|Bid||1.3800 x 42300|
|Ask||1.3900 x 317700|
|Day's Range||1.2900 - 1.3900|
|52 Week Range||1.2600 - 4.9800|
|Beta (3Y Monthly)||2.41|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.13|
Shares of Chesapeake Energy Corp. sank to a fresh 20-year low, pulled down by selloffs in crude oil prices and the broader stock market. The oil and gas company's stock fell 6.9%, putting it on track to close at the lowest level since April 12, 1999. Weighing on the stock, continuous crude oil futures dropped 4.4%, following data showing U.S. crude inventories increased for a second straight week. There was also concerns over demand for oil, as the drop in longer-term Treasury yields below yields on shorter-term Treasurys stoked recession fears. The selloff in Chesapeake's stock comes as the SPDR Energy Select Sector ETF lost 3.4%, enough to pace the SPDR ETFs that tracked the 11 key S&P 500 sectors, with all 29 components trading lower. Chesapeake's stock has now shed 47% over the past three months, while the energy sector ETF has declined 11% and the S&P 500 has edged up 0.7%.
US crude oil active futures fell 2.1% last week, the fourth straight weekly drop. US crude oil prices fell 4.7% on August 7 after the EIA inventory report.
Global equities are under renewed pressure after Friday when President Donald Trump threatened to pull out of further trade talks with China due to his frustration with their apparent lack of progress in buying United States agricultural products -- something Beijing allegedly promised during past meetings.Adding to the pressure was Trump's comments that the U.S. would not be doing business with major Chinese telecom giant Huawei.The pullback comes at a time of technical vulnerability for the market with the Dow Jones Industrial Average struggling to stay above its 200-day moving average. A breakdown here would put the June low below 25,000 in play which would be worth a loss of 6% from here. Energy stocks are among the industry groups showing the most weakness, despite ongoing tensions in the Persian Gulf, as traders account for the hit to prices as the global economy weakens.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks Under $7 to Invest in Now Here are four oil and gas stocks leading the way down: Stocks to Sell: Chesapeake Energy (CHK)Chesapeake Energy (NYSE:CHK) stock is focused on the exploration and development of natural gas properties in the U.S. The company runs operations in key shale gas areas including the Eagle Ford basin in Texas. However, things are not looking good for Chesapeake Energy stock. Shares of CHK stock remain below their 50-day moving average and have dropped below the low set in early 2016. This marks a loss of more than 50% from the highs set earlier this year. And, analysts at Raymond James recently downgraded shares.The company will next report results Oct. 29 before the bell. Analysts are looking for a loss of 6 cents per share on revenues of $1.2 billion. When the company last reported Aug.6, a loss of 10 cents per share missed estimates by 7 cents on a 5.1% rise in revenues. Transocean (RIG)Shares of deepwater drilling services provider Transocean (NYSE:RIG) stock are breaking down to fresh lows, making a waterfall decline of more than two-thirds from the high set late last year, as companies pull back on high-cost deepwater exploration. Shares were recently downgraded by analysts at Citigroup, adding to the company's woes. * 8 Dividend Aristocrat Stocks to Buy Now No Matter What RIG stock will next report results Oct. 28 after the close. Analysts are looking for a loss of 34 cents per share on revenues of $771.5 million. When the company last reported July 29, a loss of 34 cents per share matched estimates on a 4.1% decline in revenues. Halliburton (HAL)Shares of oilfield services provider Halliburton (NYSE:HAL) stock are breaking down to new lows, returning to levels not seen since 2010 to mark a decline of nearly two-thirds from the highs set early last year. This drop comes despite an upgrade by Cowen analysts, reflecting what they see as profitability potential. But bottom-line growth is hard to create when the top line is being compressed by lower energy prices.The company will next report results Oct. 21 before the bell. Analysts are looking for earnings of 37 cents per share on revenues of $5.9 billion. When the company last reported July 22, earnings of 35 cents per share beat estimates by 5 cents on a 3.5% decline in revenues. Exxon Mobil (XOM)Shares of Exxon Mobil (NYSE:XOM) stock are threatening to fall below their late-May lows to return to the trading range set back in December. Shares are already relegated to a range below their 50-day and 200-day moving averages since breaking down back in April. A recent upgrade from analysts at DZ Bank isn't giving any assistance to the share price.XOM stock will next report results Nov. 1 before the bell. Analysts are looking for earnings of 97 cents per share on revenues of $65.8 billion. When the company last reported Aug. 2, earnings of 61 cents per share missed estimates by 12 cents on a 6% decline in revenues.As of this writing, William Roth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Sell Right Now * 7 Stocks Under $7 to Invest in Now * 7 Marijuana Stocks With Critical Levels to Watch The post 4 Energy Stocks to Sell Before Next Earnings Reports appeared first on InvestorPlace.
