Chesapeake Energy (CHK) closed the most recent trading day at $1.42, moving -0.7% from the previous trading session. This move lagged the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.05%.
Coming into today, shares of the natural gas company had gained 2.88% in the past month. In that same time, the Oils-Energy sector gained 8.54%, while the S&P 500 gained 3.85%.
Wall Street will be looking for positivity from CHK as it approaches its next earnings report date. On that day, CHK is projected to report earnings of -$0.07 per share, which would represent 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.26 per share and revenue of $4.84 billion, which would represent changes of -128.89% and -6.12%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CHK. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.93% lower. CHK is currently a Zacks Rank #3 (Hold).
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 38% 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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