Oil prices are declining due to concerns about the global oversupply of oil, the Wall Street Journal reports.
Additionally, industry experts doubt that OPEC will enact a freeze on oil production, according to the Journal. Some OPEC members will meet to discuss a potential freeze in April.
"The market may have topped out for the short term, as participants await any further signs that the production freezing deal will actually get done," Dominick Chirichella, an analyst at the Energy Management Institute, said in a note, according to the Journal.
Based in New York City, Hess is an exploration and production company focused on crude oil and natural gas.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "sell" with a ratings score of D+. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
You can view the full analysis from the report here: HES