| Hess Posts Narrower-than-Expected Q3 Loss, Revenues Beat | |
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Hess Corporation HES reported adjusted third-quarter 2015 loss – from continuing operation − of $1.03 per share, narrower than the Zacks Consensus Estimate of $1.13 loss. However, the bottom line deteriorated from the year-ago quarter earnings of $1.24 mainly due to a drop in oil and gas prices. Hess Corporation (HES) - Earnings Surprise | FindTheCompany Revenues decreased year over year to $1,689 million in the quarter from $2,736 million a year ago. However, revenues surpassed the Zacks Consensus Estimate of $1,518 million.
Third-Quarter Operational Performance
In the reported quarter, the Exploration and Production business digested a loss of $188 million versus the year-earlier profit of $433 million. The company’s Bakken Midstream business posted higher net income of $16 million than $8 million in the prior-year quarter primarily due to higher throughput.
Quarterly hydrocarbon production was 380 thousand barrels of oil equivalent per day, up 19% year over year. The increase in production came primarily on the back of higher output from the Bakken shale play, Utica shale play, and the Gulf of Mexico.
Crude oil production was 244 thousand barrels per day (up from 211 thousand barrels per day in the year-ago quarter), natural gas liquids production totaled 40 thousand barrels (up from 30 thousand barrels). Natural gas output was 574 thousand cubic feet (Mcf) (up from 462 Mcf).
Worldwide crude oil realization per barrel of $45.66 (including the impact of hedging) decreased 53% year over year. The worldwide natural gas liquids selling price was $7.17 per barrel, down from $29.62 per barrel in the year-ago quarter. Finally, the worldwide natural gas selling price was $4.02 per Mcf in the third quarter of 2015 compared with $5.59 per Mcf in the third quarter of 2014.
Financials
Quarterly net cash flow from operations was $489 million at quarter end. Hess’ capital expenditures totaled $849 million.
As of Sep 30, 2015, the company had approximately $3,004 million in cash and $5,952 million in long-term debt. The debt-to-capitalization ratio at the end of the quarter was 22.7%.
Zacks Rank
Hess currently carries a Zacks Rank #3 (Hold).
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Hess Corporation
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CODE : HES |
ISIN : US42809H1077 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Hess Corp. est une société d’exploration minière et de pétrole basée aux Etats-Unis D'Amerique. Hess Corp. est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 42,3 milliards US$ (37,9 milliards €). La valeur de son action a atteint son plus bas niveau récent le 17 novembre 1989 à 10,06 US$, et son plus haut niveau récent le 20 septembre 2024 à 134,40 US$. Hess Corp. possède 315 053 615 actions en circulation. |