For investors on the look out for opportunities, Chesapeake Energy Corporation (NYSE:CHK) might be an interesting stock to consider.

The security sits in the Oil & Gas – US Exploration & Production space, and is subject to earnings estimate revision activity. According to the Zacks Industry Rank, it is a strong candidate.

Chesapeake Energy

Chesapeake Energy looks good in a strong segment

The ranking is important because we often see a rising tide lifting every company in a certain industry. This is because broad trends in a particular area can lead to better performance from all of the securities in a certain segment.

This may well be what is happening Oil & Gas – US Exploration & Production space, given the fact that it is currently ranked number 73 out of over 250 industries on the Zacks Industry Rank. This would suggest that the segment is a strong one, particularly compared to others.

At the same time Chesapeake Energy is doing well of its own accord. Over the course of the past month the company has had some good earnings estimate revisions, and as such it would appear that analysts are becoming more bullish on both short and long term prospects for the firm.

Investors should take a look at investment opportunities

Estimates for the current quarter have fallen from a loss of 9 cents per share to a loss of 8 cents per share in the past month. Estimates for the current year have fallen from a loss of 37 cents per share to a loss of 34 cents per share. As it stands the company has a Zacks Rank #3, or Hold, which is also a positive sign.

In conclusion it is certainly worth taking a look at Chesapeake Energy if you want to invest in a good firm in what is currently a strong industry. The estimate revisions are an encouraging sign for the company, which sits in a top third industry.

On balance Chesapeake could be a decent prospect if you are wondering which company to invest in in the Oil & Gas – US Exploration & Production space. All of the indications are good for strong future performance.