Hess Corporation (HES - Analyst Report) is an integrated energy company engaged in oil and gas Exploration & Production (“E&P”) and refining as well as marketing. The company’s E&P activities are concentrated in Algeria, Australia, Azerbaijan, Brazil, Denmark, Egypt, Equatorial Guinea, Gabon, Ghana, Indonesia, Libya, Malaysia, Norway, Russia, Thailand, the United Kingdom and the United States.
Currently, Hess Corporation has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Hess Corporation misses on earnings. Loss per share from continuing operations (excluding special items) came in at $1.40, lagging the Zacks Consensus Estimate of loss of $1.25 per share.
Revenue: Revenues of $1,387 million came below the Zacks Consensus Estimate of $2,528 million.
Key Stats: Quarterly production was 368 thousand barrels of oil equivalent per day, up 1.7% year over year.
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