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Hess (HES) Gains As Market Dips: What You Should Know
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Hess (HES - Free Report) closed the most recent trading day at $144.22, moving +0.36% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq added 11.55%.
Coming into today, shares of the oil and gas producer had gained 11.12% in the past month. In that same time, the Oils-Energy sector lost 3.23%, while the S&P 500 lost 1.03%.
Hess will be looking to display strength as it nears its next earnings release, which is expected to be January 25, 2023. In that report, analysts expect Hess to post earnings of $1.85 per share. This would mark year-over-year growth of 117.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.89 billion, up 28.15% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Hess. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.43% lower. Hess currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Hess is holding a Forward P/E ratio of 15.73. Its industry sports an average Forward P/E of 11.39, so we one might conclude that Hess is trading at a premium comparatively.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Hess (HES) Gains As Market Dips: What You Should Know
Hess (HES - Free Report) closed the most recent trading day at $144.22, moving +0.36% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq added 11.55%.
Coming into today, shares of the oil and gas producer had gained 11.12% in the past month. In that same time, the Oils-Energy sector lost 3.23%, while the S&P 500 lost 1.03%.
Hess will be looking to display strength as it nears its next earnings release, which is expected to be January 25, 2023. In that report, analysts expect Hess to post earnings of $1.85 per share. This would mark year-over-year growth of 117.65%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.89 billion, up 28.15% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Hess. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.43% lower. Hess currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Hess is holding a Forward P/E ratio of 15.73. Its industry sports an average Forward P/E of 11.39, so we one might conclude that Hess is trading at a premium comparatively.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.