Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

Hess Corp (HES) Posts Narrower-than-Expected Q1 Loss

Hess Corporation (HES) is leading global independent energy company engaged in oil and gas Exploration & Production (“E&P”). The company’s E&P activities are concentrated in five strategic areas the Bakken Shale in North Dakota and the Utica Shale in Ohio; the Deepwater Gulf of Mexico; Valhall Field in Norway and South Arne Field in Denmark; offshore West Africa – Equatorial Guinea and Ghana; and offshore Malaysia in the Gulf of Thailand.

Currently, Hess Corporation has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: Hess Corporation reported adjusted first-quarter 2016 loss from continuing operations of $1.72 per share, narrower than the Zacks Consensus Estimate of loss of $1.81.
 
Revenue: Revenues of $993 million came below the Zacks Consensus Estimate of $1,426 million.
 
Key Stats: Quarterly production was 350 thousand barrels of oil equivalent per day, down 3.0% year over year.
 
Check back later for our full write up on this Hess Corporation earnings report later!
 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. http://woas.zacks.com/adv/7stock_report.pdf?ADID=ZACKS_PFP_7... blog">Click to get this free report >>
 


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
HESS CORP (HES): Free Stock Analysis Report
 
To read this article on Zacks.com click here.