Chesapeake Energy (CHK) closed at $1.32 in the latest trading session, marking a -0.75% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.79%. Elsewhere, the Dow lost 1.86%, while the tech-heavy Nasdaq lost 1.56%.
Heading into today, shares of the natural gas company had lost 3.62% over the past month, lagging the Oils-Energy sector's gain of 3.09% and the S&P 500's gain of 0.72% 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 -$0.07 per share. This would mark a year-over-year decline of 136.84%. Our most recent consensus estimate is calling for quarterly revenue of $1.20 billion, up 0.11% from the year-ago period.
CHK's full-year Zacks Consensus Estimates are calling for earnings of -$0.26 per share and revenue of $4.84 billion. These results would represent year-over-year changes of -128.89% and -6.12%, respectively.
It is also important to note the recent changes to analyst estimates for CHK. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained stagnant. CHK is currently sporting a Zacks Rank of #3 (Hold).
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 174, putting it in the bottom 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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