The shale oil boom in the Powder River Basin was expected to be the next best thing to the Permian, but lower crude prices and high breakeven prices make life difficult for drillers
Shares of Chesapeake Energy Corp. sank Wednesday to the lowest price in decades, as oil prices fell just after the oil and gas company said in its second-quarter earnings report that it was shifting its focus to oil over gas.
Interest rates act as a driver (or sometimes a detriment) to the performance of a stock. On July 31, the Fed cut interest rates for the first time since the financial crisis. However, those looking for cheap stocks to buy faced only disappointment, at least for now. Interestingly, the rate cut didn't lead to stock buying, but a stock selloff in Wednesday trading.Despite that short-term reaction, the first rate cut since the financial crisis should lower interest costs across the board. Also, depending on a company's offering, lower rates can change the value proposition on many products. Further, this will likely improve corporate balance sheets, many which hold dangerous levels of debt. * 10 Stocks to Buy on the Trade War Dip As a result of debt, many equities have become cheap stocks to buy. With lower interest costs, some could gain the catalyst necessary to send stock prices higher. These five stocks to buy could see such gains.InvestorPlace - Stock Market News, Stock Advice & Trading Tips AT&T (T)Source: Shutterstock AT&T (NYSE:T) has become one of the cheap stocks to buy that is safe and dangerous at the same time. The company owns one of three nationwide 5G networks. Several of the latest technological advances such as artificial intelligence (AI), virtual reality (VR), and the Internet of Things (IoT) will not advance as quickly as 5G. This will put AT&T along with Verizon (NYSE:VZ) and T-Mobile (NASDAQ:TMUS)However, unlike its peers, T also invested heavily in a content strategy through ownership of DirecTV and WarnerMedia. The content strategy helped to leave AT&T with the largest long-term debt load among its peers. These obligations stood at almost $164 billion as of the end of the first quarter. That leaves debt levels nearly as high as the company book value of just over $185.1 billion.However, lower rates can help lower interest costs, thus increasing their profit. It also makes capital more accessible as it continues to spend on 5G buildouts.Further, the company maintains a 34-year streak of dividend increases. Despite a yield of around 6%, ending the streak would devastate T stock despite a modest 9.3 forward price-to-earnings (PE) ratio. The lower borrowing costs ease the burden of this dividend. A lower debt burden could lead to more buying of AT&T as investors begin again to believe in the company. Caterpillar (CAT)Source: Shutterstock Real estate gets a lot of attention after a rate cut, but often forgotten are stocks like Caterpillar (NYSE:CAT), whose equipment plays a crucial role in building construction. Nonetheless, Caterpillar has not only suffered from slowing real estate sales, but the uncertainty brought about by the U.S.-China trade war. Moreover, CAT stock actually dropped after the Fed announced its interest rate cut.Before earnings, I warned investors that CAT stock only made sense for dividend-oriented investors. Shareholders have long benefited from a rising dividend, and nothing on the horizon looks like a threat to this payout.However, the lower price makes it an even better buy for income-focused investors. Thanks to the lower share price, CAT stock now yields 3.25%.Also, I mentioned that CAT had recovered from the $120 per share level three times. This current pullback has taken it to about $124 per share as of the time of this writing. That could indicate a limited downside. * 10 Generation Z Stocks to Buy Long Further, I list CAT as one of the cheap stocks to buy by virtue of the forward PE ratio which has fallen below 10. Even with lowered guidance, analysts expect 5.3% profit growth. Even if the stock took time to recover, investors would collect a generous dividend while they wait. If the rate cut helps it bounce off the $120 per share price flow, it could make CAT stock an income and growth play again. Chesapeake Energy (CHK)Source: Shutterstock Chesapeake Energy (NYSE:CHK) stock is