Analysts forecast that Hess Corp. (NYSE:HES) will report $1.27 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Hess’ earnings. The highest sales estimate is $1.30 billion and the lowest is $1.25 billion. Hess posted sales of $1.39 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 8.6%. The business is expected to report its next quarterly earnings report before the market opens on Monday, February 5th.

According to Zacks, analysts expect that Hess will report full year sales of $1.27 billion for the current financial year, with estimates ranging from $5.11 billion to $5.47 billion. For the next year, analysts anticipate that the firm will post sales of $5.07 billion per share, with estimates ranging from $4.91 billion to $5.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Hess.

Hess (NYSE:HES) last announced its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.22. Hess had a negative return on equity of 9.30% and a negative net margin of 113.21%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company earned ($1.12) EPS. The firm’s revenue for the quarter was up 39.3% compared to the same quarter last year.

Several brokerages recently commented on HES. BMO Capital Markets restated a “hold” rating and set a $50.00 target price on shares of Hess in a research report on Thursday, January 11th. Scotiabank set a $50.00 target price on Hess and gave the company a “buy” rating in a research report on Friday, November 17th. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Thursday, November 9th. JPMorgan Chase & Co. lowered Hess from a “neutral” rating to an “underweight” rating and set a $44.00 target price on the stock. in a research report on Friday, December 15th. Finally, Credit Suisse Group began coverage on Hess in a research report on Monday, December 11th. They set an “underperform” rating and a $38.00 target price on the stock. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $51.12.

Shares of Hess (HES) traded down $1.00 during trading on Wednesday, hitting $53.54. The company had a trading volume of 5,032,300 shares, compared to its average volume of 4,234,070. Hess has a 52 week low of $37.25 and a 52 week high of $60.13. The company has a current ratio of 1.84, a quick ratio of 1.68 and a debt-to-equity ratio of 0.46. The company has a market cap of $17,270.00, a price-to-earnings ratio of -2.65 and a beta of 1.77.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $1.00 annualized dividend and a yield of 1.87%. Hess’s payout ratio is currently -4.95%.

In other Hess news, COO Gregory P. Hill sold 7,400 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $44.62, for a total value of $330,188.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of HES. Federated Investors Inc. PA raised its stake in shares of Hess by 287.9% in the second quarter. Federated Investors Inc. PA now owns 5,148 shares of the oil and gas producer’s stock worth $226,000 after purchasing an additional 3,821 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Hess by 7.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,464 shares of the oil and gas producer’s stock worth $108,000 after purchasing an additional 167 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Hess by 17.3% in the second quarter. Franklin Resources Inc. now owns 365,997 shares of the oil and gas producer’s stock worth $16,057,000 after purchasing an additional 53,995 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Hess by 10.4% in the second quarter. Riverhead Capital Management LLC now owns 8,027 shares of the oil and gas producer’s stock worth $352,000 after purchasing an additional 755 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Hess by 2.7% in the second quarter. TIAA CREF Investment Management LLC now owns 816,616 shares of the oil and gas producer’s stock worth $35,825,000 after purchasing an additional 21,415 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

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About Hess

Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

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