Yahoo Finance How to Find Strong Buy Oils and Energy Stocks Using the Zacks Rank
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Should You Buy #1 (Strong Buy)-Ranked Hess (HES) for Your Portfolio?
Hess was upgraded to the Zacks Rank #1 list on April 23, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Headquartered in New York, Hess is a leading oil and natural gas exploration and production company. The upstream energy player primarily operates in the prolific offshore Guyana resources. The company’s operations are also spread across key resources like the U.S. Gulf of Mexico, and offshore Suriname and Canada.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $1.85 to $9.17 per share. HES boasts an average earnings surprise of 35.7%.
Earnings are expected to grow 81.6% for the current fiscal year, while revenue is projected to increase 20.8%.
Additionally, HES has climbed higher over the past four weeks, gaining 1.5%. The S&P 500 is up 0.2% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Hess could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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