FY2024 Earnings Estimate for Hess Issued By Zacks Research

Hess Co. (NYSE:HES) – Stock analysts at Zacks Research issued their FY2024 EPS estimates for Hess in a report released on Wednesday, November 13th. Zacks Research analyst R. Department expects that the oil and gas producer will post earnings per share of $9.54 for the year. The consensus estimate for Hess’ current full-year earnings is $9.72 per share. Zacks Research also issued estimates for Hess’ Q4 2024 earnings at $1.62 EPS, Q1 2025 earnings at $1.67 EPS, Q2 2025 earnings at $1.72 EPS, Q3 2025 earnings at $1.70 EPS, Q4 2025 earnings at $1.84 EPS, FY2025 earnings at $6.93 EPS, Q1 2026 earnings at $1.97 EPS, Q2 2026 earnings at $1.83 EPS, Q3 2026 earnings at $1.81 EPS and FY2026 earnings at $7.57 EPS.

A number of other equities research analysts also recently issued reports on the stock. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a report on Monday, September 30th. Wells Fargo & Company cut their price target on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Citigroup decreased their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. BMO Capital Markets boosted their target price on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, UBS Group lowered their price target on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Hess currently has a consensus rating of “Hold” and a consensus target price of $163.30.

Hess Stock Performance

NYSE:HES opened at $145.64 on Monday. Hess has a 52-week low of $123.79 and a 52-week high of $163.98. The business’s fifty day moving average is $136.80 and its 200 day moving average is $142.87. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. The firm has a market cap of $44.87 billion, a price-to-earnings ratio of 16.97 and a beta of 1.15.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year.

Hedge Funds Weigh In On Hess

A number of large investors have recently bought and sold shares of HES. New Covenant Trust Company N.A. purchased a new position in shares of Hess in the first quarter valued at about $25,000. Covestor Ltd increased its holdings in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Hess by 47.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 88 shares during the period. FSA Wealth Management LLC bought a new position in Hess during the 3rd quarter valued at approximately $37,000. Finally, Eastern Bank purchased a new stake in Hess in the 3rd quarter worth approximately $48,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares in the company, valued at approximately $3,914,019.71. The trade was a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John B. Hess sold 90,476 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the completion of the sale, the chief executive officer now directly owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their position. The disclosure for this sale can be found here. 9.76% of the stock is owned by insiders.

Hess Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.50 dividend. This is an increase from Hess’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. Hess’s payout ratio is presently 23.31%.

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.