Wall Street analysts expect Hess Co. (NYSE:HES) to post sales of $1.50 billion for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Hess' earnings, with the lowest sales estimate coming in at $1.12 billion and the highest estimate coming in at $1.95 billion. Hess posted sales of $1.37 billion during the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The business is scheduled to issue its next earnings report on Thursday, May 6th.
On average, analysts expect that Hess will report full-year sales of $5.82 billion for the current financial year, with estimates ranging from $4.58 billion to $7.20 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $6.66 billion, with estimates ranging from $6.26 billion to $7.07 billion. Zacks' sales calculations are an average based on a survey of sell-side research firms that follow Hess.
Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, January 27th. The oil and gas producer reported ($0.58) earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.66) by $0.08. Hess had a negative return on equity of 11.18% and a negative net margin of 63.27%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company posted ($0.60) earnings per share. The firm's revenue was down 16.6% on a year-over-year basis.
HES has been the topic of several research reports. Morgan Stanley lifted their price target on Hess from $64.00 to $82.00 and gave the company an "overweight" rating in a research report on Wednesday, March 17th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on Hess from $72.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, March 29th. Barclays boosted their target price on Hess from $67.00 to $78.00 and gave the stock an "overweight" rating in a report on Tuesday, March 30th. Mizuho raised Hess from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $76.00 to $94.00 in a report on Wednesday, March 31st. Finally, Zacks Investment Research raised Hess from a "sell" rating to a "hold" rating and set a $56.00 target price on the stock in a report on Thursday, December 10th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of "Buy" and an average target price of $67.13.
In other news, SVP Andrew P. Slentz sold 1,953 shares of the company's stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $72.06, for a total value of $140,733.18. Following the completion of the transaction, the senior vice president now owns 53,928 shares of the company's stock, valued at $3,886,051.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Gregory P. Hill sold 23,473 shares of the company's stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $72.38, for a total value of $1,698,975.74. Following the completion of the transaction, the chief operating officer now directly owns 168,181 shares of the company's stock, valued at approximately $12,172,940.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 659,283 shares of company stock valued at $40,757,806. Company insiders own 12.22% of the company's stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HES. Thrivent Financial for Lutherans boosted its stake in Hess by 2.8% during the third quarter. Thrivent Financial for Lutherans now owns 12,420 shares of the oil and gas producer's stock valued at $508,000 after buying an additional 340 shares during the last quarter. Morgan Stanley boosted its stake in Hess by 16.3% during the third quarter. Morgan Stanley now owns 718,977 shares of the oil and gas producer's stock valued at $29,427,000 after buying an additional 100,672 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Hess by 31.0% during the third quarter. Public Sector Pension Investment Board now owns 33,044 shares of the oil and gas producer's stock valued at $1,352,000 after buying an additional 7,810 shares during the last quarter. Eudaimonia Partners LLC purchased a new stake in Hess during the third quarter valued at approximately $62,000. Finally, State of Tennessee Treasury Department raised its position in Hess by 2.8% during the third quarter. State of Tennessee Treasury Department now owns 55,198 shares of the oil and gas producer's stock valued at $2,259,000 after purchasing an additional 1,521 shares during the period. 79.23% of the stock is owned by hedge funds and other institutional investors.
NYSE HES opened at $73.01 on Thursday. The company has a quick ratio of 1.90, a current ratio of 2.20 and a debt-to-equity ratio of 1.24. Hess has a twelve month low of $32.41 and a twelve month high of $76.24. The firm has a market capitalization of $22.41 billion, a PE ratio of -6.90 and a beta of 2.23. The stock's 50 day moving average is $69.38 and its 200 day moving average is $54.30.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Tuesday, March 16th. Hess's payout ratio is -105.26%.
Hess Company Profile
Hess Corporation, an exploration and production company, explores, 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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