Strength Seen in Hess (HES): Can Its 4.8% Jump Turn into More Strength?

Hess (HES) shares ended the last trading session 4.8% higher at $150.23. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.9% gain over the past four weeks.With significant stakes in world-class oil discoveries offshore Guyana, Hess Corporation is a prominent upstream energy company focused on exploration and production. The company is a key partner in the ExxonMobil-led consortium that continues to report high-quality discoveries in the Stabroek Block—one of the most prolific oil plays globally. These discoveries, combined with a favorable oil price environment, enhance Hess’s long-term production visibility and cash flow potential. As a result, Hess is well-positioned to benefit from continued exploration success and rising upstream valuations.This oil and gas producer is expected to post quarterly earnings of $1.28 per share in its upcoming report, which represents a year-over-year change of -51.2%. Revenues are expected to be $2.67 billion, down 18.1% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Hess, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HES going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Hess is part of the Zacks Oil and Gas - Integrated - United States industry. Calumet, Inc. (CLMT), another stock in the same industry, closed the last trading session 1.7% lower at $16.35. CLMT has returned 26.4% in the past month.Calumet, Inc.'s consensus EPS estimate for the upcoming report has changed -1.1% over the past month to -$0.42. Compared to the company's year-ago EPS, this represents a change of +12.5%. Calumet, Inc. currently boasts a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hess Corporation (HES): Free Stock Analysis Report Calumet, Inc. (CLMT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks