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The Zacks Analyst Blog Highlights Schlumberger, Halliburton and Chesapeake Energy
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For Immediate Release
Chicago, IL – October 20, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Schlumberger Ltd. (SLB - Free Report) , Halliburton Co. (HAL - Free Report) and Chesapeake Energy Corp. (CHK - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
3 Energy Stocks Poised to Outshine Earnings Estimates in Q3
We are now at the beginning of the third-quarter earnings, with all the major oil companies yet to report results. As the pricing scenario was healthier year over year, better-than-expected results are expected from most of the energy players like Schlumberger Ltd., Halliburton Co. and Chesapeake Energy Corp.
Favorable Q3 Oil Price
Per data provided by the U.S. Energy Information Administration (“EIA”), the average West Texas Intermediate crude prices in July, August and September were recorded at $101.62 per barrel, $93.67 per barrel and $84.26 per barrel, respectively. In comparison, in the year-ago respective months, average oil prices were reported at $72.49 per barrel, $67.73 per barrel and $71.65 per barrel, per the EIA’s data.
Higher oil prices were favorable for exploration and production activities and convinced more explorers and producers to return to oil patches. The pricing scenario of natural gas was also healthy, depicting that the upstream business was lucrative in the third quarter.
Per the Zacks Earnings Trends, the energy sector’s quarterly earnings will be $58.5 billion, significantly higher than $17.9 billion in the third quarter of 2021.
How to Pick the Right Stocks?
Given the backdrop and amid a large number of energy stocks, it is by no means an easy task for investors to arrive at picks that have the potential to deliver better-than-expected earnings.
While there is no fool-proof method of picking outperformers, our proprietary methodology — the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — helps identify stocks that have high chances of delivering a positive surprise in their upcoming earnings announcement. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as high as 70%
The Earnings ESP shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Our Choices
Schlumberger Ltd. is a leading oilfield service provider. Higher oil and gas prices are likely to have aided SLB’s bottom line in the third quarter.
Schlumberger has an Earnings ESP of +0.23% and currently carries a Zacks Rank #2. It is scheduled to release earnings on Oct 21, before the opening bell.
Chesapeake Energy Corp. has a leading position in prolific oil and gas plays in the United States, comprising Marcellus, Haynesville and Eagle Ford shale plays.
The explorer has an Earnings ESP of +0.85% and holds a Zacks Rank #2, currently. Chesapeake is slated to release earnings on Nov 1.
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Schlumberger, Halliburton and Chesapeake Energy
For Immediate Release
Chicago, IL – October 20, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Schlumberger Ltd. (SLB - Free Report) , Halliburton Co. (HAL - Free Report) and Chesapeake Energy Corp. (CHK - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
3 Energy Stocks Poised to Outshine Earnings Estimates in Q3
We are now at the beginning of the third-quarter earnings, with all the major oil companies yet to report results. As the pricing scenario was healthier year over year, better-than-expected results are expected from most of the energy players like Schlumberger Ltd., Halliburton Co. and Chesapeake Energy Corp.
Favorable Q3 Oil Price
Per data provided by the U.S. Energy Information Administration (“EIA”), the average West Texas Intermediate crude prices in July, August and September were recorded at $101.62 per barrel, $93.67 per barrel and $84.26 per barrel, respectively. In comparison, in the year-ago respective months, average oil prices were reported at $72.49 per barrel, $67.73 per barrel and $71.65 per barrel, per the EIA’s data.
Higher oil prices were favorable for exploration and production activities and convinced more explorers and producers to return to oil patches. The pricing scenario of natural gas was also healthy, depicting that the upstream business was lucrative in the third quarter.
Per the Zacks Earnings Trends, the energy sector’s quarterly earnings will be $58.5 billion, significantly higher than $17.9 billion in the third quarter of 2021.
How to Pick the Right Stocks?
Given the backdrop and amid a large number of energy stocks, it is by no means an easy task for investors to arrive at picks that have the potential to deliver better-than-expected earnings.
While there is no fool-proof method of picking outperformers, our proprietary methodology — the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — helps identify stocks that have high chances of delivering a positive surprise in their upcoming earnings announcement. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as high as 70%
The Earnings ESP shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Our Choices
Schlumberger Ltd. is a leading oilfield service provider. Higher oil and gas prices are likely to have aided SLB’s bottom line in the third quarter.
Schlumberger has an Earnings ESP of +0.23% and currently carries a Zacks Rank #2. It is scheduled to release earnings on Oct 21, before the opening bell.
Schlumberger Limited price-eps-surprise | Schlumberger Limited Quote
Halliburton Co. is also a well-known name in the oilfield service space, favored by handsome upstream activities.
Halliburton has an Earnings ESP of +1.54% and carries a Zacks Rank of 2, at present. It is set to release earnings on Oct 25.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Halliburton Company price-eps-surprise | Halliburton Company Quote
Chesapeake Energy Corp. has a leading position in prolific oil and gas plays in the United States, comprising Marcellus, Haynesville and Eagle Ford shale plays.
The explorer has an Earnings ESP of +0.85% and holds a Zacks Rank #2, currently. Chesapeake is slated to release earnings on Nov 1.
Chesapeake Energy Corporation price-eps-surprise | Chesapeake Energy Corporation Quote
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Why Haven’t You Looked at Zacks' Top Stocks?
Our 5 best-performing strategies have blown away the S&P's impressive +28.8% gain in 2021. Amazingly, they soared +40.3%, +48.2%, +67.6%, +94.4%, and +95.3%. Today you can access their live picks without cost or obligation.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.