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

Hess Co. (NYSE:HES) – Equities researchers at Zacks Research lifted their Q1 2024 EPS estimates for Hess in a note issued to investors on Tuesday, April 23rd. Zacks Research analyst A. Kanoria now expects that the oil and gas producer will post earnings per share of $1.74 for the quarter, up from their previous forecast of $1.71. The consensus estimate for Hess’ current full-year earnings is $8.62 per share.

Several other equities analysts also recently issued reports on the stock. Mizuho increased their price objective on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Susquehanna raised their price target on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Piper Sandler raised their price target on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, StockNews.com initiated coverage on shares of Hess in a research note on Thursday. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $177.42.

Hess Stock Performance

HES opened at $162.53 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88. The company has a market cap of $50.08 billion, a price-to-earnings ratio of 36.12 and a beta of 1.27. Hess has a 52-week low of $124.27 and a 52-week high of $167.75. The firm’s fifty day simple moving average is $151.37 and its two-hundred day simple moving average is $147.26.

Hess (NYSE:HES) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $1.43. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The company’s revenue was up 36.2% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share.

Institutional Investors Weigh In On Hess

Institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new stake in shares of Hess during the third quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Hess in the fourth quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in shares of Hess in the first quarter valued at approximately $27,000. Sound Income Strategies LLC acquired a new position in shares of Hess in the fourth quarter valued at approximately $29,000. Finally, Larson Financial Group LLC acquired a new position in shares of Hess in the third quarter valued at approximately $30,000. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hess news, EVP Timothy B. Goodell sold 2,701 shares of Hess stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the transaction, the executive vice president now directly owns 162,144 shares of the company’s stock, valued at $23,433,050.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the completion of the sale, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy B. Goodell sold 2,701 shares of Hess stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $390,348.52. Following the sale, the executive vice president now owns 162,144 shares of the company’s stock, valued at $23,433,050.88. The disclosure for this sale can be found here. Insiders have sold 155,798 shares of company stock valued at $22,811,166 over the last ninety days. Company insiders own 9.76% of the company’s stock.

Hess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Friday, March 15th. Hess’s dividend payout ratio (DPR) is presently 38.89%.

About Hess

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.