Hess (HES) came out with quarterly earnings of $1.76 per share, beating the Zacks Consensus Estimate of $1.51 per share. This compares to earnings of $1.63 per share a year ago.
Oil and gas producer Hess Corp's fourth-quarter profit surpassed Wall Street expectations on Wednesday, buoyed by higher production volumes in the United States and Guyana.
HES' Q4 earnings are likely to have been affected by a drop in crude and natural gas prices and an increase in input costs.
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Hess (HES) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
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Hess CEO John Hess on Tuesday said he sees the oil market as closer to being balanced than oversupplied this year, despite worries about demand from China and greater production from U.S. and non-OPEC producers.
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Exxon Mobil want to "participate" in Hess Corp.'s sale of its Guyana oil production assets, and extract value from the work it has put into developing the country's offshore fields, two of its top executives said on Wednesday.
Hess (HES) reported earnings 30 days ago. What's next for the stock?
Hess reported unfavorable United States results and has for some time. Hess Midstream services the largest part of the United States business. Clearly, the profitability situation needs to be fixed.
HES' Q3 earnings benefit from higher oil-equivalent production. The company also raised its full-year 2024 capital expenditure guidance.