The upcoming report from Chord Energy Corporation (CHRD) is expected to reveal quarterly earnings of $1.17 per share, indicating a decline of 66.5% compared to the year-ago period. Analysts forecast revenues of $910.72 million, representing a decline of 37.4% year over year.
Over the last 30 days, there has been a downward revision of 12.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
That said, let's delve into the average estimates of some Chord Energy Corporation metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Total average daily production' will reach 275336 barrels of oil equivalent per day. Compared to the current estimate, the company reported 273500 barrels of oil equivalent per day in the same quarter of the previous year.
It is projected by analysts that the 'Production data - Oil' will reach 151386 barrels of oil per day. Compared to the current estimate, the company reported 153300 barrels of oil per day in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Production data - Natural gas' should arrive at 421250 thousands of cubic feet per day. Compared to the present estimate, the company reported 410500 thousands of cubic feet per day in the same quarter last year.
According to the collective judgment of analysts, 'Production data - NGL' should come in at N/A. Compared to the present estimate, the company reported N/A in the same quarter last year.
The collective assessment of analysts points to an estimated 'Average sales prices - Crude oil, without realized derivatives' of $57.29 . Compared to the current estimate, the company reported $68.79 in the same quarter of the previous year.
Analysts forecast 'Average sales prices - NGL, without realized derivatives' to reach $7.41 . Compared to the current estimate, the company reported $10.07 in the same quarter of the previous year.
View all Key Company Metrics for Chord Energy Corporation here>>>
Over the past month, Chord Energy Corporation shares have recorded returns of +9.7% versus the Zacks S&P 500 composite's -1% change. Based on its Zacks Rank #5 (Strong Sell), CHRD will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Chord Energy Corporation (CHRD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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