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Chesapeake Energy (CHK) Gains As Market Dips: What You Should Know
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In the latest trading session, Chesapeake Energy (CHK - Free Report) closed at $82.18, marking a +0.24% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.88%. At the same time, the Dow lost 0.73%, and the tech-heavy Nasdaq lost 4.59%.
Prior to today's trading, shares of the oil and gas company had lost 8.47% over the past month. This has lagged the Oils-Energy sector's gain of 2% and the S&P 500's gain of 5.83% in that time.
Chesapeake Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 21, 2023. The company is expected to report EPS of $2.96, up 23.85% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.52 billion, down 50.79% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Chesapeake Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 54.51% lower. Chesapeake Energy is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Chesapeake Energy has a Forward P/E ratio of 8.97 right now. For comparison, its industry has an average Forward P/E of 6.03, which means Chesapeake Energy is trading at a premium to the group.
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 245, putting it in the bottom 3% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Chesapeake Energy (CHK) Gains As Market Dips: What You Should Know
In the latest trading session, Chesapeake Energy (CHK - Free Report) closed at $82.18, marking a +0.24% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.88%. At the same time, the Dow lost 0.73%, and the tech-heavy Nasdaq lost 4.59%.
Prior to today's trading, shares of the oil and gas company had lost 8.47% over the past month. This has lagged the Oils-Energy sector's gain of 2% and the S&P 500's gain of 5.83% in that time.
Chesapeake Energy will be looking to display strength as it nears its next earnings release, which is expected to be February 21, 2023. The company is expected to report EPS of $2.96, up 23.85% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.52 billion, down 50.79% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Chesapeake Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 54.51% lower. Chesapeake Energy is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Chesapeake Energy has a Forward P/E ratio of 8.97 right now. For comparison, its industry has an average Forward P/E of 6.03, which means Chesapeake Energy is trading at a premium to the group.
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 245, putting it in the bottom 3% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.