Chesapeake Energy Corp. (CHK, $44.18), the largest independent U.S. natural gas producer, reported fourth-quarter net income of $303 million, falling from $471 million a year ago. After paying preferred stock dividends and including losses on the conversion of preferred stock, earnings fell to 33 cents a share from 96 cents a share. Excluding one-time items, the company earned $466 million, or 93 cents a share, from ongoing operations. Revenue rose 12% to $2.09 billion.
Analysts surveyed had predicted the company would earn 82 cents a share on $1.96 billion in revenue.
This has been a hot stock lately with the latest move in Natural Gas prices.
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