Has Prospect Capital (PSEC) Outpaced Other Finance Stocks This Year?
Earnings Beat: Headquartered in Oklahoma, Chesapeake Energy Corporation CHK reported adjusted first-quarter 2018 profit of 34 cents per share, beating the Zacks Consensus Estimate of 25 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last seven days.
Nonetheless, Chesapeake have an impressive earnings surprise history. The company delivered positive surprises in all prior four quarters, the positive earnings surprise being 22.4%.
Chesapeake Energy Corporation Price and EPS Surprise
Chesapeake Energy Corporation Price and EPS Surprise | Chesapeake Energy Corporation Quote
Revenue: Revenues of $1,243 million came below the Zacks Consensus Estimate of $1,297 million.
Price Change: The stock surged nearly 3% in pre-market trading following better-than-expected first quarter earnings.
Key Stats: Chesapeake’s production for the reported quarter was approximately 50 million barrels of oil equivalent (MMBoe), reflecting a year-over-year increase of 4.2%. Production consisted of approximately 8 million barrels (MMbbls) of oil (in line year-over-year), 222 billion cubic feet (bcf) of natural gas (up 5.2% year-over-year) and 5 MMbbls of NGL (in line year-over-year).
Oil equivalent realized price – excluding unrealized gains (losses) on derivatives – in the reported quarter was $27.31 per barrel of oil equivalent compared with $24.06 a year ago.
Zacks Rank: Currently, Chesapeake carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Chesapeake earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report
To read this article on Zacks.com click here.