Hess Corporation (NYSE:HES) issued its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.22, Bloomberg Earnings reports. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.27 billion. Hess Corporation had a negative net margin of 113.21% and a negative return on equity of 9.30%. The company’s revenue was up 39.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.12) earnings per share.
Shares of Hess Corporation (HES) traded down $0.42 during trading hours on Friday, hitting $47.11. 2,155,600 shares of the stock were exchanged, compared to its average volume of 4,165,039. Hess Corporation has a 1-year low of $37.25 and a 1-year high of $65.56. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.84 and a quick ratio of 1.84.
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In related news, insider Brian D. Truelove sold 6,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.53, for a total transaction of $255,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gregory P. Hill sold 11,726 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $38.37, for a total transaction of $449,926.62. The disclosure for this sale can be found here. 11.80% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Hess Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Thursday. Scotiabank set a $52.00 target price on shares of Hess Corporation and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Morgan Stanley boosted their target price on shares of Hess Corporation from $43.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. BMO Capital Markets set a $45.00 price objective on shares of Hess Corporation and gave the company a “hold” rating in a research note on Tuesday, October 10th. Finally, J P Morgan Chase & Co downgraded shares of Hess Corporation from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $52.00 to $45.00 in a research note on Thursday, September 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $51.92.
Hess Corporation Company Profile
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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