Southwestern Energy Q1 profit rises 52% but shares fluctuate


Southwestern Energy (SWN -0.3%) shares are fluctuating between gains and losses a day after SWN's Q1 earnings rose 52% Y/Y, beating estimates as operating revenue was bolstered by higher gas sales.

Gas sales rose 52% to $793M, although oil sales fell to $2.05M from $5.4M a year earlier.

Q1 total production of oil and gas rose 23% Y/Y; the average realized price, including hedging effects, gained 23% to $4.19 for natural gas while oil prices fell 6.1% to $100.43.

Shares spiked briefly during this morning's earnings call when CEO Steven Mueller made positive comments regarding still achievable growth targets even with downside capex.

SWN is downgraded to Hold from Buy at Maxim Group, which says the stock's valuation is full despite the strong Q1 results.

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Comments (1)
  • rmiers1
    , contributor
    Comments (53) | Send Message
     
    when wall street has so much paper money (and can get all they want), it is very easy to run a stock down. Jim Cramer himself boasted of the ability to drive stock prices down so a trading profit could be made. Boasted on TV, he did.
    Fast forward, without serious government oversight and penalty (civil and criminal) it is possible to control the price of entire sectors (example; physical gold vs paper gold contracts)(lots of contracts and virtually zero "gold" you can see in vault and count.[look at gold export data]
    It is also easy to issue more stock with permission of the company issuing the stock. It is called naked shorting. Pretty easy to flood market with cheap shares.
    SWN is just another injured body on the side of road leaving so called wall street
    3 May 2014, 02:50 AM Reply Like
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