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Iranian President, Hassan Rouhani, announced he found 53 billion barrels of crude oil. Prosper Trading Academy Senior Strategist Scott Bauer joins Yahoo Finance’s Adam Shapiro, Julie Hyman and Brian Sozzi to discuss the news on On The Move.
The three major U.S. stock market indexes hovered near their break-even points as Fed Chairman Jerome Powell testified before Congress and the House of Representatives began its first day of televised impeachment hearings.
The energy sector consists of stocks related to the production and supply of energy around the world. Among energy sector companies are upstream firms—those involved in the exploration and production of oil or gas reserves—like EOG Resources (EOG). Also in the sector are downstream companies that refine and process oil and gas products for delivery to consumers, including HollyFrontier (HFC).
Hess Corporation (HES) announced today that John Hess, Chief Executive Officer, will deliver a keynote presentation: Perspectives on Global Oil Outlook at the Bank of America Merrill Lynch 2019 Global Energy Conference in Miami Beach, FL on November 13, 2019 at 8:05 a.m. Eastern Time. A live audio webcast and a replay of the presentation will be accessible via Hess Corporation’s website. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas.
U.S. equities are treading water ahead of the Federal Reserve's latest policy decision, with the Dow Jones Industrial Average holding near the 27,000 level. While most stocks are holding steady ahead of what is expected to be another interest rate cut, energy stocks are weakening here as West Texas Intermediate drops back below the $55-a-barrel level and traders shrug off Middle East tensions and worry about soft global economic data. * 7 Dividend Stocks That Could Struggle to Continue Payout Hikes As a result, a number of key oil field services and oil production stocks are rolling over. Here are four to sell now:InvestorPlace - Stock Market News, Stock Advice & Trading Tips Schlumberger (SLB)Shares of Schlumberger (NYSE:SLB) look set to fall back to triple-bottom support near the $31-a-share level after once again losing its 50-day moving average. This caps a massive downtrend pattern that started in early 2017 and has resulted in a loss of nearly 60% of value.The company will next report results on Jan. 17 before the open. Analysts are looking for earnings of 38 cents per share on revenues of $8.2 billion. Halliburton (HAL)Halliburton (NYSE:HAL) shares are threatening to fall back below their 50-day moving average, returning to the lows near $17 tested back in August, after a series of analyst downgrades. Argus cut their rating to sell. Cowen analysts also lowered their price target as the industry cuts capacity and trims expenses. * 10 Stocks to Buy Regardless of Q3 Earnings HAL will next report results on Jan. 21 before the bell. Analysts are looking for earnings of 30 cents per share on revenues of $5.19 billion. Hess (HES)Shares of independent oil and gas producer Hess (NYSE:HES) are topping out near multi-month overhead resistance just under the $70-a-share level, setting up a likely retest of its 200-day moving average.Hess reported results before the open this morning, with a loss of 32 cents per share missing estimates by a penny on a 17.1% drop in revenues. Sentiment isn't looking great in the wake of an initiation of coverage by Citigroup analysts with a neutral rating back in late September. Noble Energy (NBL)Noble Energy (NYSE:NBL) shares are testing critical late-2018 support near the $18-a-share level after forming a nasty looking double-top pattern near $27.The company will next report results on Nov. 7 before the bell. Analysts are looking for a loss of 11 cents per share on revenues of $1.1 billion. Analysts at Oppenheimer recently warned of multiple compression heading into 2020 likely to weigh on share prices. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks That Could Struggle to Continue Payout Hikes * 8 Consumer Stocks to Buy before Thanksgiving * 10 Stocks to Buy Regardless of Q3 Earnings The post 4 Energy Stocks to Sell appeared first on InvestorPlace.
Hess' (HES) third-quarter earnings are aided by higher hydrocarbon production, partially offset by lower commodity price realization and increased operating expenses.
Hess (HES) delivered earnings and revenue surprises of 0.00% and -1.79%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Hess Corp reported a smaller-than-expected quarterly loss and raised its full-year production forecast on Wednesday, owing to higher output at the U.S. oil and gas producer's assets in the Bakken shale. Production from Bakken rose 38% to 163,000 barrels of oil equivalent per day (boe/d) in the quarter, helping net production, excluding Libya, rise about 4% to 290,000 boe/d. Oil from seven big shale formations, particularly the Permian basin of Texas and New Mexico and the Bakken in North Dakota, have helped the United States become the biggest crude oil producer in the world.
Lower commodity prices and demand for energy products are expected to have affected oil and gas stocks' earnings in the third quarter of 2019.
Hess Corporation (HES) today announced an oil discovery at the Esox-1 exploration well located in Mississippi Canyon Block No. 726 in the deepwater Gulf of Mexico. “We are delighted with the success of the Esox well, which demonstrates the value of our infrastructure led exploration program in the deepwater Gulf of Mexico,” CEO John Hess said. Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Hess Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Hess (HES) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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Hess (HES) intends to use the cash proceeds from Hess Midstream's structural simplification to fund Guyana and Bakken Shale development opportunities.
Hess Corporation (HES) announced today that it will hold a conference call on Wednesday, October 30, 2019 at 10 a.m. Eastern Time to discuss its third quarter 2019 earnings release. To phone into the conference call, parties in the United States should dial 877-693-6685 and enter the pass code 3542157 after 9:45 a.m. Outside the United States, parties should dial 443-295-9223 and enter the pass code 3542157. This conference call will also be accessible by webcast (audio only).
Hess Midstream Partners is acquiring a related entity in a $6.2 billion deal and moving away from the MLP structure.
Moody's Investors Service ("Moody's") assigned a Ba2 Corporate Family Rating (CFR) to Hess Midstream Operations LP (HESM Opco), a Ba2-PD Probability of Default Rating (PDR), and Baa3 ratings to its new secured revolving credit facility and proposed $400 million Term Loan A. Moody's also assigned Ba3 ratings to HESM Opco's 5.625% unsecured notes into which the existing Hess Infrastructure Partners LP (HIP, Ba2 stable) unsecured notes will be exchanged, and to HESM Opco's proposed $500 million new unsecured notes issue. The outlook is positive.