HES Stock Summary and Trading Ideas (Hess | NYSE:HES)

Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2023, the company reported net proved reserves of 1.4 billion barrels of oil equivalent. Net production averaged 391 thousand barrels of oil equivalent per day in 2023, at a ratio of 74% oil and natural gas liquids and 26% natural gas.

Hess trades on the NYSE stock market under the symbol HES.

As of May 16, 2024, HES stock price declined to $156.31 with 1,686,793 million shares trading.

HES has a beta of 0.70, meaning it tends to be less sensitive to market movements. HES has a correlation of 0.10 to the broad based SPY ETF.

HES has a market cap of $48.01 billion. This is considered a Large Cap stock.

Last quarter Hess reported $3 billion in Revenue and $3.16 earnings per share. This beat revenue expectation by $651 million and exceeded earnings estimates by $1.47.

In the last 3 years, HES stock traded as high as $167.75 and as low as $61.93.

The top ETF exchange traded funds that HES belongs to (by Net Assets): VTI, VOO, XLE, VO, SPY.

HES has underperformed the market in the last year with a price return of +17.4% while the SPY ETF gained +29.6%. However, in the short term, HES had mixed performance relative to the market. It has outperformed in the last 3 months, returning +5.9% vs +5.6% return in SPY. But in the last 2 weeks, HES shares have been beat by the market, returning -0.3% compared to an SPY return of +5.7%.

HES support price is $154.51 and resistance is $158.93 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HES stock will trade within this expected range on the day.