Hess Total Current Liabilities vs Inventory Analysis

HES Stock

USD 148.04 1.22 0.82%

Hess financial indicator trend analysis is much more than just examining Hess latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Hess is a good investment. Please check the relationship between Hess Total Current Liabilities and its Inventory accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hess Corporation. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income.

Total Current Liabilities vs Inventory

Total Current Liabilities vs Inventory Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Hess Total Current Liabilities account and Inventory. At this time, the significance of the direction appears to have strong relationship.

The correlation between Hess' Total Current Liabilities and Inventory is 0.67. Overlapping area represents the amount of variation of Total Current Liabilities that can explain the historical movement of Inventory in the same time period over historical financial statements of Hess Corporation, assuming nothing else is changed. The correlation between historical values of Hess' Total Current Liabilities and Inventory is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Total Current Liabilities of Hess Corporation are associated (or correlated) with its Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Inventory has no effect on the direction of Total Current Liabilities i.e., Hess' Total Current Liabilities and Inventory go up and down completely randomly.

Correlation Coefficient

0.67

Relationship Direction	Positive
Relationship Strength	Significant

View All Relationships

Total Current Liabilities

Total Current Liabilities is an item on Hess balance sheet that include short term debt, accounts payable, accrued salaries payable, payroll taxes payable, accrued liabilities and other debts. Total Current Liabilities of Hess Corporation are important to investors because some useful performance ratios such as Current Ratio and Quick Ratio require Total Current Liabilities to be accurate. The total amount of liabilities that a company is expected to pay within one year, including debts, accounts payable, and other short-term financial obligations.

Inventory

Most indicators from Hess' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Hess current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hess Corporation. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income.

At this time, Hess' Tax Provision is comparatively stable compared to the past year. Sales General And Administrative To Revenue is likely to gain to 0.06 in 2024, despite the fact that Discontinued Operations is likely to grow to (41 M).

	2021	2022	2023	2024 (projected)
Total Operating Expenses	2.5B	3.9B	527M	500.7M
Cost Of Revenue	2.9B	3.4B	7.1B	11.1B

