Chesapeake Energy posts lower quarterly profit

Chesapeake Energy Corp on Thursday reported lower quarterly profit as year-ago results were boosted by hedging gains.

The Oklahoma City, Oklahoma, company posted a profit of $257 million, or 39 cents per share, in the fourth quarter, compared with $429 million, or 63 cents per share, in the same period a year earlier.

(Editing by Jeffrey Benkoe)