Financial Performance - Hess Corporation reported fourth-quarter 2024 adjusted earnings per share (EPS) of $1.63, exceeding the Zacks Consensus Estimate of $1.51, with the bottom line remaining flat year over year [1] - Total quarterly revenues increased to $3,225 million from $3,035 million in the year-ago period, also beating the Zacks Consensus Estimate of $3,032 million [1] Production and Operations - The Exploration and Production segment reported adjusted earnings of $529 million, slightly down from $531 million a year ago, impacted by lower realized crude and natural gas prices [3] - Quarterly hydrocarbon production totaled 495 thousand barrels of oil equivalent per day (MBoe/d), up from 418 MBoe/d in the prior year, primarily due to increased production in Guyana and Bakken, surpassing the estimate of 479.3 MBoe/d [3] - Crude oil production rose from 244 MBbls/d in Q4 2023 to 315 MBbls/d, exceeding the estimate of 303.6 MBbls/d [4] - NGL production increased to 79 MBbls/d from 73 MBbls/d year-over-year, also beating the estimate of 74.9 MBbls/d [4] - Natural gas production slightly decreased to 607 thousand cubic feet per day (Mcf/d) from 608 Mcf/d a year ago, but was higher than the estimate of 604.7 Mcf/d [4] Pricing and Costs - Worldwide crude oil realization per barrel was $72.10, down from $78.95 in the previous year, while global natural gas prices declined to $4.10 per Mcf from $4.51 [5] - Average global NGL selling price increased to $23.05 per barrel from $20.92 year-over-year [5] - Operating expenses totaled $532 million, up from $473 million a year ago, exceeding the projection of $474 million [7] - Total costs and expenses decreased to $2,297 million from $2,350 million in the prior-year period [7] Financial Position - Net cash provided by operating activities was $1,312 million, with capital expenditure for exploration and production activities totaling $1,677 million [8] - As of December 31, 2024, the company had $1,171 million in cash and cash equivalents, with long-term debt at $8,555 million [8] Future Outlook - For Q1 2025, Hess expects exploration and production net production of 465-475 thousand barrels of oil equivalent per day [10] - The company forecasts total exploration and production capital and exploratory expenditure of $4.5 billion for the full year 2025 [10]

