Hess Co. (NYSE: HES) – Investment analysts at Capital One Financial dropped their FY2021 EPS estimates for Hess in a report released on Wednesday, October 27. Capital One Financial analyst P. Johnston now expects the oil and gas producer to earn $ 2.02 per share for the year, down from its previous estimate of 2.05 $. Capital One Financial also released estimates for Hess first quarter 2022 earnings at $ 0.72 per share, second quarter 2022 earnings at $ 1.09 per share, and fiscal 2022 earnings at 4.95. $ per share. Hess (NYSE: HES) last released its quarterly earnings data on Wednesday, October 27. The oil and gas producer reported earnings of $ 0.28 per share (EPS) for the quarter, missing analyst consensus estimates of $ 0.39 per ($ 0.11). Hess recorded a negative return on equity of 1.00% and a negative net margin of 2.63%. The company posted revenue of $ 1.81 billion for the quarter, compared to a consensus estimate of $ 1.52 billion. In the same quarter of the previous year, the company achieved EPS ($ 0.71). The company’s revenue increased 54.0% year-over-year.
Other equity research analysts have also recently published reports on the company. Citigroup lowered its price target on Hess from $ 102.00 to $ 91.00 and set a “buy” rating for the company in a research note on Thursday, September 9. Zacks Investment Research downgraded Hess from a âbuyâ rating to a âkeepâ rating and set a price target of $ 69.00 for the company. in a research note on Wednesday August 18. The Goldman Sachs group reiterated a âbuyâ note and issued a price target of $ 118.00 (vs. $ 106.00) on Hess shares in a research note on Thursday, October 21. Piper Sandler increased her price target on Hess from $ 94.00 to $ 104.00 and gave the company an “overweight” rating in a Friday July 23 research note. They noted that the move was an appraisal call. Finally, Wells Fargo & Company increased its price target on Hess from $ 98.00 to $ 104.00 and assigned the company an “overweight” rating in a Wednesday, June 30 research note. Four equity research analysts rated the stock with a conservation rating and twelve gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of âBuyâ and an average target price of $ 99.00.
NYSE: HES shares opened at $ 84.68 on Thursday. Hess has a 12 month low of $ 34.82 and a 12 month high of $ 92.79. The stock has a market cap of $ 26.22 billion, a PE ratio of -156.81 and a beta of 2.20. The company has a 50-day moving average of $ 74.33 and a 200-day moving average of $ 78.08. The company has a quick ratio of 1.48, a current ratio of 1.57, and a debt ratio of 1.21.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 30. Investors of record on Wednesday, September 15 received a dividend of $ 0.25. The ex-dividend date was Tuesday, September 14. This represents a dividend of $ 1.00 on an annualized basis and a return of 1.18%. Hess’ payout ratio is -34.13%.
In other Hess news, COO Gregory P. Hill sold 15,000 shares of the company in a trade on Wednesday, September 15. The shares were sold at an average price of $ 72.04, for a total trade of $ 1,080,600.00. The sale was disclosed in a legal file with the SEC, which is available on the SEC’s website. Company insiders own 10.79% of the company’s shares.
Institutional investors and hedge funds have recently changed their holdings in the company. Great West Life Assurance Co. Can strengthened its position in Hess by 12.4% in the second quarter. Great West Life Assurance Co. Can now owns 174,403 shares of the oil and gas producer valued at $ 15,225,000 after acquiring an additional 19,187 shares in the last quarter. American Century Companies Inc. strengthened its position in Hess shares by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 18,916 shares of the oil and gas producer valued at $ 1,652,000 after purchasing an additional 3,759 shares last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp strengthened its position in Hess shares by 12.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,051 shares of the oil and gas producer valued at $ 4,458,000 after purchasing an additional 5,709 shares in the last quarter. Nomura Asset Management Co. Ltd. strengthened its position in Hess shares by 5.4% during the first quarter. Nomura Asset Management Co. Ltd. Now owns 58,151 shares of the oil and gas producer valued at $ 4,115,000 after purchasing an additional 2,994 shares in the last quarter. Finally, State Street Corp strengthened its position in Hess shares by 0.8% during the second quarter. State Street Corp now owns 18,243,588 shares of the oil and gas producer valued at $ 1,593,030,000 after purchasing an additional 138,621 shares in the last quarter. 82.39% of the shares are currently held by institutional investors and hedge funds.
Hess Company Profile
Hess Corp is an exploration and production company engaged in the exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.
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