among the cheap stocks to buy for a very good reason. The company maintains a market cap of around $2.7 billion even as it faces debt levels that stood at about $9.17 billion at the end of the first quarter. This debt rose when it purchased Wildhorse Resource Development so the natural gas company could increase its exposure to oil.Such debt levels make it a risky play. However, the company had returned to profitability before acquiring Wildhorse. The ability to refinance some of this debt at lower rates should ease the burden.Moreover, rising demand for oil should mean that Chesapeake can sell its oil and natural gas at higher prices, thus increasing profits. Furthermore, Chesapeake has steadily sold off assets to pay some of the debt off. Higher energy prices also make those properties easier to sell.Lower debt costs also provide lower borrowing costs for an industry CHK stock needs to drive its future, the natural gas export industry. Lower rates should facilitate the construction of planned natural gas facilities, thus further enabling Chesapeake to sell its product in Europe and Asia where natural gas sells for higher prices.Despite improving prospects, investors should still treat CHK stock as a speculative play. However, the odds of paying off debt and earnings profits dramatically increase in an environment of lower rates. Lennar Corporation (LEN)Source: Shutterstock Lennar (NYSE:LEN) brought in more revenue than its peers last year. However, its industry has begun to suffer as home sales have become flat. Interest rates have long served as an essential component of the real estate industry. These flat real estate prices likely helped influence the rate cut.Still, lower interest rates put home affordability within reach, and this should help sales and LEN stock. Due to the slower market in 2019, analysts forecast a 2% drop in profits for this year. However, they expect that growth will reach 8.8% this year. They also predict earnings increases averaging 9.45% per year over the next five years.With a forward PE ratio of around 8.2, we can easily classify LEN as one of the cheap stocks to buy in this industry. Further, with profit growth poised to reach almost 10% per year, such a valuation might give investors a reason to buy. * 8 of the Most Shorted Stocks in the Markets Right Now LEN stock currently trades at around $49 per share. The home-buying spree in both the current and the last decade took Lennar above $60 per share before it fell back. It may take more than one interest rate cut for LEN to finally achieve a new all-time high. However, with profit growth set to resume, LEN stock looks set to return to historic highs. Newmont Goldcorp Corporation (NEM)Source: Shutterstock Early this year, Newmont Mining merged with Goldcorp to form Newmont Goldcorp (NYSE:NEM). The company suffered for years as falling gold prices sent NEM stock tumbling early in the decade. Today, it trades at a little bit more than half of its 2011 peak.However, gold prices have sustained themselves above the $1,400 per oz. in recent weeks as falling market interest rates and a rate cut have propelled investors back into gold. At just above $1,440 per oz., gold trades as its highest level since 2013.Currently, NEM stock trades at about 22.6 times forward earnings. That may not make it one of the more ideal cheap stocks to buy. An 8.2% profit decline expected for the year also does not help. However, analysts expect the benefits of higher gold prices to show up in profit forecasts soon. For 2020, Wall Street predicts that earnings will increase by 44.7%.The effects have yet to reach NEM stock. NEM has traded in a range since 2016. At $37 per share, it sells well above the $29-plus per share lows seen in this range. The critical points come at its 52-week high of $40.33 per share and its 2016 high of $46.27 per share. If it can break through both highs, Newmont Goldcorp could begin to enjoy the multi-year highs now bolstering the price of gold.As of this writing, Will Healy is long CHK stock. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy on the Trade War Dip * The 5 Highest-Rated Dow Stocks Right Now * 4 Cybersecurity Stocks to Buy for Long-Term Gains The post 5 Cheap Stocks to Buy Now That the Fed Cut Rates appeared first on InvestorPlace.
