Hess Corp. (NYSE:HES) – Equities researchers at Capital One Financial issued their Q3 2019 earnings per share (EPS) estimates for shares of Hess in a note issued to investors on Monday, April 22nd, Zacks Investment Research reports. Capital One Financial analyst P. Johnston anticipates that the oil and gas producer will earn ($0.08) per share for the quarter. Capital One Financial also issued estimates for Hess’ Q4 2019 earnings at ($0.07) EPS and FY2020 earnings at $0.21 EPS.
A number of other research analysts also recently weighed in on the company. Morgan Stanley set a $63.00 price target on Hess and gave the company a “buy” rating in a report on Tuesday, January 29th. ValuEngine raised Hess from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Zacks Investment Research upgraded Hess from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Tuesday. Stephens lowered Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 price objective on the stock. in a research note on Tuesday, January 29th. They noted that the move was a valuation call. Finally, MKM Partners reiterated a “neutral” rating and issued a $71.00 price objective on shares of Hess in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Hess presently has an average rating of “Hold” and a consensus price target of $68.69.
Shares of NYSE HES traded up $0.40 during mid-day trading on Wednesday, reaching $64.52. The company had a trading volume of 16,215 shares, compared to its average volume of 3,909,513. The company has a quick ratio of 1.91, a current ratio of 1.69 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $19.73 billion, a price-to-earnings ratio of -87.88 and a beta of 1.95. Hess has a 1-year low of $35.59 and a 1-year high of $74.81.
Hess (NYSE:HES) last announced its earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.35. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.43 billion. Hess had a positive return on equity of 0.20% and a negative net margin of 0.75%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Hess during the 4th quarter worth about $106,016,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Hess by 53.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,563,894 shares of the oil and gas producer’s stock worth $265,837,000 after acquiring an additional 2,284,770 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Hess by 3,900.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,108,647 shares of the oil and gas producer’s stock worth $27,000 after acquiring an additional 1,080,934 shares during the last quarter. Millennium Management LLC lifted its position in Hess by 24.2% during the fourth quarter. Millennium Management LLC now owns 1,999,102 shares of the oil and gas producer’s stock worth $80,964,000 after acquiring an additional 389,268 shares during the last quarter. Finally, United Services Automobile Association lifted its position in Hess by 146.7% during the fourth quarter. United Services Automobile Association now owns 641,800 shares of the oil and gas producer’s stock worth $25,993,000 after acquiring an additional 381,646 shares during the last quarter. Institutional investors and hedge funds own 90.73% of the company’s stock.
In related news, COO Gregory P. Hill sold 8,700 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $57.93, for a total value of $503,991.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John B. Hess sold 218,220 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $55.44, for a total transaction of $12,098,116.80. The disclosure for this sale can be found here. In the last three months, insiders sold 470,741 shares of company stock worth $25,677,557. 12.09% of the stock is currently owned by company insiders.
Hess Company Profile
Hess Corporation, an exploration and production company, explores for, 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.