John B. Hess, the CEO of Hess, made headlines on March 1, 2024, after selling off 209,785 shares of the company for a whopping $30,621,722. This insider move caused a slight dip in Hess’s stock price, which was down by 0.03% and trading at $145.7.
Hess, known for its presence in regions like the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia, has been performing well in terms of revenue growth, showing a positive increase of 2.62% over the last three months. However, despite a healthy gross margin of 63.7%, the company is struggling with profitability metrics, with an EPS below the industry average at 1.344584 and a debt-to-equity ratio higher than industry standards at 1.07.
In terms of market valuation, Hess’s Price-to-Earnings (P/E) Ratio currently stands at 32.3x, indicating that the stock is relatively expensive compared to its competitors and the industry average.
Hess Corporation (HES) Stock Price Soars by 1.76% on March 1, 2024: Positive Momentum for Investors
On March 1, 2024, Hess Corporation (HES) saw a positive performance in the stock market. The stock opened at $147.00, which was $1.25 higher than its previous close. Throughout the day, the price of HES shares continued to rise, ultimately increasing by $2.57 since the market last closed. This represented a 1.76% increase in the stock price. Investors may be pleased with the price momentum of HES on March 1, 2024. The increase in stock price shows that there is demand for HES shares, potentially due to positive news or developments related to the company. This rise in price may also be a reflection of overall market conditions or sector performance.
Hess Corporation (HES) Stock Performance Declines in Q4 2023 – Financial Data Analysis
On March 1, 2024, Hess Corporation (HES) experienced a decline in its stock performance based on its financial data. According to CNN Money, the company reported a total revenue of $10.70 billion for the past year, which decreased by 10.14% compared to the previous year. In the fourth quarter, the total revenue was $3.06 billion, remaining flat compared to the previous quarter.
The net income for the past year was $1.38 billion, which decreased by 34.06% since the previous year. In the fourth quarter, the net income was $413.00 million, holding flat compared to the previous quarter. The earnings per share (EPS) for the past year were $4.49, showing a decrease of 33.64% compared to the previous year. In the fourth quarter, the EPS was $1.34, which decreased by 18.11% compared to the previous quarter.
Overall, the financial performance of Hess Corporation indicates a decline in revenue, net income, and earnings per share. This could have contributed to the decrease in the stock performance of HES on March 1, 2024. Investors and analysts may need to closely monitor the company’s financial health and performance.
