NEW YORK, NY / ACCESSWIRE / May 5, 2017 / Chesapeake was the biggest loser on the S&P 500 yesterday despite a great earnings report for the first quarter. As global oil prices sank, so did Chesapeake. Denbury Resources also saw shares drop but this can be blamed on the company missing forecasts in its first quarter earnings report.

RDI Initiates Coverage on:

Denbury Resources Inc.
https://ub.rdinvesting.com/news/?ticker=DNR

Chesapeake Energy Corporation
https://ub.rdinvesting.com/news/?ticker=CHK

Denbury Resources Inc. shares closed down 12.56% on Thursday and even hit a new 52-week low of $1.72 during intra-day trading. Investors weren't too happy with the company's first quarter report. The company reported net income of $21.5 million and posted losses of 2 cents per share, adjusted for non-recurring gains. This was one penny shy of the 1 cent expectation that the Street had. Revenue came in at $275.5 million for the period. The company saw 59,933 barrels of oil equivalent per day in the first quarter with 97% of production being oil, and with tertiary properties accounting for 62% of overall production. Looking ahead, CEO Phil Rykhoek, commented, "We believe we are close to arresting the decline in our production and are now moving into a period of stable to growing production."

Access RDI's Denbury Research Report at:
https://ub.rdinvesting.com/news/?ticker=DNR

Chesapeake Energy Corporation shares closed down 7.40% on Thursday despite an awesome quarterly report. The company reported sales of $2.75 billion for the quarter which was way ahead of the $2.32 billion that Wall Street had expected. Last year in the first quarter, the energy company had lost $1.66 per share, but saw $0.08 in net income per diluted share in the quarter this year. Even more impressively, the company posted an "adjusted income per share" of $0.23, which was way ahead of the $0.19 that analysts had expected. So why the drop? Global oil prices took a drop and the company suffered with them. CEO Doug Lawler said, "We remain focused on improving our balance sheet and decreasing our cash costs, while improving the capital efficiency from our operations. We look forward to reporting our results as the year progresses."

Access RDI's Chesapeake Research Report at:
https://ub.rdinvesting.com/news/?ticker=CHK

Our Actionable Research on Denbury Resources Inc. (NYSE: DNR) and Chesapeake Energy Corporation (NYSE: CHK) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com