Hess (NYSE:HES) announced its quarterly earnings data on Monday. The oil and gas producer reported ($1.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.10), Bloomberg Earnings reports. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. Hess had a negative net margin of 113.21% and a negative return on equity of 9.30%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the company earned ($1.01) EPS.
Hess (NYSE HES) opened at $44.49 on Tuesday. Hess has a 52-week low of $37.25 and a 52-week high of $55.48. The company has a quick ratio of 1.68, a current ratio of 1.84 and a debt-to-equity ratio of 0.46.
HES has been the subject of several research analyst reports. Scotiabank set a $50.00 price objective on Hess and gave the company a “buy” rating in a report on Friday, November 17th. Zacks Investment Research raised Hess from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Wednesday, October 11th. Morgan Stanley upped their target price on Hess from $43.00 to $49.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. BMO Capital Markets set a $45.00 target price on Hess and gave the company a “hold” rating in a report on Tuesday, October 10th. Finally, Barclays reaffirmed a “hold” rating and set a $49.00 target price on shares of Hess in a report on Monday, January 8th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $52.40.
In related news, COO Gregory P. Hill sold 7,400 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $44.62, for a total transaction of $330,188.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.80% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Stephens Inc. AR acquired a new position in Hess during the fourth quarter valued at $203,000. Public Employees Retirement Association of Colorado raised its position in Hess by 3.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 55,888 shares of the oil and gas producer’s stock valued at $2,653,000 after buying an additional 1,805 shares during the period. CI Investments Inc. acquired a new position in Hess during the fourth quarter valued at $2,084,000. SeaCrest Wealth Management LLC acquired a new position in Hess during the fourth quarter valued at $197,000. Finally, US Bancorp DE raised its position in Hess by 4.8% during the fourth quarter. US Bancorp DE now owns 31,294 shares of the oil and gas producer’s stock valued at $1,485,000 after buying an additional 1,445 shares during the period. 89.85% of the stock is currently owned by hedge funds and other institutional investors.
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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