$0.02 EPS Expected for Hess Corp. (HES) This Quarter

Equities research analysts expect Hess Corp. (NYSE:HES) to post earnings per share of $0.02 for the current quarter, according to Zacks. Two analysts have issued estimates for Hess’ earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at ($0.29). Hess posted earnings of ($1.01) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 102%. The firm is expected to issue its next quarterly earnings results on Monday, February 4th.

According to Zacks, analysts expect that Hess will report full year earnings of $0.02 per share for the current year, with EPS estimates ranging from ($0.41) to $0.68. For the next year, analysts expect that the business will post earnings of $1.02 per share, with EPS estimates ranging from ($0.86) to $3.02. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Hess.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm earned ($1.07) EPS. Hess’s revenue was up 11.2% on a year-over-year basis.

A number of brokerages have weighed in on HES. JPMorgan Chase & Co. set a $57.00 target price on Hess and gave the stock a “sell” rating in a research report on Friday. Stephens began coverage on Hess in a research report on Thursday. They issued an “overweight” rating and a $75.00 target price for the company. MKM Partners began coverage on Hess in a research report on Wednesday. They issued a “buy” rating and a $73.00 target price for the company. BMO Capital Markets set a $63.00 target price on Hess and gave the stock a “hold” rating in a research report on Tuesday. Finally, Credit Suisse Group set a $61.00 target price on Hess and gave the stock a “hold” rating in a research report on Monday, December 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $68.87.

NYSE:HES traded down $0.76 during mid-day trading on Monday, reaching $52.61. The company’s stock had a trading volume of 4,347,364 shares, compared to its average volume of 3,258,993. Hess has a 12-month low of $40.37 and a 12-month high of $74.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.16 and a current ratio of 2.30. The firm has a market cap of $15.81 billion, a price-to-earnings ratio of -11.41, a price-to-earnings-growth ratio of 533.70 and a beta of 1.55.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Hess’s dividend payout ratio (DPR) is presently -21.69%.

In related news, insider Michael R. Turner sold 4,142 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $56.82, for a total transaction of $235,348.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.09% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new position in shares of Hess during the 2nd quarter valued at approximately $104,000. Palo Capital Inc. bought a new position in shares of Hess during the 3rd quarter valued at approximately $116,000. Point72 Hong Kong Ltd bought a new position in shares of Hess during the 3rd quarter valued at approximately $131,000. Rehmann Capital Advisory Group grew its stake in shares of 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 valued at $131,000 after acquiring an additional 9,196 shares during the period. Finally, Permanens Capital L.P. bought a new position in shares of Hess during the 3rd quarter valued at approximately $136,000. Institutional investors own 87.50% of the company’s stock.

About Hess

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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