This Top Oils and Energy Stock is a #1 (Strong Buy): Why It Should Be on Your Radar

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It doesn’t matter if you’re a growth, value, income, or momentum-focused investor — building a successful investment portfolio takes skill, research, and a little bit of luck.

Should You Buy #1 (Strong Buy)-Ranked Hess (HES) for Your Portfolio?

Hess was upgraded to the Zacks Rank #1 list on June 29, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

Headquartered in New York, Hess is a leading oil and natural gas exploration and production company. The upstream energy player primarily operates in the prolific offshore Guyana resources. The company’s operations are also spread across key resources like the U.S. Gulf of Mexico, and offshore Suriname and Canada.

For fiscal 2024, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.98 to $10.52 per share. HES boasts an average earnings surprise of 35.7%.

Analysts are expecting earnings to grow 108.3% for the current fiscal year, with revenue forecasted to rise 21%.

HES has been moving higher over the past four weeks as well, up 4.9% compared to the S&P 500’s gain of 3.8%.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Hess could be just the stock to help your portfolio generate returns that could fund your retirement, your kids’ college tuition, or your short- and long-term savings goals.

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Hess Corporation (HES) : Free Stock Analysis Report

Zacks Investment Research

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