Brokerages expect Hess Corp. (NYSE:HES) to report $0.02 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Hess’ earnings. The highest EPS estimate is $0.75 and the lowest is ($0.29). Hess reported earnings of ($1.01) per share during the same quarter last year, which would indicate a positive year over year growth rate of 102%. The company is expected to report its next quarterly earnings report on Monday, February 4th.
On average, analysts expect that Hess will report full year earnings of $0.02 per share for the current financial year, with EPS estimates ranging from ($0.41) to $0.68. For the next year, analysts expect that the business will post earnings of $1.00 per share, with EPS estimates ranging from ($1.05) to $3.02. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Hess.
Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.43. Hess had a negative return on equity of 2.65% and a negative net margin of 47.06%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm earned ($1.07) earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis.
Several equities research analysts recently commented on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $63.00 price target on shares of Hess in a report on Tuesday, November 13th. Zacks Investment Research cut Hess from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Credit Suisse Group set a $61.00 price target on Hess and gave the company a “hold” rating in a report on Wednesday, October 31st. Sanford C. Bernstein assumed coverage on Hess in a research note on Thursday, September 27th. They set an “outperform” rating and a $89.00 target price for the company. Finally, Morgan Stanley reissued a “buy” rating and set a $92.00 target price (up previously from $87.00) on shares of Hess in a research note on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Hess presently has a consensus rating of “Hold” and a consensus price target of $67.08.
NYSE:HES opened at $53.89 on Monday. Hess has a one year low of $40.37 and a one year high of $74.81. The company has a quick ratio of 2.16, a current ratio of 2.30 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $15.97 billion, a P/E ratio of -11.69, a P/E/G ratio of 538.90 and a beta of 1.56.
In related news, insider Michael R. Turner sold 4,142 shares of Hess stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $56.82, for a total value of $235,348.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.09% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in HES. Legal & General Group Plc lifted its holdings in Hess by 3.0% during the 3rd quarter. Legal & General Group Plc now owns 1,410,643 shares of the oil and gas producer’s stock worth $101,026,000 after buying an additional 41,581 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Hess by 5,108.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 9,376 shares of the oil and gas producer’s stock worth $131,000 after buying an additional 9,196 shares during the last quarter. Impala Asset Management LLC lifted its holdings in Hess by 8.3% during the 3rd quarter. Impala Asset Management LLC now owns 2,562,231 shares of the oil and gas producer’s stock worth $183,404,000 after buying an additional 196,125 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Hess by 49.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 12,520 shares of the oil and gas producer’s stock worth $896,000 after buying an additional 4,130 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in Hess during the 3rd quarter worth about $1,949,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.
Hess Corporation, an exploration and production company, 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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