Top Diversified Bank Stocks To Buy For 2015

Top Diversified Bank Stocks To Buy For 2015: Hess Corporation (HES)

Hess Corporation, together with its subsidiaries, operates as an independent energy company worldwide. It operates in two segments, Exploration and Production (E&P), and Marketing and Refining (M&R). The E&P segment explores for, develops, produces, purchases, transports, and sells crude oil and natural gas. This segment conducts exploration and production activities principally in Algeria, Australia, Azerbaijan, Brunei, China, Denmark, Egypt, Equatorial Guinea, France, Ghana, Indonesia, the Kurdistan region of Iraq, Libya, Malaysia, Norway, Peru, the Russian Federation, Thailand, the United Kingdom, and the United States. The M&R segment purchases, markets, and trades in refined petroleum products, natural gas, and electricity. This segment serves motoring public, wholesale distributors, industrial and commercial users, other petroleum companies, governmental agencies, and public utilities. It also operates terminals and retail gasoline stations, which include convenience stores located on the East Coast of the United States. As of December 31, 2012, the company operated 1,361 HESS gasoline stations in New York, New Jersey, Pennsylvania, Florida, Massachusetts, North Carolina, and South Carolina. Hess Corporation was founded in 1920 and is headquartered in New York, New York.

Advisors' Opinion:

• [By Ben Levisohn]

  The Danny Adkins day rate went from $474k in May 2011 to $498k working for Shell through Sept-14. Now the rig is slated to work for DGE at $317k for 200 days in the US GOM. Also, the Jim Thompson is expected to complete its contract on Dec-14 at $376k for Shell. Afterwards, the rig will enter the shipyard for 135 days, followed by a one year contract for Hess  (HES) at $300k/day…

• [By Robert Rapier]

  Bakken oil production is a small part of the overall portfol! io of Hess (NYSE: HES), but that's good enough for third place among Bakken producers. Hess reported 80,000 boe/d of Bakken production in Q2 2014, up 25% over Q2 2013.

• [By Jayson Derrick]

  Analysts at Credit Suisse maintained an Outperform rating on Hess (NYSE: HES) with a price target raised to $120 from a previous $110. Shares lost 2.05 percent, closing at $98.98.

• [By Jayson Derrick]

  This morning, Hess (NYSE: HES) reported its second quarter results. The company announced an EPS of $1.38, beating the consensus estimate of $1.16. Revenue of $3.60 billion beat the consensus estimate of $2.54 billion. Net income for the quarter fell to $931 million from $1.431 billion in the same quarter a year ago as oil and gas production fell to 319,000 barrels of oil equivalent per day from 341,000 barrels of oil equivalent in the same quarter a year ago. The company noted that oil and gas production in the Bakken rose 25 percent from a year ago to 80,000 barrels of oil equivalent per day, while well costs fell by 12 percent to an average of $7.4 million per operated well. Hess noted that it is confident that it will deliver five percent to eight percent annual production growth. Finally, the company announced that it will form an MLP consisting of its pipeline and storage assets in North Dakota's Bakken oil shale field and will file with the SEC in the fourth quart er. Shares hit new 52-week highs of $104.50 before closing the day at $101.05, up 1.64 percent.

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