Zacks Research Analysts Lift Earnings Estimates for Hess Co. (NYSE:HES)

Hess Co. (NYSE:HES) – Investment analysts at Zacks Research boosted their Q2 2024 earnings estimates for shares of Hess in a report issued on Tuesday, April 23rd. Zacks Research analyst A. Kanoria now forecasts that the oil and gas producer will earn $2.00 per share for the quarter, up from their prior estimate of $1.99. The consensus estimate for Hess’ current full-year earnings is $8.32 per share. Zacks Research also issued estimates for Hess’ Q3 2024 earnings at $1.95 EPS, Q4 2024 earnings at $1.97 EPS, FY2024 earnings at $7.66 EPS, Q1 2025 earnings at $2.45 EPS, Q2 2025 earnings at $2.34 EPS, Q3 2025 earnings at $2.45 EPS, Q4 2025 earnings at $2.82 EPS, FY2025 earnings at $10.07 EPS, Q1 2026 earnings at $1.96 EPS and FY2026 earnings at $7.89 EPS.

HES has been the topic of several other research reports. Piper Sandler increased their target price on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho increased their price target on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Susquehanna lifted their price objective on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, StockNews.com began coverage on shares of Hess in a research report on Wednesday, April 17th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $177.42.

Hess Stock Performance

Shares of Hess stock opened at $159.13 on Wednesday. Hess has a 52 week low of $124.27 and a 52 week high of $167.75. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05. The stock has a market capitalization of $49.03 billion, a price-to-earnings ratio of 35.36 and a beta of 1.27. The firm has a fifty day moving average of $150.82 and a two-hundred day moving average of $147.10.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. Hess had a net margin of 12.98% and a return on equity of 17.00%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. Hess’s revenue for the quarter was down .6% compared to the same quarter last year.

Hess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued a dividend of $0.4375 per share. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.10%. Hess’s payout ratio is presently 38.89%.

Insider Activity at Hess

In other news, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total value of $10,777,604.95. Following the sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Geurt G. Schoonman sold 13,921 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the completion of the transaction, the senior vice president now directly owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value of $10,777,604.95. Following the transaction, the chief executive officer now directly owns 138,718 shares in the company, valued at approximately $20,234,794.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,798 shares of company stock valued at $22,811,166. 9.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Hess

Several large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hess by 6.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock valued at $18,737,000 after acquiring an additional 8,439 shares during the period. Arvest Investments Inc. bought a new position in shares of Hess in the fourth quarter valued at about $1,407,000. Exchange Traded Concepts LLC lifted its stake in shares of Hess by 1,456.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock worth $1,082,000 after buying an additional 7,022 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Hess during the 4th quarter worth about $967,000. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of Hess by 75.3% during the 4th quarter. Miller Howard Investments Inc. NY now owns 39,249 shares of the oil and gas producer’s stock worth $5,658,000 after buying an additional 16,861 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

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. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.