Hess Corp. (NYSE:HES) – Stock analysts at Piper Jaffray Companies reduced their Q2 2019 earnings estimates for Hess in a research report issued on Tuesday, May 14th. Piper Jaffray Companies analyst R. Todd now forecasts that the oil and gas producer will post earnings per share of $0.08 for the quarter, down from their previous forecast of $0.11. Piper Jaffray Companies also issued estimates for Hess’ FY2019 earnings at $0.43 EPS, Q1 2020 earnings at $0.39 EPS, Q2 2020 earnings at $0.48 EPS, Q3 2020 earnings at $0.54 EPS and Q4 2020 earnings at $0.54 EPS.
A number of other analysts have also commented on HES. Zacks Investment Research raised Hess from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Tuesday, April 30th. ValuEngine lowered Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Capital One Financial raised Hess from an “underweight” rating to an “equal weight” rating in a research report on Wednesday. MKM Partners reissued a “neutral” rating and set a $71.00 price objective on shares of Hess in a report on Tuesday, April 16th. Finally, Morgan Stanley set a $63.00 price objective on Hess and gave the stock a “buy” rating in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $68.69.
Shares of Hess stock opened at $65.69 on Friday. Hess has a one year low of $35.59 and a one year high of $74.81. The stock has a market capitalization of $19.74 billion, a P/E ratio of -88.77 and a beta of 1.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.69 and a quick ratio of 1.57.
Hess (NYSE:HES) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.35. Hess had a positive return on equity of 0.20% and a negative net margin of 0.75%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted ($0.27) EPS. The firm’s revenue was up 15.0% compared to the same quarter last year.
In other news, COO Gregory P. Hill sold 63,806 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $66.62, for a total value of $4,250,755.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Risa J. Lavizzo-Mourey bought 442 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $56.74 per share, for a total transaction of $25,079.08. Following the purchase, the director now directly owns 42,446 shares in the company, valued at $2,408,386.04. The disclosure for this purchase can be found here. Insiders have sold a total of 147,173 shares of company stock valued at $9,377,165 over the last three months. Corporate insiders own 12.22% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its position in shares of Hess by 3.0% during the third quarter. Legal & General Group Plc now owns 1,410,643 shares of the oil and gas producer’s stock worth $101,026,000 after acquiring an additional 41,581 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Hess by 8.9% during the fourth quarter. State of Alaska Department of Revenue now owns 63,398 shares of the oil and gas producer’s stock valued at $2,566,000 after acquiring an additional 5,161 shares during the last quarter. DNB Asset Management AS increased its position in shares of Hess by 1.5% during the fourth quarter. DNB Asset Management AS now owns 45,516 shares of the oil and gas producer’s stock valued at $1,843,000 after acquiring an additional 655 shares during the last quarter. Fruth Investment Management increased its position in shares of Hess by 24.4% during the fourth quarter. Fruth Investment Management now owns 5,100 shares of the oil and gas producer’s stock valued at $206,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Hess during the fourth quarter valued at about $108,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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