In the latest trading session, Hess (HES) closed at $129.05, marking a +1.88% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.99%.
Heading into today, shares of the oil and gas producer had lost 6.39% over the past month, outpacing the Oils-Energy sector's loss of 7.66% and lagging the S&P 500's gain of 0.42% in that time.
Wall Street will be looking for positivity from Hess as it approaches its next earnings report date. On that day, Hess is projected to report earnings of $1.12 per share, which would represent a year-over-year decline of 47.91%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.68 billion, down 10.27% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.44 per share and revenue of $11.12 billion. These totals would mark changes of -23.49% and -3.85%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Hess. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 10.39% lower. Hess is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Hess has a Forward P/E ratio of 23.27 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.6.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 121, which puts it in the top 49% 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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