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In the latest trading session, Chesapeake Energy (CHK) closed at $1.95, marking a -1.52% move from the previous day. This move lagged the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the natural gas company had lost 3.88% in the past month. In that same time, the Oils-Energy sector gained 0.64%, while the S&P 500 gained 4.13%.
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 -$0.02 per share. This would mark a year-over-year decline of 113.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.21 billion, up 22.99% from the year-ago period.
CHK's full-year Zacks Consensus Estimates are calling for earnings of -$0.06 per share and revenue of $4.89 billion. These results would represent year-over-year changes of -106.67% and -5.09%, respectively.
Investors might also notice recent changes to analyst estimates for CHK. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 11.54% higher. CHK currently has a Zacks Rank of #4 (Sell).
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 88, putting it in the top 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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