenue estimates, daily gas production jumped 7% Y/Y, and full-year oil production guidance is raised.

Sterne Agee upgrades shares to Neutral on the strong operating results, fading near-term liquidity risks and new hedges providing cash flow visibility through 2014; "new CEO Lawler is showing early success on capital efficiency initiatives, evidenced by strong earnings growth with lower capital intensity.”