20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Hess Corp (NYSE:HES) reported Q2 revenues of $2.32 billion, beating the consensus of $2.09 billion.
Oil and gas net production rose 28% Y/Y to 387,000 barrels of oil equivalent per day (boepd), proforma for asset sold.
Net production at Bakken increased 29% Y/Y to 181,000 boepd, and at Guyana rose to 110,000 bopd from 67,000 bopd in the prior-year quarter.
E&P capital and exploratory expenditures increased to $933 million vs. $622 million a year ago on development activities in Guyana and higher drilling activity in the Bakken.
Adjusted EPS of $0.65, down from $2.15, surpassed the consensus of $0.50.
The Y/Y decline in adjusted EPS reflects lower realized selling prices, partially negated by higher production volumes in Q2 2023.
Operating cash flow came in at $974 million in Q2, vs $1.509 billion a year ago.
As of June 30, 2023, Hess had cash and equivalents of $2.2 billion.
2023 Guidance: The company raised the net production outlook to 385,000-390,000 boepd from 365,000-375,000 boepd on strong operational performance and the expected startup of the Payara development early in Q4.
Price Action: HES shares are trading lower by 0.29% at $146.92 on the last check Wednesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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