Southwestern Energy Q1 profit rises 52% but shares fluctuate

|About: Southwestern Energy Co. (SWN)|By:, SA News Editor

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.