CHK's industry had an average PEG ratio of 0.23 as of yesterday's close.The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. This valuation marks a premium compared to its industry's average Forward P/E of 5.05.It is also worth noting that CHK currently has a PEG ratio of 0.93. Chesapeake Energy currently has a Zacks Rank of #1 (Strong Buy).Digging into valuation, Chesapeake Energy currently has a Forward P/E ratio of 5.8. The Zacks Consensus EPS estimate has moved 2.27% higher within the past month.

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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. These recent revisions tend to reflect the evolving nature of short-term business trends. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.83 billion, up 106.06% from the year-ago period.It is also important to note the recent changes to analyst estimates for Chesapeake Energy. This would mark year-over-year growth of 96.22%. In that report, analysts expect Chesapeake Energy to post earnings of $4.67 per share.

This has outpaced the Oils-Energy sector's of 0% and the S&P 500's loss of 3.51% in that time.Investors will be hoping for strength from Chesapeake Energy as it approaches its next earnings release.

Elsewhere, the Dow lost 1.15%, while the tech-heavy Nasdaq added 0.33%.Prior to today's trading, shares of the oil and gas company had gained 4.81% over the past month. This move was narrower than the S&P 500's daily loss of 1.03%. Chesapeake Energy (CHK) closed the most recent trading day at $101.65, moving -0.77% from the previous trading session.

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