Company Performance - Hess reported quarterly earnings of $1.76 per share, exceeding the Zacks Consensus Estimate of $1.51 per share, and up from $1.63 per share a year ago, representing an earnings surprise of 16.56% [1] - The company posted revenues of $3.23 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 6.38%, compared to $3.04 billion in the same quarter last year [2] - Over the last four quarters, Hess has consistently surpassed consensus EPS estimates and revenue estimates [2] Stock Movement and Outlook - Hess shares have increased approximately 9.1% since the beginning of the year, outperforming the S&P 500's gain of 3.2% [3] - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $1.81 for the coming quarter and $7.69 for the current fiscal year [7] - The estimate revisions trend for Hess is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Oil and Gas - Integrated - United States industry is currently ranked in the bottom 46% of over 250 Zacks industries, suggesting potential challenges for stocks in this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - Net income for the fourth quarter of 2024 was $542 million, or $1.76 per share, compared to $413 million, or $1.34 per share, in the fourth quarter of 2023, reflecting a 31% increase in net income year-over-year[3] - Adjusted net income for the year ended December 31, 2024, was $2,983 million, a 92.5% increase from $1,552 million in 2023[35] - Total revenues and non-operating income for the year ended December 31, 2024, reached $13,018 million, compared to $10,645 million in 2023, reflecting a 22.3% growth[36] - The company reported a net income of $640 million for Q4 2024, up from $503 million in Q4 2023, representing a 27.3% increase[41] - For the year ended December 31, 2024, total revenues and non-operating income were $12,907 million, compared to $10,550 million in 2023, marking a 22.4% increase[50] - The company reported a net income of $2,780 million for the year ended December 31, 2024, compared to $1,601 million in 2023, reflecting a 73.2% increase[50] Production and Reserves - Oil and gas net production reached 495,000 barrels of oil equivalent per day (boepd), an 18% increase from 418,000 boepd in the fourth quarter of 2023[4] - Guyana net production surged to 195,000 barrels of oil per day (bopd), a 52% increase from 128,000 bopd in the fourth quarter of 2023[4] - Year-end proved reserves were estimated at 1.44 billion barrels of oil equivalent (boe), an increase from 1.37 billion boe at the end of 2023, with a reserve replacement rate of 138%[9] - Daily net production in Q4 2024 was 315,000 barrels of oil equivalent, a 29.1% increase from 244,000 barrels in Q4 2023[53] - Hess Corporation's total barrels of oil equivalent production for the year ended December 31, 2024, was 481,000 barrels per day, an increase from 394,000 barrels per day in 2023, representing a 22.0% growth[56] Capital Expenditures - E&P capital and exploratory expenditures totaled $1,677 million in the fourth quarter of 2024, up from $1,480 million in the prior-year quarter, including $635 million for the purchase of two floating production, storage, and offloading vessels[4] - Full year 2025 E&P capital and exploratory expenditures are expected to be approximately $4.5 billion, including capitalized interest of about $240 million[16] - Total capital and exploratory expenditures for 2024 amounted to $4,859 million, an increase from $4,176 million in 2023, reflecting a 16.3% rise[43] - The company incurred $1,720 million in capital expenditures in Q4 2024, compared to $1,518 million in Q4 2023, indicating a 13.3% increase[41] Cash Flow and Costs - Net cash provided by operating activities was $1,312 million in the fourth quarter of 2024, slightly down from $1,344 million in the prior-year quarter[19] - Net cash provided by operating activities before changes in operating assets and liabilities was $6,353 million for the year ended December 31, 2024, an increase of 41.3% from $4,494 million in 2023[35] - The company reported a net cash provided by operating activities of $5,600 million for the year ended December 31, 2024, compared to $3,942 million in 2023, marking a 42.1% increase[35] - Cash operating costs decreased to $12.95 per boe in the fourth quarter of 2024, compared to $13.29 per boe in the fourth quarter of 2023[8] Debt and Liabilities - The debt to capitalization ratio improved to 28.3% at December 31, 2024, down from 33.6% at December 31, 2023[18] - The debt to capitalization ratio for Hess Consolidated improved to 42.1% in 2024 from 47.8% in 2023[38] - Hess Corporation's total liabilities as of December 31, 2024, were $15,127 million, compared to $14,887 million in 2023, reflecting a slight increase[37] Pricing and Market Conditions - The average realized crude oil selling price was $72.10 per barrel in the fourth quarter of 2024, down from $76.63 per barrel in the prior-year quarter[6] - Average selling price of crude oil per barrel (including hedging) in the United States increased to $72.70 in 2024 from $70.80 in 2023, representing a growth of 2.5%[64] - Average selling price of crude oil per barrel (excluding hedging) in Guyana decreased to $80.04 in 2024 from $82.20 in 2023, a decline of 2.6%[64] - Average selling price of natural gas liquids per barrel in North Dakota increased to $21.75 in 2024 from $20.77 in 2023, an increase of 4.7%[64] - Average selling price of natural gas per mcf in the United States decreased to $1.25 in 2024 from $1.76 in 2023, a decline of 29.0%[64] Future Outlook - Hess Corporation is currently in the process of a merger with Chevron Corporation, which may impact future financial results and operational strategies[27] - The company anticipates continued growth in crude oil and natural gas production, with a focus on sustainability and environmental initiatives[28]

