Shares of Chesapeake Energy Corp. ran up 2.7% in premarket trade Wednesday, after the oil and gas company reported first-quarter earnings that beat expectations, with SunTrust Robinson Humphrey analyst Neal Dingmann upbeat about higher pricing and gas production. He reiterated his buy rating, which he's had on the stock since July 2015, and kept his price target at $6, which is more than double Tuesday's closing price of $2.98. Dingmann said what was notable is that Chesapeake produced free cash flow of nearly $90 million, "exclusively from operations," and the company's continued progress on debt reduction. The company had said its principal debt balance as of March 31 was $9.40 billion, down from $9.81 billion as of Dec. 31.