- Realized NGLs price per barrel was $22.97, indicating a 5.3% decrease from last year, slightly beating the estimate of $22.95.
- The company’s EPS stood at $3.16 against $1.13 in the same quarter last year.
- Realized natural gas price per thousand cubic feet increased by 5.2% year-over-year to $4.62, surpassing the estimate of $3.73.
- Adjusted cash flow from operations rose to $1.73 billion, up 68% from the previous year, beating the estimated $1.21 billion.
- E&P capital expenditure for the quarter was $927 million, a 21% increase y/y, but lower than the estimated $1.04 billion.
- Average hedged realized oil price per barrel was $80.06, a 7.9% y/y increase, outperforming the estimate of $76.52.
- Total revenues and non-operating income surged to $3.34 billion, up 36% y/y and higher than the estimate of $2.88 billion.
- For the full year 2024, E&P capital and exploratory expenditures are expected to reach approximately $4.2 billion.
- The stock currently has 5 buy ratings, 14 holds, and no sell ratings.
Hess Corp on Smartkarma
Analysts on Smartkarma, like Baptista Research, have begun coverage on Hess Corp, shedding light on the company’s business strategy. In their report titled “Hess Corporation: Initiation of Coverage β Business Strategy,” Baptista Research dives into Hess Corporation’s operations in the independent energy sector. With a net production average of 387,000 barrels of oil equivalent per day, Hess Corp‘s performance in the deepwater Gulf of Mexico is highlighted. The report details a second-quarter net production of 32,000 barrels per day, with the third quarter expected to see around 25,000 barrels per day due to scheduled maintenance and hurricane preparedness.
A look at Hess Corp Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 2 | |
Dividend | 2 | |
Growth | 4 | |
Resilience | 2 | |
Momentum | 4 | |
OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Hess Corp shows promising long-term potential, particularly in terms of growth and momentum. With a high score of 4 in Growth, the company is positioned for expansion and development in the future. Additionally, its Momentum score of 4 indicates strong market performance and investor interest. While its Value, Dividend, and Resilience scores are moderate, the robust ratings in Growth and Momentum bode well for Hess Corp‘s outlook.
Hess Corporation, a global independent energy company focused on oil and gas exploration and production, demonstrates notable strengths in growth and market momentum according to the Smartkarma Smart Scores. With a solid score of 4 in Growth and Momentum, the company is likely to experience positive advancements and market traction in the long term. Despite average scores in Value, Dividend, and Resilience, the emphasis on growth and momentum positions Hess Corp as a promising player in the energy sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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