Total Operating Expenses Cost Of Revenue

Hess fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Short Term Debt	Accounts Payable	Common Stock	Current Deferred Revenue	Common Stock Total Equity	Property Plant And Equipment Gross
Total Assets		0.13	0.84	0.81	0.97	0.97	0.15	0.91	-0.03	0.99	0.18	-0.03	0.78	0.73	0.8	0.33	0.84	-0.32	0.91	0.87	-0.01	0.71	0.32	-0.76	0.62	0.4
Short Long Term Debt Total	0.13		-0.07	-0.06	-0.07	0.21	0.82	-0.24	0.33	0.17	0.11	0.33	-0.06	0.36	0.67	-0.54	-0.02	0.34	0.38	-0.06	0.19	-0.14	-0.12	0.08	0.78	0.4
Other Current Liab	0.84	-0.07		0.98	0.78	0.72	0.19	0.78	-0.43	0.8	-0.12	-0.43	0.97	0.73	0.59	0.7	0.96	-0.64	0.87	0.89	0.1	0.94	0.59	-0.96	0.4	0.27
Total Current Liabilities	0.81	-0.06	0.98		0.74	0.68	0.21	0.72	-0.44	0.77	-0.12	-0.44	0.98	0.77	0.57	0.67	0.92	-0.58	0.86	0.89	0.24	0.93	0.54	-0.95	0.39	0.36
Total Stockholder Equity	0.97	-0.07	0.78	0.74		0.95	-0.08	0.97	0.01	0.96	0.23	0.01	0.7	0.59	0.65	0.35	0.77	-0.29	0.78	0.85	-0.09	0.64	0.24	-0.68	0.45	0.3
Property Plant And Equipment Net	0.97	0.21	0.72	0.68	0.95		0.17	0.88	0.07	0.99	0.25	0.07	0.64	0.64	0.83	0.18	0.73	-0.2	0.86	0.76	-0.09	0.57	0.21	-0.63	0.66	0.38
Net Debt	0.15	0.82	0.19	0.21	-0.08	0.17		-0.19	-0.27	0.19	-0.03	-0.27	0.23	0.39	0.63	-0.12	0.18	0.05	0.5	-0.03	0.22	0.15	0.1	-0.19	0.6	0.43
Retained Earnings	0.91	-0.24	0.78	0.72	0.97	0.88	-0.19		-0.09	0.9	0.19	-0.09	0.68	0.45	0.52	0.49	0.78	-0.38	0.69	0.81	-0.18	0.66	0.27	-0.68	0.28	0.15
Cash	-0.03	0.33	-0.43	-0.44	0.01	0.07	-0.27	-0.09		-0.03	0.23	1.0	-0.47	-0.04	0.08	-0.71	-0.32	0.49	-0.17	-0.04	-0.04	-0.49	-0.37	0.45	0.32	-0.03
Non Current Assets Total	0.99	0.17	0.8	0.77	0.96	0.99	0.19	0.9	-0.03		0.23	-0.03	0.73	0.68	0.83	0.28	0.8	-0.28	0.9	0.81	-0.05	0.65	0.28	-0.71	0.63	0.41
Non Currrent Assets Other	0.18	0.11	-0.12	-0.12	0.23	0.25	-0.03	0.19	0.23	0.23		0.23	-0.19	-0.16	0.19	-0.42	-0.21	0.26	0.06	-0.09	-0.1	-0.36	-0.22	0.29	0.06	0.47
Cash And Short Term Investments	-0.03	0.33	-0.43	-0.44	0.01	0.07	-0.27	-0.09	1.0	-0.03	0.23		-0.47	-0.04	0.08	-0.71	-0.32	0.49	-0.17	-0.04	-0.04	-0.49	-0.37	0.45	0.32	-0.03
Net Receivables	0.78	-0.06	0.97	0.98	0.7	0.64	0.23	0.68	-0.47	0.73	-0.19	-0.47		0.79	0.56	0.67	0.92	-0.66	0.85	0.87	0.17	0.96	0.65	-0.97	0.4	0.33
Common Stock Shares Outstanding	0.73	0.36	0.73	0.77	0.59	0.64	0.39	0.45	-0.04	0.68	-0.16	-0.04	0.79		0.73	0.16	0.71	-0.25	0.85	0.81	0.31	0.67	0.39	-0.73	0.75	0.52
Non Current Liabilities Total	0.8	0.67	0.59	0.57	0.65	0.83	0.63	0.52	0.08	0.83	0.19	0.08	0.56	0.73		-0.03	0.62	-0.11	0.91	0.58	0.02	0.46	0.25	-0.54	0.89	0.52
Inventory	0.33	-0.54	0.7	0.67	0.35	0.18	-0.12	0.49	-0.71	0.28	-0.42	-0.71	0.67	0.16	-0.03		0.66	-0.73	0.32	0.48	-0.01	0.79	0.52	-0.73	-0.27	-0.23
Other Current Assets	0.84	-0.02	0.96	0.92	0.77	0.73	0.18	0.78	-0.32	0.8	-0.21	-0.32	0.92	0.71	0.62	0.66		-0.63	0.86	0.89	-0.05	0.93	0.58	-0.93	0.43	0.11
Other Stockholder Equity	-0.32	0.34	-0.64	-0.58	-0.29	-0.2	0.05	-0.38	0.49	-0.28	0.26	0.49	-0.66	-0.25	-0.11	-0.73	-0.63		-0.36	-0.46	0.33	-0.77	-0.95	0.73	0.0	0.16
Total Liab	0.91	0.38	0.87	0.86	0.78	0.86	0.5	0.69	-0.17	0.9	0.06	-0.17	0.85	0.85	0.91	0.32	0.86	-0.36		0.81	0.13	0.76	0.43	-0.82	0.75	0.51
Total Current Assets	0.87	-0.06	0.89	0.89	0.85	0.76	-0.03	0.81	-0.04	0.81	-0.09	-0.04	0.87	0.81	0.58	0.48	0.89	-0.46	0.81		0.14	0.82	0.44	-0.85	0.48	0.27
Short Term Debt	-0.01	0.19	0.1	0.24	-0.09	-0.09	0.22	-0.18	-0.04	-0.05	-0.1	-0.04	0.17	0.31	0.02	-0.01	-0.05	0.33	0.13	0.14		0.04	-0.28	-0.09	0.11	0.49
Accounts Payable	0.71	-0.14	0.94	0.93	0.64	0.57	0.15	0.66	-0.49	0.65	-0.36	-0.49	0.96	0.67	0.46	0.79	0.93	-0.77	0.76	0.82	0.04		0.73	-0.98	0.32	0.1
Common Stock	0.32	-0.12	0.59	0.54	0.24	0.21	0.1	0.27	-0.37	0.28	-0.22	-0.37	0.65	0.39	0.25	0.52	0.58	-0.95	0.43	0.44	-0.28	0.73		-0.71	0.21	0.0
Current Deferred Revenue	-0.76	0.08	-0.96	-0.95	-0.68	-0.63	-0.19	-0.68	0.45	-0.71	0.29	0.45	-0.97	-0.73	-0.54	-0.73	-0.93	0.73	-0.82	-0.85	-0.09	-0.98	-0.71		-0.4	-0.18
Common Stock Total Equity	0.62	0.78	0.4	0.39	0.45	0.66	0.6	0.28	0.32	0.63	0.06	0.32	0.4	0.75	0.89	-0.27	0.43	0.0	0.75	0.48	0.11	0.32	0.21	-0.4		0.47
Property Plant And Equipment Gross	0.4	0.4	0.27	0.36	0.3	0.38	0.43	0.15	-0.03	0.41	0.47	-0.03	0.33	0.52	0.52	-0.23	0.11	0.16	0.51	0.27	0.49	0.1	0.0	-0.18	0.47