Core Viewpoint - Hess Corporation is expected to report its fourth-quarter 2024 results on January 29, with earnings anticipated to be impacted by fluctuating commodity prices and production performance [1][4][7]. Earnings Performance - In the last reported quarter, Hess achieved earnings of $2.14 per share, surpassing the Zacks Consensus Estimate of $1.88, primarily due to increased oil equivalent production volumes [1]. - The company has consistently beaten earnings estimates in the past four quarters, with an average surprise of 29.03% [2]. - The Zacks Consensus Estimate for fourth-quarter earnings per share is $1.63, reflecting one upward and two downward revisions in the last 30 days, aligning with the prior year's reported figure [2] Revenue Expectations - The Zacks Consensus Estimate for revenues stands at $3.07 billion, indicating a 1.01% improvement from the same period last year [3]. Production Outlook - Hess is expected to maintain stable performance in the fourth quarter, supported by a strong production outlook from its premium untapped drilling locations in the Bakken shale and the Stabroek Block offshore Guyana [4]. Commodity Price Challenges - The spot price of West Texas Intermediate crude oil has decreased by 10.03% year over year and 7.44% sequentially, which may negatively affect Hess's profitability [5]. - Natural gas prices have also seen a significant decline, with Henry Hub spot natural gas averaging $2.44 per million British thermal units (MMBtu) in the fourth quarter, down from $2.74/MMBtu a year ago [6]. - The drop in commodity prices is expected to impact the profitability of exploration and production companies like Hess, with anticipated increases in unit costs per barrel of oil equivalent potentially raising input costs [7]. Earnings Prediction - Current analysis suggests that Hess may not achieve an earnings beat this quarter, with an Earnings ESP of -5.96% and a Zacks Rank of 3 (Hold) [8].

Core Insights - Zacks Premium offers tools for investors to enhance their stock market strategies, including daily updates, research reports, and stock screens [1] - The Zacks Style Scores provide a framework for evaluating stocks based on value, growth, and momentum, aiding in identifying securities likely to outperform the market [2][3] Value Score - The Value Style Score focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow to find attractive investment opportunities [3] Growth Score - The Growth Style Score emphasizes a company's financial health and future potential by analyzing projected and historical earnings, sales, and cash flow to identify stocks with sustainable growth [4] Momentum Score - The Momentum Style Score helps investors capitalize on price trends by assessing factors like short-term price changes and monthly earnings estimate shifts, guiding optimal entry points for stocks [5] VGM Score - The VGM Score combines the Value, Growth, and Momentum Scores, serving as a comprehensive indicator to identify stocks with the best overall potential based on weighted styles [6] Zacks Rank - The Zacks Rank is a proprietary model that leverages earnings estimate revisions to assist investors in building successful portfolios, with 1 (Strong Buy) stocks historically yielding an average annual return of +25.41% since 1988 [7][8] Stock to Watch: Hess (HES) - Hess is a prominent oil and natural gas exploration and production company, primarily active in offshore Guyana, the U.S. Gulf of Mexico, and other regions [12] - Currently rated 3 (Hold) by Zacks, Hess has a VGM Score of A and a Momentum Style Score of A, with shares increasing by 11.5% over the past four weeks [12][13] - Recent upward revisions in earnings estimates by analysts have raised the Zacks Consensus Estimate for Hess to $9.40 per share, with an average earnings surprise of 29% [13]

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Hess (HES) . This company, which is in the Zacks Oil and Gas - Integrated - United States industry, shows potential for another earnings beat.When looking at the last two reports, this oil and gas producer has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 9.74%, on average, in t ...

Whenever retail investors can get their hands on the latest set of investment flow data, they should pay attention to it. Not only to figure out who is buying what and what asset classes – or individual stocks – might come into favor in the following months but actually so that they can connect the dots with whatever trends and themes are developing in the broader markets and economy. This way, instead of blindly following a hedge fund manager or a mega investor, there is a chance to know more in-depth reas ...

CALGARY, Alberta, Nov. 26, 2024 (GLOBE NEWSWIRE) -- DIRTT Environmental Solutions Ltd. (“DIRTT” or the “Company”), a leader in industrialized construction, is pleased to announce that Holly Hess Groos is joining the DIRTT Board of Directors effective November 26, 2024 and will also serve as the Chair of the Audit Committee. Effective November 26, 2024, Scott Robinson, current Board Chair and Audit Committee Chair, will step down from his role as Audit Committee Chair. Ms. Groos is a senior financial executi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-1204 HESS CORPORATION (Exact Name of Registrant as Specified in Its Charter) DELAWARE (State or Other Jurisdiction of Incorporation or Organizatio ...

I analyze oil and gas companies and related companies like Hess Midstream in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign up he ...