Hess Corp. 2Q Profit Drops, Still Beats Expectations (HES)

Jul 25, 2012 (SmarTrend(R) News Watch via COMTEX) -- 7-25-2012- Hess Corp. (NYSE:HES) reported a decline in 2Q profit due a decline in oil prices. The company was able to beat expectations by boosting production in shale fields in North Dakota. Hess Corp. posted a profit of $1.61 per share, down from $1.78 per share a year ago. The company beat analysts' expectations by 23 cents per share. Hess did miss revenue expectations, reporting $9.31 billion in total revenues, compared to analysts' estimates of $10.41 billion.

Hess Corporation is a global integrated energy company. The Company explores for, produces, markets, and refines crude oil and natural gas. The Company operates in countries that include Algeria, Australia, Azerbaijan, Brazil, Denmark, Egypt, Equatorial Guinea, Gabon, Ghana, Indonesia, Libya, Malaysia, Norway, Peru, Russia, Thailand, the United Kingdom and the United States.

Hess stock is currently trading up 1.32% today at $44.51 per share. The stock is slightly above its 50-day moving average of $43.99 but below its 200-day moving average of $55.09.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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