Chesapeake Energy Corporation is an independent oil and gas company engaged in the acquisition, development, and production of onshore U.S. natural gas resources. The company has grown rapidly and is now the second largest natural gas producer in the U.S. The company has also demonstrated considerable drilling prowess, capitalizing on its extensive inventory of acquired undeveloped acreage to make substantial reserve additions.

Currently, Chesapeake Energy has a Zacks Rank #3 (Hold) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Chesapeake reported adjusted third-quarter 2016 profit of 9 cents per share against the Zacks Consensus Estimate of loss of 4 cents.

Revenue: Revenues of $2,276 million came above the Zacks Consensus Estimate of $1,034 million.

Key Stats: Chesapeake’s production for the reported quarter averaged approximately 59 million barrels of oil equivalent (MMBoe), reflecting a year-over-year decrease of 3.3%. Production consisted of approximately 8 barrels (MMbbls) of oil (down 27.3% year-over-year), 268 billion cubic feet (bcf) of natural gas (up 2% year-over-year) and 6 MMbbls of NGL (down 14.3% year-over-year).

Check back later for our full write up on this Chesapeake Energy earnings report later!

CHESAPEAKE ENGY Price and EPS Surprise

CHESAPEAKE ENGY Price and EPS Surprise | CHESAPEAKE ENGY Quote

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