Equities analysts expect Hess Corp. (NYSE:HES) to announce ($0.54) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Hess’ earnings. The lowest EPS estimate is ($0.81) and the highest is ($0.41). Hess posted earnings per share of ($1.07) during the same quarter last year, which suggests a positive year over year growth rate of 49.5%. The company is scheduled to issue its next earnings results on Wednesday, April 25th.
On average, analysts expect that Hess will report full-year earnings of ($2.02) per share for the current fiscal year, with EPS estimates ranging from ($3.13) to ($0.87). For the next year, analysts anticipate that the firm will post earnings of ($0.94) per share, with EPS estimates ranging from ($2.23) to $0.85. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Hess.
Hess (NYSE:HES) last released its earnings results on Monday, February 5th. The oil and gas producer reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.10). Hess had a negative net margin of 74.55% and a negative return on equity of 9.82%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted ($1.01) EPS. The company’s revenue was down 6.5% on a year-over-year basis.
In other news, CEO John B. Hess sold 51,014 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $48.63, for a total value of $2,480,810.82. Following the completion of the transaction, the chief executive officer now owns 1,813,548 shares of the company’s stock, valued at approximately $88,192,839.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy B. Goodell sold 3,808 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $47.56, for a total value of $181,108.48. Following the completion of the transaction, the senior vice president now directly owns 106,866 shares of the company’s stock, valued at approximately $5,082,546.96. The disclosure for this sale can be found here. Insiders have sold a total of 174,017 shares of company stock valued at $7,981,459 in the last ninety days. 11.80% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. CoreCommodity Management LLC bought a new position in shares of Hess in the 4th quarter worth approximately $108,000. Tower Research Capital LLC TRC raised its position in shares of Hess by 453.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,651 shares of the oil and gas producer’s stock worth $126,000 after acquiring an additional 2,172 shares in the last quarter. Legacy Advisors LLC bought a new position in shares of Hess in the 3rd quarter worth approximately $134,000. NuWave Investment Management LLC bought a new position in shares of Hess in the 4th quarter worth approximately $141,000. Finally, Icon Wealth Partners LLC bought a new position in shares of Hess in the 4th quarter worth approximately $145,000. 91.79% of the stock is owned by hedge funds and other institutional investors.
Hess (NYSE HES) traded up $1.76 during midday trading on Tuesday, hitting $48.46. The stock had a trading volume of 4,412,875 shares, compared to its average volume of 4,846,555. Hess has a 12 month low of $37.25 and a 12 month high of $55.48. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.43 and a current ratio of 2.53. The company has a market cap of $15,267.52, a price-to-earnings ratio of -3.69 and a beta of 1.60.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 19th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, March 16th. Hess’s payout ratio is -7.62%.
Hess declared that its board has approved a share repurchase plan on Thursday, March 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and gas producer to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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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