[Editor's note: This story was previously published in April 2019. It has since been updated and republished.]Slow and steady wins the race, as the old adage goes. But slow and steady can be a bit boring. Investors looking for stocks to buy, as a rule, should focus on high-quality, and preferably, lower-risk issues.Still, there's room in any investor's portfolio for higher-risk, higher-reward plays -- as long as those risks are understood.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn that vein, here are 10 stocks to buy that offer potentially significant rewards … and almost as much risk. None of these stocks should be a core part of a portfolio, and all have the potential to blow up in your face. * 10 Stocks to Buy on the Trade War Dip But taking those risks also creates the possibility of a major reward. It's likely at least a few of these stocks will wind up big winners going forward. Teva Pharmaceutical (TEVA)Teva Pharmaceutical (NYSE:TEVA) isn't having a great year, down more than 57%.Teva has too much debt and too little growth. Its key drug, Copaxone, which treats multiple sclerosis, is facing generic competition from Mylan (NASDAQ:MYL), among others.Bankruptcy likely isn't a near-term scenario but the current trajectory suggests it could occur down the line. In short, TEVA is a classic contrarian, "buy when there's blood in the streets" type of play. And there are reasons TEVA is one of these great (if risky) stocks to buy.While pressure has persisted on generic drugs, but it won't last forever.The company has sold assets to clean up its balance sheet, which has de-risked the story somewhat. In my opinion, Teva is a better version of Valeant, but with an easier path back to normalcy.It's a risky path, but if it works TEVA could gain another 20%-plus simply by reaching a higher multiple and removing bankruptcy fears. Scientific Games Corp (SGMS)The story already has played out somewhat at Scientific Games (NASDAQ:SGMS), which is up 14.23% so far this year. But the growth story isn't necessarily over.Source: Shutterstock Only a few years ago, Scientific Games was a sleepy, low-growth provider of lottery tickets and terminals. But that changed in quick succession.SciGames acquired slot machine manufacturers WMS Industries and Bally Technologies, the latter coming only months after Bally bought equipment maker and gaming table designer Shuffle Master. Scientific Games became the dominant supplier to the casino industry worldwide: a "one-stop shop" for casino floors.It also became one of the most indebted companies in the U.S. markets and still is. The combination of that debt and careful cost controls at casinos, particularly in the U.S., kept SGMS stock below $20 to start the year. * 10 Cyclical Stocks to Buy (or Sell) Now But it now looks like the long-awaited "replacement cycle" of slot machines is arriving and that could be hugely beneficial for Scientific Games and its smaller, similar rival Everi Holdings Inc (NYSE:EVRI). And considering how much leverage is still on the balance sheet, there's a case for SGMS to clear $100 -- yes, $100 -- if profit growth accelerates.That's not a guarantee, obviously, but it's the nature of highly indebted companies. Leverage is a weight when those companies struggle, and it's a springboard when they grow. Chesapeake Energy (CHK)In the case of Chesapeake Energy Corporation (NYSE:CHK), leverage has been a weight. After optimism about stable energy prices and Chesapeake's improved balance sheet boosted CHK stock in 2017, it was nothing but downhill in 2018.Source: Shutterstock CHK now trades down more than 68% since the beginning of the year and just bounced off multi-year lows.I think CHK is the best, if riskiest, of the stocks to buy on higher energy prices.It's also worth pointing out that Chesapeake bonds actually have been rather stable so far this year. Efficiency improvements at the wellhead have lowered costs as well.Chesapeake is a risky play, but the combination of debt on the balance sheet and leverage from higher energy prices mean that with a couple of changes, CHK could soar. Splunk (SPLK)Splunk (NASDAQ:SPLK), on the other hand, isn't the cheapest stock in its space or anywhere else. The high-flying "operational intelligence" software provider trades up nearly 30% since the beginning of the year alone.Source: Web Summit Via FlickrThe valuation alone shows the risk in SPLK, which has pulled back from brief early-2014 highs above $100. But since that pullback, SPLK stock actually has been rather stable, as investors give the company time to grow into its valuation.Meanwhile, Splunk continues to be a likely acquisition target, with Cisco (NASDAQ:CSCO) cited as a potential buyer in June and International Business Machines (NYSE:IBM) long thought to be a logical acquirer. * 10 Generation Z Stocks to Buy Long Splunk is a classic growth stock in that it, too, is high-risk and high-reward. But it looks like one of the better growth stocks to buy in what might be an over-aggressive market at the moment. Ship Finance International (SFL)The shipping space generally has been a "Bermuda Triangle" for investor