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Hess (HES) Outpaces Stock Market Gains: What You Should Know
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Hess (HES - Free Report) closed at $152.21 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 1.1%.
Prior to today's trading, shares of the oil and gas producer had gained 11.93% over the past month. This has outpaced the Oils-Energy sector's gain of 5.03% and the S&P 500's loss of 0.01% in that time.
Investors will be hoping for strength from Hess as it approaches its next earnings release, which is expected to be January 25, 2023. On that day, Hess is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 110.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.8 billion, up 24.26% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Hess. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.69% lower. Hess is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Hess's current valuation metrics, including its Forward P/E ratio of 16.99. This valuation marks a premium compared to its industry's average Forward P/E of 11.93.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Hess (HES) Outpaces Stock Market Gains: What You Should Know
Hess (HES - Free Report) closed at $152.21 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 1.1%.
Prior to today's trading, shares of the oil and gas producer had gained 11.93% over the past month. This has outpaced the Oils-Energy sector's gain of 5.03% and the S&P 500's loss of 0.01% in that time.
Investors will be hoping for strength from Hess as it approaches its next earnings release, which is expected to be January 25, 2023. On that day, Hess is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 110.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.8 billion, up 24.26% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Hess. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.69% lower. Hess is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Hess's current valuation metrics, including its Forward P/E ratio of 16.99. This valuation marks a premium compared to its industry's average Forward P/E of 11.93.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.