Hess Corporation (NYSE:HES) is set to announce third quarter earning results on Wednesday 28th October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, HES to report 3Q20 loss of $ 0.56 per share.
For the full year, analysts anticipate top line of $ 4973.13 million, while looking forward to loss of $ 2.09 per share bottom line.
Previous Quarter Performance
Hess Corporation came out with loss for the second quarter of $ 1.05 per share, from the revenue of $ 842.00 million. The quarterly revenues decreased 50.38 percent compared with the same quarter last year. According to street consensus, HES was expected to report 2Q20 loss of $ 1.14 per share from revenue of $ 965.31 million. The bottom line results beat street analysts by $ 0.09 or 7.89 percent, at the same time, top line results fell short of analysts by $ 123.31 million or 12.77 percent.
Stock Performance
Shares of Hess Corporation traded low $ -0.08 or -0.21 percent on Tuesday, reaching $ 37.35 with volume of 2.03 million shares. Hess Corporation has traded high as $ 37.72 and has cracked $ 36.80 on the downward trend
According to the previous trading day, closing price of $ 37.35, representing a 43.63 % increase from the 52 week low of $ 26.06 and a 49.49 % decrease over the 52 week high of $ 74.11.
The company has a market capital of $ 11.47 billion and is part of the Energy sector and Oil & Gas E&P industry.
Recent Analyst recommendations
- On 28th September 2020, maintained by Bank of America at Buy rating, with $ 63.00 target price.
- On 24th September 2020, downgraded by Scotiabank to Sector Perform from Sector Outperform rating.
Conference Call
Hess Corporation will be hosting a conference call at 10:00 AM eastern time on 28th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.hess.com
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
