Hess (HES) closed at $105.39 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 0.4%.
Heading into today, shares of the oil and gas producer had lost 16.09% over the past month, lagging the Oils-Energy sector's loss of 14.41% and the S&P 500's loss of 8.3% 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 year-over-year growth of 366.67%. Our most recent consensus estimate is calling for quarterly revenue of $2.75 billion, up 71.86% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.42 per share and revenue of $11.42 billion. These totals would mark changes of +330.14% and +50.6%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Hess. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.09% higher. Hess is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Hess is currently trading at a Forward P/E ratio of 11.25. This represents a premium compared to its industry's average Forward P/E of 10.94.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% 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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