| Hess Corp Slips to Loss in Q4 on Continued Oil Price Plunge | |
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Hess Corporation HES reported adjusted fourth-quarter 2015 loss from continuing operations of $1.40 per share, wider than the Zacks Consensus Estimate of a loss of $1.10. In the year-ago quarter, the company had posted earnings of 18 cents. The underperformance was mainly due to the plunge in oil and gas prices. Hess Corporation (HES) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany Revenues decreased more than 45% year over year to $1,387 million in the quarter from $2,528 million. Revenues also missed the Zacks Consensus Estimate of $1,588 million.
Full-year 2015 loss from continuing operation – excluding one-time items − came in at $3.93 per share. The company had reported earnings of $4.25 per share in the prior year. The loss was also wider than the Zacks Consensus Estimate of a loss of $3.76.
Total revenue decreased 42.6% to $6,561 million from $11,439 million in 2014. Revenues for 2015 also came in below the Zacks Consensus Estimate of $6,706 million.
Fourth-Quarter Operational Performance
In the reported quarter, the Exploration and Production (E&P) business posted adjusted loss of $328 million. In the year-ago quarter, it had generated a profit of $138 million.
Quarterly hydrocarbon production was 368 thousand barrels of oil equivalent per day (MBOE/d), up 1.7% year over year.
Crude oil production was 233 thousand barrels per day (down from 241 thousand barrels per day in the year-ago quarter), natural gas liquids production totaled 40 thousand barrels (up from 32 thousand barrels). However, natural gas output was 571 thousand cubic feet (Mcf) (up from 531 Mcf).
Worldwide crude oil realization per barrel of $43.73 (including the impact of hedging) decreased 42% year over year. Worldwide natural gas prices fell 34.4% year over year to $3.44 per Mcf.
Financials
Quarterly net cash flow from operations was $623 million at the end of the quarter. Hess’ capital expenditures totaled $943 million.
As of Dec 31, 2015, the company had approximately $2,716 million in cash and $6,544 million in long-term debt. The debt-to-capitalization ratio at the end of the quarter was 23.7%.
2016 Capital Budget
Hess has reduced its 2016 capital expenditure to $2.4 billion, down 40% from $4 billion spent in 2015.
Zacks Rank
Hess currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy sector are Contango Oil & Gas Company MCF, Braskem S.A. BAK and Enviva Partners, LP EVA. All these stocks sport a Zacks Rank #1 (Strong Buy).
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Hess Corporation
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CODE : HES |
ISIN : US42809H1077 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Hess Corp. is a and oil exploration company based in United states of america. Hess Corp. is listed in Germany and in United States of America. Its market capitalisation is US$ 42.4 billions as of today (€ 38.1 billions). Its stock quote reached its lowest recent point on November 17, 1989 at US$ 10.06, and its highest recent level on September 19, 2024 at US$ 134.45. Hess Corp. has 315 053 615 shares outstanding. |