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Hess (HES) Dips More Than Broader Markets: What You Should Know

·3 min read

Hess (HES) closed at $94.19 in the latest trading session, marking a -1.81% move from the prior day. This change lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.28%.

Prior to today's trading, shares of the oil and gas producer had lost 18.12% over the past month. This has lagged the Oils-Energy sector's loss of 13.93% and the S&P 500's gain of 1.51% in that time.

Investors will be hoping for strength from Hess as it approaches its next earnings release, which is expected to be July 27, 2022. In that report, analysts expect Hess to post earnings of $2.15 per share. This would mark year-over-year growth of 795.83%. Our most recent consensus estimate is calling for quarterly revenue of $2.67 billion, up 66.91% from the year-ago period.

HES's full-year Zacks Consensus Estimates are calling for earnings of $8.97 per share and revenue of $11.3 billion. These results would represent year-over-year changes of +309.59% and +48.98%, respectively.

It is also important to note the 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.9% higher within the past month. Hess currently has a Zacks Rank of #3 (Hold).

Investors should also note Hess's current valuation metrics, including its Forward P/E ratio of 10.7. This represents a no noticeable deviation compared to its industry's average Forward P/E of 10.7.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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