Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Swift Energy (NYSE:SBOW) dropped 12% today, after the company released earnings.

So what: Fourth quarter revenue rose 1.8%, to $157.9 million, which was well ahead of the $149.8 million analysts expected. But despite the rise in revenue, earnings per share were only $0.26, which fell $0.03 short of estimates.  

Now what: Lower realized prices accounted for most of the drop in earnings, because production was up 15% from a year ago. Proved reserves were also up 20% from a year ago, so I wouldn't panic over the move today. The stock trades at less than nine times forward earnings and, with prices on the rise, earnings should pick up, as well.

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