- 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.