Q1 2024 EPS Estimates for Hess Co. (NYSE:HES) Reduced by Analyst

Hess Co. (NYSE:HESFree Report) – Analysts at Zacks Research decreased their Q1 2024 EPS estimates for Hess in a research note issued on Monday, January 15th. Zacks Research analyst U. Dutta now expects that the oil and gas producer will post earnings per share of $1.93 for the quarter, down from their prior estimate of $1.94. The consensus estimate for Hess’ current full-year earnings is $5.21 per share. Zacks Research also issued estimates for Hess’ Q4 2024 earnings at $2.41 EPS, FY2024 earnings at $8.65 EPS, Q1 2025 earnings at $2.13 EPS and Q3 2025 earnings at $2.21 EPS.

Hess (NYSE:HESGet Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported $1.64 EPS for the quarter, topping the consensus estimate of $1.24 by $0.40. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.68 billion. Hess had a net margin of 14.94% and a return on equity of 18.06%. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 earnings per share.

A number of other research firms have also commented on HES. Sanford C. Bernstein lowered shares of Hess from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $189.00 to $166.00 in a report on Thursday, November 2nd. Susquehanna restated a “neutral” rating and set a $160.00 target price (down previously from $197.00) on shares of Hess in a research note on Thursday, October 26th. Bank of America increased their price objective on shares of Hess from $205.00 to $210.00 in a research note on Wednesday, September 27th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $171.00 price objective (up from $170.00) on shares of Hess in a report on Tuesday, October 24th. Finally, StockNews.com initiated coverage on shares of Hess in a report on Friday, January 12th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $171.63.

Check Out Our Latest Report on Hess

Hess Price Performance

Shares of NYSE:HES opened at $138.09 on Tuesday. The company has a 50 day moving average of $142.51 and a 200 day moving average of $147.95. The stock has a market cap of $42.41 billion, a P/E ratio of 26.61 and a beta of 1.37. Hess has a 12 month low of $113.82 and a 12 month high of $167.75. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.90.

Hedge Funds Weigh In On Hess

A number of institutional investors have recently made changes to their positions in the business. Huntington National Bank increased its position in Hess by 2.5% in the 2nd quarter. Huntington National Bank now owns 2,742 shares of the oil and gas producer’s stock valued at $373,000 after buying an additional 68 shares in the last quarter. Spire Wealth Management grew its stake in shares of Hess by 30.7% during the third quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 75 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Hess by 24.0% in the first quarter. Harbour Investments Inc. now owns 403 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 78 shares during the period. Ossiam increased its stake in shares of Hess by 1.0% during the first quarter. Ossiam now owns 8,093 shares of the oil and gas producer’s stock valued at $1,071,000 after purchasing an additional 79 shares in the last quarter. Finally, Contravisory Investment Management Inc. increased its position in shares of Hess by 4.0% during the second quarter. Contravisory Investment Management Inc. now owns 2,062 shares of the oil and gas producer’s stock valued at $280,000 after acquiring an additional 79 shares in the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, December 15th. Hess’s dividend payout ratio is presently 33.72%.

Hess Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Hess (NYSE:HES)

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