The upcoming report from Chord Energy Corporation (CHRD) is expected to reveal quarterly earnings of $2.75 per share, indicating a decline of 47.6% compared to the year-ago period. Analysts forecast revenues of $1.1 billion, representing an increase of 14.4% year over year.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Chord Energy Corporation metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Total average daily production' to reach 267,783.90 BOE/D. Compared to the present estimate, the company reported 183,800 BOE/D in the same quarter last year.
The combined assessment of analysts suggests that 'Production data - Oil' will likely reach 152,379.00 BBL/D. Compared to the current estimate, the company reported 106,200 BBL/D in the same quarter of the previous year.
The consensus estimate for 'Production data - NGL' stands at 47,643.91 Bbls. The estimate is in contrast to the year-ago figure of 38,100 Bbls.
Based on the collective assessment of analysts, 'Production data - Natural gas' should arrive at 406,500.60 Mcf/D. The estimate is in contrast to the year-ago figure of 236,500 Mcf/D.
The consensus among analysts is that 'Average sales prices - Crude oil, without derivative settlements' will reach $68.49. Compared to the current estimate, the company reported $77.88 in the same quarter of the previous year.
View all Key Company Metrics for Chord Energy Corporation here>>>
Chord Energy Corporation shares have witnessed a change of -4.9% in the past month, in contrast to the Zacks S&P 500 composite's -0.5% move. With a Zacks Rank #3 (Hold), CHRD is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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