capital, but Ship Finance International (NYSE:SFL) might be the exception to the rule.Source: Shutterstock There's likely to be some near-term volatility and Ship Finance's dividend, which currently yields 11%, could be at risk, but it's still one of those great stocks to buy if you can handle the risk.But this also remains one of the best plays in shipping, available for a modest premium to book value and at low-teens multiple to earnings. The industry alone, and a heavily leveraged balance sheet, both show the risk.But if Ship Finance can make it through some choppy waters over the next few months, there's likely a nice return for shareholders on the other side. GW Pharmaceuticals (GWPH)There's no sector of the market more boom-and-bust than biotech and drug development. GW Pharmaceuticals (NASDAQ:GWPH) doubles down on that volatility by developing its drugs from marijuana.But GW Pharmaceuticals isn't one of those fly-by-night penny stocks to buy based on legalized weed. Which is why it popped on its Q2 marijuana-based sales. It's a $2.6 billion pharmaceutical company with a legitimate lead product candidate in Epidiolex, aimed to treat Dravet Syndrome and Lennox-Gastaut Syndrome.Sativex, used to treat multiple sclerosis spasticity, already is on the market. And another compound has potential uses to fight epilepsy and treat autism spectrum disorders. * 8 of the Most Shorted Stocks in the Markets Right Now Like most drug development plays, GWPH is high-risk. But there's a reason for investors to hold long-term optimism toward the company's pipeline. Success in getting those drugs to market likely would make GWPH an acquisition target at some point suggesting a significant upside from current levels. If it happens, analysts see GWPH stock surging near 30%.That in turn, would suggest likely significant upside from current levels for GWPH stock. Canadian Solar (CSIQ)Considering that solar power actually is gaining an increasing share of the U.S. market, in particular, it's surprising that solar stocks including Canadian Solar (NASDAQ:CSIQ) actually haven't done all that well.Source: Shutterstock SolarCity had to be rescued by Tesla (NASDAQ:TSLA). First Solar (NASDAQ:FSLR) is down from multi-year highs despite the recent strength.There are risks for CSIQ, in particular. "Commoditization" and price pressure could hit margins. Still, demand for CSIQ equipment is growing, the stock isn't terribly highly valued, and it's lagged of late while FSLR, in particular, has risen.Solar stocks are likely to stay choppy for a while, but CSIQ should have some room to run if it can get through the second half of the year. Superior Industries International (SUP)Superior Industries International (NYSE:SUP) is on the move again. Shipments of the company's aluminum wheels hit a record last year and it's starting to pay off.Source: Helgi Halldorsson via FlickrAuto parts stocks as a whole have had trouble, driven by "peak auto" concerns in the space. Superior itself has had a couple of missteps that impacted margins, and profits. And with SUP one of the more indebted companies in the sector, both factors have had an amplified impact on Superior's share price.But there's a reason to see a reversal as well, which is what makes SUP one of the smart stocks to buy. Near-term auto sales may be coming down, particularly in the U.S. * 7 A-Rated Stocks Under $10 Last year's acquisition of European supplier UNIWHEELS improved Superior's position overseas. And there is room to improve execution, and hopefully, margins, going forward.SUP does have potential downside risk, particularly if global macro concerns arise, pressuring auto sales and dropping SUP earnings further. But for contrarians who think the auto parts selloff is overdone, SUP is one of the more intriguing plays. Chegg (CHGG)Chegg (NYSE:CHGG) is another of the growth stocks to buy with a high valuation and a big opportunity.Source: Rob Wall via Flickr (Modified)The company began as an online textbook rental company. But it wound up outsourcing that business to another provider and since has focused on becoming the dominant digital platform for U.S. college students.And Chegg is having some success. Revenues are growing and adjusted EBITDA has turned positive after years of losses. The company's tutors and study services businesses are growing rapidly, and it's becoming a fixture in the college landscape.There are risks here beyond valuation. Like so many companies, Amazon is a potential competitor down the line, given its efforts to offer free Prime services to college students. But at this point, it might simply be easier for Amazon to buy Chegg, rather than expend the resources to try and fight it.With each passing quarter, Chegg gets more and more entrenched. And that only serves to strengthen the bull case for CHGG stock.As of this writing, Vince Martin did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Cheap Stocks That Are Leading the Blue Chips * 7 Straight-A Stocks to Build a Portfolio Around * Forget the FANGs -- Buy These 5 Tech Stocks Instead The post 9 High-Risk Stocks to Buy for Massive Rewards appeared first on InvestorPlace.
