Hess Beats Estimates; PSX Profit Doubles -- October 29, 2014

Updates

PSX: profit doubles; beats by 27 cents; costs slide; 

Hess: beats estimates; Bakken production surges; shares up:

Hess posted a better-than-expected quarterly profit on Wednesday as production jumped in North Dakota's Bakken shale formation.

Net income surged to $1 billion, or $3.31 per share, in the third quarter from $420 million, or $1.23 per share, in the year-ago period.

Excluding recent asset sales and other one-time items, the company posted profit of $1.24 per share.

Southern Company (SO): beats by 2 cents;

Newfield: beats by one cent (yesterday)

SM Energy: misses by two cents (yesterday)

PSXP: misses by three cents

STR: beats by four cents

WLL: which is it?

• AP headline: Whiting misses Street 3Q forecasts ($1.24 vs $1.25)
• Reuters: Whiting profit beats Street as North Dakota output jumps; 

Whiting Petroleum Corp posted a higher-than-expected quarterly profit on Wednesday as production rose 33 percent at its North Dakota wells. Denver-based Whiting posted net income of $158 million, or $1.32 per share, compared with $204 million, or $1.71 per share, in the year-ago period. Excluding one-time items, the company earned $1.24 per share. By that measure, analysts expected earnings of $1.21 per share, according to Thomson Reuters I/B/E/S.

WMB: misses by 3 cents but confirms dividend-growth guidance of ~ 15% annually -- from the higher 3Q14 base -- through 2017 with planned dividends of ~ $1.96 in 2014, $2.46 in 2015, $2.82 in 2016, $3.25 in 2017. Shares surge over 3%.

WPZ: Williams Cos profit soars; boosted by Access Midstream stake; shares up 2%

Original Post

According to Yahoo!Finance. But sometimes Yahoo!Finance is wrong. So we will just have to wait and see.

If they do report, expectations:

• Hess: $1.08
• KOG: 20 cents;
• Phillips 66 (PSX): $1.75 at 8:00 a.m. EDT
• PSX partners (PSXP): 40 cents at 8:45 a.m. EDT
• Qusestar (STR): 18 cents after market close
• Southern Co (SO): $1.07 at 7:30 a.m. EDT
• Statoil at 2:00 a.m. EDT
• Whiting (WLL): $1.22 after market close
• Williams (WMB): 19 cents after market close
• WMB partners (WPZ): 39 cents after market close

... and a whole bunch more ...

This is not an investment site. Do not make any investment, financial, or relationship decisions based on anything you read here or think you may have read here.

Regarding KOG. Would this be a good poll? Will the deal with Whiting happen? Less than 2% of outstanding shares are held by insiders. According to Yahoo!Finance more than 75% of outstanding shares are held by institutions. The vote is December 3, 2014.

Again, this is not an investment site, but I could not possibly be more upbeat about the market right now. So many stories. If one has a long horizon. Huge opportunities. A lot of dots to connect. But again, this is not an investment site. Do not make any investment, financial, or relationship decisions based on anything you read here or think you may have read here.

In a long note with a lot of numbers, I make factual and typographical errors; if this information is important to you go to the source.