Higher oil equivalent production volumes and increased commodity realized prices aid Hess' (HES) Q2 earnings.
Hess (HES) came out with quarterly earnings of $2.62 per share, beating the Zacks Consensus Estimate of $2.48 per share. This compares to earnings of $0.65 per share a year ago.
Hess Corp beat estimates for second-quarter profit on Wednesday, helped by higher oil production in Guyana.
Favorable commodity prices, coupled with premium Bakken shale and Stabroek Block production boosts, are likely to have aided Hess' (HES) Q2 earnings.
Hess (HES) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Hess (HES) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Hess (HES) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Here is how Hess (HES) and Kimbell Royalty (KRP) have performed compared to their sector so far this year.
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Hess (HES) faces additional challenges due to the FTC's decision to postpone its merger verdict until the arbitration case is resolved, which could extend into the fourth quarter.
The final member has been chosen for a three-person arbitration panel meant to settle Exxon Mobil's claim against Chevron's $53 billion purchase of Hess Corp , two people familiar with the matter told Reuters.