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Hess Account Relationship Matchups

Hess fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	21.8B	18.8B	20.5B	21.7B	24.0B	20.3B
Short Long Term Debt Total	7.9B	9.1B	9.1B	9.2B	9.6B	5.1B
Other Current Liab	2.3B	1.5B	2.5B	1.6B	2.6B	2.3B
Total Current Liabilities	2.5B	1.6B	3.1B	2.3B	3.3B	3.8B
Total Stockholder Equity	8.7B	5.4B	6.3B	8.0B	9.0B	8.8B
Property Plant And Equipment Net	17.6B	14.7B	14.7B	15.8B	18.3B	13.4B
Net Debt	6.4B	7.3B	6.4B	6.7B	7.9B	4.1B
Retained Earnings	3.5B	130M	379M	1.5B	2.3B	2.2B
Cash	1.5B	1.7B	2.7B	2.5B	1.7B	1.1B
Non Current Assets Total	18.6B	15.7B	16.2B	17.8B	20.6B	15.8B
Non Currrent Assets Other	1.1B	1.0B	1.5B	1.5B	2.3B	2.4B
Cash And Short Term Investments	1.5B	1.7B	2.7B	2.5B	1.7B	1.1B
Net Receivables	1.2B	860M	1.2B	1.2B	1.3B	2.1B
Common Stock Shares Outstanding	301.2M	304.8M	309.3M	309.6M	307.6M	318.7M
Liabilities And Stockholders Equity	21.8B	18.8B	20.5B	21.7B	24.0B	20.3B
Non Current Liabilities Total	9.6B	10.9B	10.4B	10.8B	11.1B	7.5B
Inventory	261M	378M	223M	217M	304M	288.8M
Other Current Assets	1.6B	1.3B	1.6B	1.4B	108M	102.6M
Other Stockholder Equity	5.6B	5.7B	6.0B	6.3B	6.5B	6.8B
Total Liab	12.1B	12.5B	13.5B	13.1B	14.4B	11.3B
Total Current Assets	3.2B	3.1B	4.3B	3.9B	3.4B	4.5B
Short Term Debt	199M	91M	606M	224M	681M	715.1M
Accounts Payable	411M	200M	220M	285M	402M	381.9M
Accumulated Other Comprehensive Income	(699M)	(755M)	(406M)	(131M)	(134M)	(140.7M)
Common Stock	291M	305M	307M	310M	306M	291.7M
Current Deferred Revenue	(411M)	(200M)	(220M)	133M	(402M)	(422.1M)
Common Stock Total Equity	305M	307M	310M	306M	351.9M	241.0M
Property Plant And Equipment Gross	17.6B	14.7B	31.2B	32.6B	37.6B	39.5B
Other Liab	1.8B	1.9B	1.9B	1.9B	2.2B	2.4B
Other Assets	705M	1.3B	1.5B	2.0B	2.3B	1.8B
Long Term Debt	7.1B	8.3B	7.9B	8.3B	8.3B	6.2B
Property Plant Equipment	16.8B	14.1B	14.7B	15.8B	18.2B	18.2B
Noncontrolling Interest In Consolidated Entity	974M	969M	726M	641M	737.2M	656.5M
Retained Earnings Total Equity	3.5B	130M	379M	1.5B	1.3B	1.3B
Deferred Long Term Liab	415M	342M	383M	418M	376.2M	357.4M

Pair Trading with Hess

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Hess position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Hess will appreciate offsetting losses from the drop in the long position's value.

Moving together with Hess Stock

0.62	AR	Antero Resources Corp	Pair Corr
0.76	SM	SM Energy	Pair Corr

Moving against Hess Stock

0.52

CEI

Camber Energy

Pair Corr

The ability to find closely correlated positions to Hess could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hess when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Hess - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Hess Corporation to buy it.

The correlation of Hess is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hess moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hess moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Hess can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for Hess Stock Analysis

When running Hess' price analysis, check to measure Hess' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Hess is operating at the current time. Most of Hess' value examination focuses on studying past and present price action to predict the probability of Hess' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hess' price. Additionally, you may evaluate how the addition of Hess to your portfolios can decrease your overall portfolio volatility.

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