Hess Corp. (NYSE:HES) – Equities researchers at Capital One Financial lifted their FY2019 earnings per share (EPS) estimates for shares of Hess in a research report issued to clients and investors on Wednesday, October 31st. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings per share of ($1.05) for the year, up from their prior forecast of ($1.09).
Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley set a $91.00 price objective on shares of Hess and gave the stock a “buy” rating in a research report on Monday. ValuEngine cut shares of Hess from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Credit Suisse Group set a $61.00 price target on shares of Hess and gave the company a “hold” rating in a research report on Wednesday, October 31st. Barclays upgraded shares of Hess from an “underweight” rating to an “equal weight” rating and set a $66.00 price target for the company in a research report on Tuesday, October 30th. Finally, Sanford C. Bernstein assumed coverage on shares of Hess in a research report on Thursday, September 27th. They set an “outperform” rating and a $89.00 price target for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $66.64.
Hess stock opened at $58.64 on Monday. Hess has a 12-month low of $40.37 and a 12-month high of $74.81. The stock has a market cap of $16.89 billion, a P/E ratio of -12.72 and a beta of 1.55. The company has a quick ratio of 2.29, a current ratio of 2.30 and a debt-to-equity ratio of 0.59.
Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. Hess had a negative net margin of 47.06% and a negative return on equity of 2.64%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business earned ($1.07) earnings per share. Hess’s revenue was up 11.2% compared to the same quarter last year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Ashburton Jersey Ltd increased its position in shares of Hess by 18.3% during the third quarter. Ashburton Jersey Ltd now owns 16,330 shares of the oil and gas producer’s stock valued at $1,169,000 after acquiring an additional 2,530 shares during the last quarter. Chicago Equity Partners LLC boosted its stake in shares of Hess by 4.5% in the third quarter. Chicago Equity Partners LLC now owns 85,545 shares of the oil and gas producer’s stock valued at $6,123,000 after purchasing an additional 3,645 shares during the period. USA Financial Portformulas Corp purchased a new position in shares of Hess in the third quarter valued at approximately $423,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Hess by 56.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 56,924 shares of the oil and gas producer’s stock valued at $4,075,000 after purchasing an additional 20,567 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of Hess by 151.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 3,896 shares of the oil and gas producer’s stock valued at $279,000 after purchasing an additional 2,346 shares during the period. Institutional investors and hedge funds own 88.65% of the company’s stock.
Hess Company Profile
Hess Corporation, an exploration and production company, 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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