Brokerages Expect Hess Corp. (HES) to Post -$1.02 Earnings Per Share

Equities research analysts expect that Hess Corp. (NYSE:HES) will post earnings of ($1.02) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Hess’ earnings. The highest EPS estimate is ($0.86) and the lowest is ($1.49). Hess posted earnings per share of ($1.01) in the same quarter last year, which suggests a negative year-over-year growth rate of 1%. The business is expected to announce its next earnings report before the market opens on Wednesday, January 24th.

According to Zacks, analysts expect that Hess will report full-year earnings of ($4.63) per share for the current year, with EPS estimates ranging from ($4.88) to ($4.45). For the next year, analysts anticipate that the business will post earnings of ($3.35) per share, with EPS estimates ranging from ($4.38) to ($2.45). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Hess.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported ($1.07) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.22. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.27 billion. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The firm’s revenue was up 39.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.12) earnings per share.

Several brokerages have issued reports on HES. Morgan Stanley upped their price target on shares of Hess from $43.00 to $49.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Zacks Investment Research raised shares of Hess from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, October 11th. Scotiabank set a $52.00 price target on shares of Hess and gave the company a “buy” rating in a report on Wednesday, October 25th. Credit Suisse Group began coverage on shares of Hess in a report on Monday, December 11th. They issued an “underperform” rating and a $38.00 price target on the stock. Finally, Barclays reaffirmed a “hold” rating and issued a $49.00 price target on shares of Hess in a report on Monday, January 8th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $51.12.

In related news, COO Gregory P. Hill sold 7,400 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $44.62, for a total transaction of $330,188.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Bluestein R H & Co. acquired a new stake in shares of Hess in the third quarter worth $731,000. Asset Management One Co. Ltd. increased its position in shares of Hess by 0.7% in the third quarter. Asset Management One Co. Ltd. now owns 438,504 shares of the oil and gas producer’s stock worth $20,554,000 after acquiring an additional 3,171 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Hess by 6.5% in the second quarter. Janus Henderson Group PLC now owns 223,277 shares of the oil and gas producer’s stock worth $9,793,000 after acquiring an additional 13,557 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Hess by 9.6% in the second quarter. Artisan Partners Limited Partnership now owns 5,074,723 shares of the oil and gas producer’s stock worth $222,628,000 after acquiring an additional 445,857 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Hess by 1.4% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 238,871 shares of the oil and gas producer’s stock worth $11,201,000 after acquiring an additional 3,238 shares in the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Shares of Hess (HES) opened at $54.54 on Monday. The company has a market cap of $17,330.30, a PE ratio of -2.70 and a beta of 1.77. Hess has a fifty-two week low of $37.25 and a fifty-two 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 business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.83%. The ex-dividend date was Friday, December 15th. Hess’s dividend payout ratio (DPR) is -4.95%.

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Hess Company Profile

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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