Wall Street brokerages expect that Hess Corp. (NYSE:HES) will report earnings per share (EPS) of ($0.06) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Hess’ earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at $0.03. Hess posted earnings per share of $0.09 during the same quarter last year, which would indicate a negative year-over-year growth rate of 166.7%. The business is expected to announce its next earnings report on Thursday, April 23rd.
According to Zacks, analysts expect that Hess will report full-year earnings of ($0.06) per share for the current fiscal year, with EPS estimates ranging from ($1.06) to $0.46. For the next year, analysts forecast that the firm will report earnings of $0.22 per share, with EPS estimates ranging from ($1.67) to $1.68. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Hess.
Hess (NYSE:HES) last posted its earnings results on Wednesday, January 29th. The oil and gas producer reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.04). Hess had a negative return on equity of 2.68% and a negative net margin of 6.16%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted ($0.31) EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year.
Several equities research analysts have recently weighed in on HES shares. Scotiabank raised shares of Hess from a “sector underperform” rating to a “sector outperform” rating and set a $79.00 target price on the stock in a report on Thursday, January 30th. Howard Weil started coverage on shares of Hess in a report on Wednesday, November 13th. They issued a “sector underperform” rating on the stock. Susquehanna Bancshares started coverage on shares of Hess in a report on Tuesday, January 14th. They issued a “positive” rating and a $82.00 target price on the stock. Cfra lowered shares of Hess from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Finally, Piper Sandler raised shares of Hess from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $75.00 to $77.00 in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. Hess currently has a consensus rating of “Buy” and a consensus target price of $74.46.
In other Hess news, SVP Geurt G. Schoonman sold 5,070 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $57.68, for a total transaction of $292,437.60. Following the sale, the senior vice president now owns 45,218 shares of the company’s stock, valued at approximately $2,608,174.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John P. Rielly sold 49,740 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $70.54, for a total transaction of $3,508,659.60. Following the sale, the chief financial officer now directly owns 238,859 shares in the company, valued at approximately $16,849,113.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 342,404 shares of company stock worth $20,407,635. Insiders own 12.22% of the company’s stock.
A number of large investors have recently modified their holdings of HES. Savior LLC acquired a new position in Hess during the 4th quarter valued at about $31,000. Valeo Financial Advisors LLC lifted its position in Hess by 410.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 510 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 410 shares during the period. Ropes Wealth Advisors LLC lifted its position in Hess by 625.0% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 580 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 500 shares during the period. Synovus Financial Corp lifted its position in Hess by 136.2% during the 4th quarter. Synovus Financial Corp now owns 626 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 361 shares during the period. Finally, Covenant Multifamily Offices LLC acquired a new position in Hess during the 4th quarter valued at about $44,000. 86.77% of the stock is currently owned by hedge funds and other institutional investors.
HES opened at $58.77 on Monday. The firm’s 50-day simple moving average is $64.59 and its 200-day simple moving average is $64.12. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 1.26. Hess has a twelve month low of $53.58 and a twelve month high of $74.11. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of -43.86 and a beta of 2.04.
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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