NEW YORK (TheStreet) -- Hess (HES) - Get Report stock is rising by 1.76% to $60.68 in mid-morning trading on Wednesday, after the company reported a narrower than estimated loss for the second quarter of 2015.
The company posted a loss of 52 cents per diluted share for the second quarter of 2015, compared with earnings of $1.38 per share for the second quarter of 2014.
Revenue fell to $1.94 billion for the second quarter of this year, compared with $3.58 billion for the same period of last year.
Analysts had estimated for a loss of 72 cents per share on revenue of $1.58 billion for the 2015 second quarter.
Hess sold crude oil for an average of $55.83 per barrel in the second quarter of 2015, down 45% from $102.16 per barrel in the same period last year.
Crude oil prices are falling again today, with U.S. crude decreasing by 0.48% to $47.75 a barrel, while Brent crude is down by 0.49% to $53.04 per barrel this morning, according to the CNBC.com index.
Separately, TheStreet Ratings team rates HESS CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate HESS CORP (HES) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."
You can view the full analysis from the report here: HES Ratings Report