After a nasty four-day rout, the sellers finally gave long-term investors a break. The S&P 500 was up 1.3% on Tuesday, wiping away a small fraction of what has been recently lost.Source: Shutterstock Still, it's far from assurance that the reversal effort is going to get traction.Disney (NYSE:DIS) carried more than its fair share of the weight during the session, up more than 2% headed into its post-close earnings report. An earnings and revenue miss, however, sent DIS stock more than 3% lower in after-hours action. It's poised to start today in the hole. Ford (NYSE:F) jumped 2.7% yesterday in response to an upgrade from Morgan Stanley, and was able to hold onto that gain.InvestorPlace - Stock Market News, Stock Advice & Trading TipsKeeping the market's gain in check more than any other name on Tuesday was Chesapeake Energy (NYSE:CHK). Shares of the natural gas company tumbled nearly 11% to a 20-year low after reporting a loss for its recently completed quarter. * 10 Stocks to Buy on the Trade War Dip None are compelling prospects moving into the midpoint of this week, however. Rather, it's the stock charts of Dish Network (NASDAQ:DISH), Cardinal Health (NYSE:CAH) and Global Payments (NYSE:GPN) that merit the closest looks. Global Payments (GPN)Headed into July, it was impossible to argue that Global Payments shares weren't overbought and ripe for profit-taking. The weekly chart's RSI indicator hadn't been overbought as high as it was since the beginning of 2018, and hadn't been this overbought for as along as it had been in many, many years.The weight of that big gain since the beginning of the year finally become unbearable last week, when marketwide selling finally knocked GPN stock off of its perch as well. A couple of key support levels were broken as a result. Even so, the most important floor here remains intact. * Click to EnlargeThat crucial floor is the 100-day moving average line, marked in gray on both stock charts. The bleeding stopped there on Monday, and the sellers didn't even test it on Tuesday. * Although the 100-day average is still intact as support, the purple 50-day moving average line isn't. Neither are either of the straight-line support lines that kept Global Payments going higher since early this year. * If the 100-day moving average line does fail to keep the stock propped up, the Fibonacci retracement line near $143 and then the 200-day moving average line plotted in white become the next most-likely floors. Cardinal Health (CAH)Cardinal Health shares have been fighting a losing battle since 2015, partially because it's in the wrong business at the wrong time, and partly because it's dealing with some company-specific challenges.Although it's still logging lower highs, the failure to make lower lows since late-2018 offered a glimmer of hope that the selling may finally be coming to a close and a new uptrend could be close to taking shape. As of Tuesday's close though, CAH stock is one more bearish day from slipping back into a bearish paradigm. * 7 Stocks the Insiders Are Buying on Sale * Click to EnlargeThe make-or-break level is right around $42, marked in yellow on both stock charts. Yesterday was the third day that area acted as a floor. * Adding bearish fuel to the fire is the repeated resistance seen at the 200-day moving average line plotted in white on both stock charts. The two most recent instances are highlighted on the daily chart. * Should the floor at $42 break, the next most-likely floor is the line that connects all the key lows going back to 2015. Currently near $38, it's marked in red on the weekly chart. Dish Network (DISH)Finally, back on July 25 I pointed out that Dish Network had just logged a telling bar. That is, on July 24, DISH stock formed an "outside day," where that day's range completely engulfed the previous day's high/low range just with the open and close on the 25. It's a strong clue that a major swing in sentiment had just materialized.As scripted, the bears sank their teeth into Dish Network that same day, dragging the stock lower through Monday of this week … with some help from the market. Regardless of the context or reason though, on Tuesday we started to see subtle signs that the bears are done, and are now yielding to the bulls. * Click to EnlargeOne of those signs is of course Tuesday's gain, as part of a hammer-shaped bar. The open and close near the high of a fairly tall bar indicates a transition from a net-selling to a net-buying environment. * The volume bars also point to an end to the bearish pressure and the beginning of a bullish tide. The volume was falling all the way down, but was up a bit again on Tuesday when DISH stock was rising. * Curiously, the low from Tuesday, and what may be the absolute low for this pullback, aligns with the low $30.90, plotted in yellow, from May that took shape right in front of a rather big rally.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cyclical Stocks to Buy (or Sell) Now * 7 Biotech ETFs That Should Remain Healthy * 7 of the Hottest AI Stocks to Buy Now The post 3 Big Stock Charts for Wednesday: Cardinal Health, Dish Network and Global Payments appeared first on InvestorPlace.
