| Hess Posts Narrower-than-Expected Q1 Loss, Revenues Beat - Analyst Blog | |
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Hess Corporation HES reported adjusted first-quarter 2015 loss – from continuing operation − of 98 cents per share, bettering the Zacks Consensus Estimate of $1.09 loss. However, the bottom line deteriorated from the year-ago quarter earnings of $1.38 mainly due to a drop in oil and gas prices. Hess Corporation - Earnings Surprise | FindTheCompany Revenues decreased year over year to $1,550 million in the quarter from $2,592 million a year ago. However, revenues surpassed the Zacks Consensus Estimate of $1,442 million.
First-Quarter Operational Performance
In the reported quarter, the Exploration and Production business digested a loss of $286 million versus the year-earlier profit of $508 million.
Quarterly hydrocarbon production was 361 thousand barrels of oil equivalent per day, up 13.5% year over year. The increase in production came primarily on the back of higher output from the Bakken shale play.
Crude oil production was 230 thousand barrels per day (up from 210 thousand barrels per day in the year-ago quarter), natural gas liquids production totaled 35 thousand barrels (up from 13 thousand barrels). However, natural gas output was 574 thousand cubic feet (Mcf) (down from 571 Mcf).
Worldwide crude oil realization per barrel of $44.78 (including the impact of hedging) decreased 54.8% year over year. Worldwide natural gas prices fell 32.6% year over year to $4.74 per Mcf.
Financials
Quarterly net cash flow from operations was $362 million at quarter end. Hess’ capital expenditures totaled $1.3 billion.
As of Mar 31, 2015, the company had approximately $1,506 million in cash and $5,911 million in long-term debt. The debt-to-capitalization ratio at the end of the quarter was 21.6%.
Zacks Rank
Hess currently carries a Zacks Rank #3 (Hold).
For investors interested in the same sector, some better-ranked stocks are Energy Transfer Equity, L.P. ETE, Sunoco Logistics Partners L.P. SXL and Valero Energy Partners LP VLP. All of these sport a Zacks Rank #1 (Strong Buy) and appear more rewarding for the short term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HESS CORP (HES): Free Stock Analysis Report SUNOCO LOGISTIC (SXL): Free Stock Analysis Report ENERGY TRAN EQT (ETE): Free Stock Analysis Report VALERO EGY PTNR (VLP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Hess Corporation
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CODE : HES |
ISIN : US42809H1077 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Hess Corp. is a and oil exploration company based in United states of america. Hess Corp. is listed in Germany and in United States of America. Its market capitalisation is US$ 47.8 billions as of today (€ 44.9 billions). Its stock quote reached its lowest recent point on November 17, 1989 at US$ 10.06, and its highest recent level on April 18, 2024 at US$ 151.78. Hess Corp. has 315 053 615 shares outstanding. |