5 Important Energy Stocks Making Moves After Earnings

3. Hess Corporation (NYSE:HES)

Number of Hedge Fund Holders: 40

Shares of Hess Corporation (NYSE:HES) slightly moved down after the opening bell on Wednesday, July 27, despite announcing better-than-expected financial results for the second quarter.

Hess Corporation (NYSE:HES) reported earnings of $2.15 per share for the quarter, compared to the loss of 24 cents per share in the year-ago period. Revenue came in at $2.988 billion versus $1.598 billion in the comparable period of 2021. Analysts were expecting Hess Corporation (NYSE:HES) to earn $2.12 per share on revenue of $2.39 billion.

Commenting on the quarter, CEO John Hess said:

“In a world that needs reliable, low cost oil and gas resources now and for decades to come, Hess offers a highly differentiated value proposition. As our portfolio becomes increasingly free cash flow positive, we will continue both to invest to grow our company’s intrinsic value and to return capital to our shareholders through further dividend increases and share repurchases.”