In the latest trading session, Hess (HES) closed at $123.66, marking a -1.93% move from the previous day. This change lagged the S&P 500's 1.65% loss on the day. Meanwhile, the Dow lost 1.63%, and the Nasdaq, a tech-heavy index, lost 6.65%.
Prior to today's trading, shares of the oil and gas producer had lost 7.2% over the past month. This has lagged the Oils-Energy sector's loss of 4.55% and the S&P 500's gain of 0.3% in that time.
Wall Street will be looking for positivity from Hess as it approaches its next earnings report date. The company is expected to report EPS of $1.41, up 8.46% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.47 billion, up 4.21% from the year-ago period.
HES's full-year Zacks Consensus Estimates are calling for earnings of $6.98 per share and revenue of $10.88 billion. These results would represent year-over-year changes of -1.83% and -5.94%, respectively.
Any recent changes to analyst estimates for Hess should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 10.63% lower within the past month. Hess currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Hess is holding a Forward P/E ratio of 18.06. This valuation marks a premium compared to its industry's average Forward P/E of 10.96.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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