Loss Narrower than Expected: An integrated energy company Hess Corporation (HES - Free Report) reported fourth quarter loss per share from continuing operation (excluding special items) of 31 cents, narrower than the Zacks Consensus Estimate of 41 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has seen no movement in the last seven days.
Nonetheless, Hess has an impressive earnings surprise history. Before posting Q4 earnings, the company delivered positive surprises in three of the prior four quarters. Overall, the company has a positive earnings surprise of 230.5% in the trailing four quarters.
Revenues: Hess posted revenues of $1,682 million, beating the Zacks Consensus Estimate of $1,594 million. Revenues also increased from the year-ago number of $1,291 million.
Key Stats: Quarterly hydrocarbon production was 289 thousand barrels of oil equivalent per day, down 3.7% year over year.
Worldwide crude oil realization per barrel of $55.24 (including the impact of hedging) showed a decrease of 0.4% year over year. The average worldwide natural gas liquids selling price also decreased to $21.19 per barrel from $22.78 in the year-ago quarter.
Worldwide natural gas prices rose 30.6% year over year to $4.82 per Mcf.
Zacks Rank: Currently, Hess carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank stocks here.)
Check back later for our full write up on this Hess Corporation earnings report later!
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Loss Narrower than Expected: An integrated energy company Hess Corporation (HES - Free Report) reported fourth quarter loss per share from continuing operation (excluding special items) of 31 cents, narrower than the Zacks Consensus Estimate of 41 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has seen no movement in the last seven days.
Nonetheless, Hess has an impressive earnings surprise history. Before posting Q4 earnings, the company delivered positive surprises in three of the prior four quarters. Overall, the company has a positive earnings surprise of 230.5% in the trailing four quarters.
Revenues: Hess posted revenues of $1,682 million, beating the Zacks Consensus Estimate of $1,594 million. Revenues also increased from the year-ago number of $1,291 million.
Key Stats: Quarterly hydrocarbon production was 289 thousand barrels of oil equivalent per day, down 3.7% year over year.
Worldwide crude oil realization per barrel of $55.24 (including the impact of hedging) showed a decrease of 0.4% year over year. The average worldwide natural gas liquids selling price also decreased to $21.19 per barrel from $22.78 in the year-ago quarter.
Worldwide natural gas prices rose 30.6% year over year to $4.82 per Mcf.
Zacks Rank: Currently, Hess carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank stocks here.)
Check back later for our full write up on this Hess Corporation earnings report later!
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
See Stocks Today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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