Inside Hess Corp.’s Upcoming Second Quarter Earnings Release

S&P 500 (NYSE:SPY) component Hess Corp. (NYSE:HES) will unveil its latest earnings on Wednesday, July 27, 2011. Hess Corporation is a global integrated energy company that explores and refines crude oil (NYSE:USO) and natural gas (NYSE:UNG). Oil ETFs: The Top 10 Exchange Traded Funds for Your Oil Investing List>>

Hess Corp. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $2 per share, a rise of 73.9% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $2.03. Between one and three months ago, the average estimate moved up, but has dropped from $2.16 during the last month. For the year, analysts are projecting profit of $7.53 per share, a rise of 46.5% from last year.

Past Earnings Performance: The company is looking to top analyst estimates this quarter after trailing for the two previous quarters. Last quarter, it missed estimates by reporting net income of $1.82 per share against an estimate of profit of $1.85 per share. The quarter before that, it missed expectations by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $10.12 billion in revenue this quarter, a rise of 30.6% from the year ago quarter. Analysts are forecasting total revenue of $37.65 billion for the year, a rise of 8.8% from last year’s revenue of $34.61 billion.

Analyst Ratings: Analysts are bullish on this stock with 15 analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

Key Stats:

Revenue has risen the past four quarters. Revenue increased 14.1% to $10.56 billion in first quarter. The figure rose 4.5% in the fourth quarter of the last fiscal year from the year earlier, climbed 8.2% in the third quarter of the last fiscal year from the year-ago quarter and 14.5% in the second quarter of the last fiscal year.

The increase in profit in the first quarter comes after net income fell in the previous quarter. In the first quarter, net income rose 72.7% to $929 million. In the fourth quarter of the last fiscal year, net income fell 83.8%.

Competitors to Watch: Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), Marathon Oil Corporation (NYSE:MRO), ConocoPhillips (NYSE:COP), BP plc (NYSE:BP), TOTAL S.A. (NYSE:TOT), Occidental Petroleum Corp. (NYSE:OXY), and China Petroleum & Chemical Corp. (NYSE:SNP).

Stock Price Performance: During April 26, 2011 to July 21, 2011, the stock price had fallen $6.42 (-8%) from $80.56 to $74.14. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 5, 2011 when shares rose for seven-straight days, rising 9.8% (+$6.74) over that span. It saw one of its worst periods between April 5, 2011 and April 18, 2011 when shares fell for 10-straight days, falling 10.6% (-$9.13) over that span. Shares are down $2.20 (-2.9%) year to date.

(Source: Xignite Financials)

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