Shares of Chesapeake Energy Corp. swung to a sharp loss in very active morning trading Tuesday, putting them on track for a 20-year closing low, in the wake of the oil and gas company's wider-than-expected second-quarter loss. The stock tumbled 9.9%, erasing a gain of as much as 6.4% just after the open, to trade at the lowest price seen since April 1999. Volume of 31 million shares makes the stock the most actively traded on major U.S. exchanges. The company reported that it swung to net income in the second quarter, but also adjusted loss per share of 10 cents a share, which was wider than the FactSet consensus of a loss of 6 cents a share. SunTrust Robinson Humphrey analyst Neal Dingmann said, despite "solid" 2019 guidance and reduced liquidity concerns following a refinancing, he remains worried about the more than $10 billion worth of debt and continued cash flow outspend. The stock has plunged 51.4% over the past three months, while the SPDR Energy Select Sector ETF has shed 9.4% and the S&P 500 has slipped 2.4%.
Chesapeake (CHK) delivered earnings and revenue surprises of -42.86% and 25.03%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Shares of Chesapeake Energy Corp. surged 3.9% in premarket trading Tuesday, to bounce off a 20-year low in the previous session, after the oil and gas company reported a wider-than-expected loss but revenue that rose above analyst forecasts. The company swung to net income of $75 million, or 5 cents a share, from a loss of $272 million, or 30 cents a share, in the year-earlier period. Excluding non-recurring items, the adjusted loss was 10 cents a share, compared with the FactSet loss consensus of 6 cents a share. Total revenue rose to $2.39 billion from $2.29 billion, to top the FactSet consensus of $2.37 billion, as oil and gas revenue grew to $1.45 billion from $982 million to beat expectations of $1.24 billion. Average daily production declined to 496,000 barrels of oil equivalent (boe) from 530,000 boe. Chief Executive Doug Lawler said the company was raising the midpoint of its full-year oil production guidance by about 250,000 barrels. The stock, which closed Monday at the lowest level since April 1999, has tumbled 46.0% over the past three months, while the SPDR Energy Select Sector ETF has lost 8.9% and the S&P 500 has declined 3.0%.
Chesapeake Energy Corp posted a bigger-than-expected quarterly loss on Tuesday, hurt by lower production and natural gas prices, as well as higher production costs. Average realized price for its natural gas fell 6.1% in the second quarter, while production cost per barrel of oil equivalent (boe) jumped 28.7%. Production fell to 496,000 barrels of oil equivalent per day (boepd) from 530,000 boepd.
OKLAHOMA CITY , Aug. 6, 2019 /PRNewswire/ -- Chesapeake Energy Corporation (NYSE:CHK) today reported financial and operational results for the 2019 second quarter. Highlights include: Increasing Oil Production, ...
The South Texas Drilling Permit Roundup is a weekly review of new drilling permit applications filed with the Railroad Commission of Texas for a 67-county area of South Texas.