Hess Co. to Post Q1 2024 Earnings of $1.74 Per Share, Zacks Research Forecasts (NYSE:HES)

Hess Co. (NYSE:HESFree Report) – Investment analysts at Zacks Research increased their Q1 2024 EPS estimates for shares of Hess in a report released on Tuesday, April 23rd. Zacks Research analyst A. Kanoria now forecasts that the oil and gas producer will post earnings of $1.74 per share for the quarter, up from their prior estimate of $1.71. The consensus estimate for Hess’ current full-year earnings is $8.32 per share.

HES has been the subject of a number of other research reports. Piper Sandler boosted their price target on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho lifted their price objective on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a 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 report on Monday. Finally, StockNews.com began coverage on shares of Hess in a report on Thursday. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Hess has a consensus rating of “Hold” and an average target price of $177.42.

Check Out Our Latest Research Report on HES

Hess Stock Performance

Shares of HES stock opened at $159.13 on Thursday. The firm has a market capitalization of $49.03 billion, a PE ratio of 35.36 and a beta of 1.27. The firm has a fifty day simple moving average of $150.82 and a two-hundred day simple moving average of $147.10. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88. Hess has a 12 month low of $124.27 and a 12 month high of $167.75.

Hess (NYSE:HESGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. Hess’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.78 EPS.

Institutional Investors Weigh In On Hess

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spire Wealth Management raised its stake in Hess by 30.7% in the 3rd quarter. Spire Wealth Management now owns 319 shares of the oil and gas producer’s stock valued at $49,000 after acquiring an additional 75 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Hess by 17.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 77 shares during the period. Farmers & Merchants Investments Inc. raised its stake in Hess by 10.3% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 855 shares of the oil and gas producer’s stock valued at $131,000 after acquiring an additional 80 shares during the period. Capital Advisors Inc. OK raised its stake in Hess by 5.4% in the 3rd quarter. Capital Advisors Inc. OK now owns 1,584 shares of the oil and gas producer’s stock valued at $242,000 after acquiring an additional 81 shares during the period. Finally, Drive Wealth Management LLC raised its stake in Hess by 1.8% in the 1st quarter. Drive Wealth Management LLC now owns 4,527 shares of the oil and gas producer’s stock valued at $691,000 after acquiring an additional 81 shares during the period. 88.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Gregory P. Hill sold 56,925 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $146.35, for a total value of $8,330,973.75. Following the transaction, the chief operating officer now directly owns 78,287 shares of the company’s stock, valued at approximately $11,457,302.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Gregory P. Hill sold 56,925 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $146.35, for a total value of $8,330,973.75. Following the transaction, the chief operating officer now directly owns 78,287 shares of the company’s stock, valued at approximately $11,457,302.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the transaction, the chief executive officer now directly owns 138,718 shares in the company, valued at $20,234,794.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,798 shares of company stock valued at $22,811,166. 9.76% of the stock is owned by insiders.

Hess Dividend Announcement

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

About Hess

(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.

See Also

Earnings History and Estimates for Hess (NYSE:HES)

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