Chesapeake Energy (CHK) closed at $0.67 in the latest trading session, marking a -1.23% move from the prior day. This change lagged the S&P 500's 0.15% loss on the day. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 0.24%.
Heading into today, shares of the natural gas company had lost 11.46% over the past month, lagging the Oils-Energy sector's gain of 4.51% and the S&P 500's gain of 3.88% in that time.
Wall Street will be looking for positivity from CHK as it approaches its next earnings report date. In that report, analysts expect CHK to post earnings of -$0.06 per share. This would mark a year-over-year decline of 128.57%. Meanwhile, our latest consensus estimate is calling for revenue of $1.26 billion, down 27.48% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for CHK. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.65% lower. CHK currently has a Zacks Rank of #4 (Sell).
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 58, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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