Advertisement
Canada markets closed

  • S&P/TSX

    21,807.37
    +98.93 (+0.46%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CAD/USD

    0.7275
    +0.0012 (+0.16%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • Bitcoin CAD

    87,400.71
    +2,150.89 (+2.52%)
     

  • CMC Crypto 200

    1,363.94
    +51.31 (+3.91%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • RUSSELL 2000

    1,947.66
    +4.70 (+0.24%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • NASDAQ

    15,282.01
    -319.49 (-2.05%)
     

  • VOLATILITY

    18.71
    +0.71 (+3.94%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6824
    +0.0003 (+0.04%)
     

Is Chesapeake Energy (CHK) Stock Outpacing Its Oils-Energy Peers This Year?

Zacks Equity Research
·2 min read

For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Chesapeake Energy (CHK) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.

Chesapeake Energy is a member of the Oils-Energy sector. This group includes 256 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Chesapeake Energy is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for CHK's full-year earnings has moved 32.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

ADVERTISEMENT

Based on the most recent data, CHK has returned 40.2% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 32.4% on average. This shows that Chesapeake Energy is outperforming its peers so far this year.

CNX Resources Corporation. (CNX) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 44.6%.

In CNX Resources Corporation.'s case, the consensus EPS estimate for the current year increased 44.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Chesapeake Energy is a member of the Oil and Gas - Exploration and Production - United States industry, which includes 41 individual companies and currently sits at #4 in the Zacks Industry Rank. On average, this group has gained an average of 47.4% so far this year, meaning that CHK is slightly underperforming its industry in terms of year-to-date returns. CNX Resources Corporation. is also part of the same industry.

Investors interested in the Oils-Energy sector may want to keep a close eye on Chesapeake Energy and CNX Resources Corporation. as they attempt to continue their solid performance.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Chesapeake Energy Corporation (CHK) : Free Stock Analysis Report
 
CNX Resources Corporation. (CNX) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.