| Weakness Seen in Hess (HES) Estimates: Should You Stay Away? | |
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Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
One such stock that you may want to consider dropping is Hess Corporation HES, which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in HES.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 3 estimates moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from a loss of $3.66 a share a month ago to its current level of a loss of $3.71.
Also, for the current quarter, Hess has seen 4 downward estimate revisions versus no revision in the opposite direction, dragging the consensus estimate down to a loss of $1.27 a share from a loss of $1.15 over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 18.8% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the broader Oil-Energy sector, you may instead a better-ranked stock Braskem S.A. BAK with a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BRASKEM SA (BAK): Free Stock Analysis Report HESS CORP (HES): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Hess Corporation
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CODE : HES |
ISIN : US42809H1077 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Hess Corp. is a and oil exploration company based in United states of america. Hess Corp. is listed in Germany and in United States of America. Its market capitalisation is US$ 50.1 billions as of today (€ 46.8 billions). Its stock quote reached its lowest recent point on November 17, 1989 at US$ 10.06, and its highest recent level on April 24, 2024 at US$ 159.13. Hess Corp. has 315 053 615 shares outstanding. |