CHK...reported good eanings
Earnings: Chesapeake reported adjusted first-quarter 2017 profit of 23 cents per share, beating the Zacks Consensus Estimate of 19 cents.
Revenue: Revenues of $1,469 million came above the Zacks Consensus Estimate of $1,104 million.
" We expect our production to grow significantly in the second half of 2017 as we place more wells to sales, and as a result, we have raised the bottom range of our 2017 production guidance," said Chief Executive Doug Lawler. The stock had tumbled 21% year to date through Wednesday, while the SPDR Energy Select Sector ETF XLE, -1.56% had lost 10% and the S&P 500 SPX, +0.05% had rallied 6.7%.
Chesapeake's shares are traded up about 2% on Thursday's premarket to $5.64. Chesapeake’s stock closed up about 4% on Wednesday, at $5.54 in a 52-week range of $3.56 to $8.20. The consensus target price for the shares was $7.17 before this report. The highest price target prior was $11 a share.
60 minute needs to do some work here and daily along with USO and XLE need to start looking like they want UP...
RISK starts below $5.10 with good support $5...patience
Daily...
Earnings: Chesapeake reported adjusted first-quarter 2017 profit of 23 cents per share, beating the Zacks Consensus Estimate of 19 cents.
Revenue: Revenues of $1,469 million came above the Zacks Consensus Estimate of $1,104 million.
" We expect our production to grow significantly in the second half of 2017 as we place more wells to sales, and as a result, we have raised the bottom range of our 2017 production guidance," said Chief Executive Doug Lawler. The stock had tumbled 21% year to date through Wednesday, while the SPDR Energy Select Sector ETF XLE, -1.56% had lost 10% and the S&P 500 SPX, +0.05% had rallied 6.7%.
Chesapeake's shares are traded up about 2% on Thursday's premarket to $5.64. Chesapeake’s stock closed up about 4% on Wednesday, at $5.54 in a 52-week range of $3.56 to $8.20. The consensus target price for the shares was $7.17 before this report. The highest price target prior was $11 a share.
60 minute needs to do some work here and daily along with USO and XLE need to start looking like they want UP...
RISK starts below $5.10 with good support $5...patience
Daily...
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
