Analysts Anticipate Hess Corp. (HES) Will Announce Earnings of $0.02 Per Share

Wall Street analysts expect that Hess Corp. (NYSE:HES) will announce $0.02 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Hess’ earnings. The highest EPS estimate is $0.75 and the lowest is ($0.29). Hess reported earnings per share of ($1.01) during the same quarter last year, which would indicate a positive year over year growth rate of 102%. The company is scheduled to issue its next quarterly earnings report on Monday, February 4th.

On average, analysts expect that Hess will report full-year earnings of $0.02 per share for the current fiscal year, with EPS estimates ranging from ($0.41) to $0.68. For the next fiscal year, analysts forecast that the firm will report earnings of $1.02 per share, with EPS estimates ranging from ($0.86) to $3.02. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Hess.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.43. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.54 billion. Hess had a negative return on equity of 2.65% and a negative net margin of 47.06%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.07) earnings per share.

Several brokerages have commented on HES. Sanford C. Bernstein began coverage on Hess in a research note on Thursday, September 27th. They set an “outperform” rating and a $89.00 price target for the company. Piper Jaffray Companies lowered Hess from an “overweight” rating to a “neutral” rating in a research note on Thursday, September 27th. Bank of America restated a “buy” rating and set a $86.00 price target (up from $83.00) on shares of Hess in a research note on Monday, September 17th. Morgan Stanley restated a “buy” rating and set a $87.00 price target (up from $84.00) on shares of Hess in a research note on Tuesday, September 18th. Finally, Credit Suisse Group set a $61.00 price target on Hess and gave the stock a “hold” rating in a research note on Monday, September 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Hess currently has an average rating of “Hold” and a consensus target price of $68.00.

NYSE:HES traded down $2.04 on Monday, hitting $52.88. 185,294 shares of the stock were exchanged, compared to its average volume of 3,393,191. The firm has a market capitalization of $16.27 billion, a PE ratio of -11.53, a P/E/G ratio of 549.20 and a beta of 1.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.30 and a quick ratio of 2.16. Hess has a fifty-two week low of $40.37 and a fifty-two week high of $74.81.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. Hess’s payout ratio is -21.69%.

In other news, insider Michael R. Turner sold 4,142 shares of the company’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $56.82, for a total value of $235,348.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.09% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Hess in the second quarter worth about $104,000. Palo Capital Inc. purchased a new position in Hess in the third quarter valued at about $116,000. Point72 Hong Kong Ltd purchased a new position in Hess in the third quarter valued at about $131,000. Rehmann Capital Advisory Group boosted its holdings in Hess by 5,108.9% in the third quarter. Rehmann Capital Advisory Group now owns 9,376 shares of the oil and gas producer’s stock valued at $131,000 after purchasing an additional 9,196 shares during the last quarter. Finally, Permanens Capital L.P. purchased a new position in Hess in the third quarter valued at about $136,000. 87.50% of the stock is owned by institutional investors.

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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