What is Zacks Research’s Estimate for Hess FY2024 Earnings?

Hess Co. (NYSE:HES) – Analysts at Zacks Research issued their FY2024 EPS estimates for Hess in a note issued to investors on Wednesday, November 13th. Zacks Research analyst R. Department anticipates that the oil and gas producer will post earnings per share of $9.54 for the year. The consensus estimate for Hess’ current full-year earnings is $9.72 per share. Zacks Research also issued estimates for Hess’ Q4 2024 earnings at $1.62 EPS, Q1 2025 earnings at $1.67 EPS, Q2 2025 earnings at $1.72 EPS, Q3 2025 earnings at $1.70 EPS, Q4 2025 earnings at $1.84 EPS, FY2025 earnings at $6.93 EPS, Q1 2026 earnings at $1.97 EPS, Q2 2026 earnings at $1.83 EPS, Q3 2026 earnings at $1.81 EPS and FY2026 earnings at $7.57 EPS.

Other equities research analysts have also recently issued reports about the company. Citigroup cut their target price on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company cut their target price on Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Wolfe Research upgraded Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Monday, September 30th. Piper Sandler cut their target price on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Finally, BMO Capital Markets lifted their price objective on shares of Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $163.30.

Hess Stock Performance

HES stock opened at $146.16 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. The stock has a market capitalization of $45.03 billion, a price-to-earnings ratio of 17.03 and a beta of 1.15. Hess has a 1 year low of $123.79 and a 1 year high of $163.98. The stock’s fifty day moving average is $137.56 and its two-hundred day moving average is $142.70.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.64 earnings per share.

Institutional Investors Weigh In On Hess

Several hedge funds and other institutional investors have recently bought and sold shares of HES. New Covenant Trust Company N.A. acquired a new stake in Hess during the 1st quarter worth about $25,000. Groupama Asset Managment raised its holdings in Hess by 22.7% during the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 4,186 shares during the period. Covestor Ltd raised its holdings in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 98 shares during the period. FSA Wealth Management LLC acquired a new stake in Hess during the 3rd quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Hess by 47.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after buying an additional 88 shares during the period. 88.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Hess news, CEO John B. Hess sold 90,476 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the sale, the chief executive officer now directly owns 223,147 shares in the company, valued at approximately $31,791,753.09. The trade was a 28.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the sale, the senior vice president now owns 27,581 shares in the company, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.76% of the stock is owned by company insiders.

Hess Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 1.37%. Hess’s payout ratio is 23.31%.

About Hess

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.