Brokerages expect that Hess Corp. (NYSE:HES) will post earnings of ($0.34) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Hess’ earnings, with the lowest EPS estimate coming in at ($0.43) and the highest estimate coming in at ($0.20). Hess posted earnings of ($0.31) per share during the same quarter last year, which would indicate a negative year over year growth rate of 9.7%. The firm is expected to issue its next earnings report on Wednesday, January 29th.
On average, analysts expect that Hess will report full year earnings of ($0.69) per share for the current fiscal year, with EPS estimates ranging from ($0.74) to ($0.64). For the next year, analysts anticipate that the firm will post earnings of ($0.37) per share, with EPS estimates ranging from ($1.30) to $1.16. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Hess.
Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Hess had a negative net margin of 2.82% and a negative return on equity of 1.62%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was down 17.1% compared to the same quarter last year.
A number of analysts recently issued reports on HES shares. Scotiabank initiated coverage on Hess in a research report on Tuesday, November 12th. They issued an “underperform” rating on the stock. ValuEngine raised Hess from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Citigroup initiated coverage on Hess in a research report on Monday, September 23rd. They set a “neutral” rating and a $70.00 target price on the stock. Cfra downgraded Hess from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Finally, Bank of America reiterated a “buy” rating and issued a $80.00 price target (up previously from $75.00) on shares of Hess in a research report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $69.73.
In other news, CEO John B. Hess sold 14,344 shares of Hess stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $65.01, for a total transaction of $932,503.44. Following the completion of the transaction, the chief executive officer now directly owns 1,385,167 shares in the company, valued at approximately $90,049,706.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael R. Turner sold 32,746 shares of Hess stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $69.00, for a total value of $2,259,474.00. Following the transaction, the senior vice president now owns 54,904 shares of the company’s stock, valued at $3,788,376. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,568 shares of company stock worth $8,326,625. Corporate insiders own 12.22% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wetherby Asset Management Inc. boosted its stake in shares of Hess by 30.1% during the 2nd quarter. Wetherby Asset Management Inc. now owns 9,202 shares of the oil and gas producer’s stock worth $585,000 after acquiring an additional 2,127 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Hess in the 2nd quarter valued at $29,000. Creative Planning raised its position in Hess by 14.0% in the 2nd quarter. Creative Planning now owns 7,188 shares of the oil and gas producer’s stock valued at $457,000 after purchasing an additional 884 shares during the last quarter. Advisor Partners LLC boosted its stake in Hess by 20.6% in the second quarter. Advisor Partners LLC now owns 22,853 shares of the oil and gas producer’s stock worth $1,453,000 after purchasing an additional 3,897 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Hess by 233.0% in the second quarter. SG Americas Securities LLC now owns 28,201 shares of the oil and gas producer’s stock worth $1,793,000 after purchasing an additional 19,732 shares in the last quarter. Institutional investors and hedge funds own 86.66% of the company’s stock.
Shares of Hess stock traded up $1.53 during trading hours on Wednesday, reaching $61.32. 148,172 shares of the company’s stock were exchanged, compared to its average volume of 2,559,173. The stock has a market cap of $18.92 billion, a P/E ratio of -82.78 and a beta of 2.01. The company has a 50 day moving average of $66.56 and a two-hundred day moving average of $62.83. The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 0.70. Hess has a fifty-two week low of $35.59 and a fifty-two week high of $74.11.
Hess Company Profile
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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