Hess Corp. (HES) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $-1.10 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $-1.24. The company posted revenue of $1269.00 million in the period, compared to analysts expectations of $1012.50 million. The company’s revenue was down -34.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.52 EPS.
Hess Corp. opened for trading at $51.5 and hit $53 on the upside on Thursday, eventually ending the session at $52.17, with a gain of 1.10% or 0.57 points. The heightened volatility saw the trading volume jump to 53,08,092 shares. Company has a market cap of $16,523 M.
In a different news, on Mar 30, 2016, Brian D. Truelove (Senior Vice President) sold 3,000 shares at $50.10 per share price. According to the SEC, on Mar 8, 2016, John P Rielly (Senior Vice President and CFO) sold 5,707 shares at $49.28 per share price. On Mar 8, 2016, Michael R Turner (Senior Vice President) sold 4,643 shares at $49.28 per share price, according to the Form-4 filing with the securities and exchange commission.
Hess Corporation (Hess) is an exploration and production (E&P) company that develops produces purchases transports and sells crude oil and natural gas. Its production operations are located primarily in the United States Denmark Equatorial Guinea the Joint Development Area of Malaysia/Thailand Malaysia and Norway. The Company’s production in the United States was from offshore properties in the Gulf of Mexico and onshore properties in the Bakken oil shale play in the Williston Basin of North Dakota the Permian Basin of Texas and the Utica Basin of Ohio. Approximately 16% of the Company’s crude oil and natural gas liquids production and 7% of its natural gas production were from European operations. Approximately 22% of the Company’s crude oil and natural gas liquids production were from its African operations. Approximately 1% of the Company’s crude oil and natural gas liquids production and 61% of its natural gas production were from its Asian and Other operations.