Hess (NYSE:HES) Reports Earnings - Best Stocks Alert

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Hess Corp. (NYSE:HES) fell 2.13% to $56.58 after its third-quarter net income fell to $341 million, or $1.05 a share, from $775 million, or $2.37 a share in the year-ago period. The New York-based oil and gas company increased its production by 16% to 420,000 barrels a day, from 361,000 barrels a day. Revenue fell to $7.38 billion from $11.4 billion. Wall Street analysts expected net income of 52 cents a share, according to a survey by FactSet Research. Exploration and Production results included after-tax income of $89 million related to the resolution of a U.S. royalty dispute. Capital and exploratory expenditures fell to $668 million, from $1.37 billion.

Hess Corporation (Hess) is a global integrated energy company that 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.