Hess Co. (NYSE:HES – Free Report) – Scotiabank issued their FY2024 earnings per share (EPS) estimates for Hess in a report issued on Wednesday, January 8th. Scotiabank analyst P. Cheng expects that the oil and gas producer will post earnings of $10.05 per share for the year. Scotiabank currently has a “Sector Perform” rating and a $167.00 price target on the stock. The consensus estimate for Hess’ current full-year earnings is $9.74 per share. Scotiabank also issued estimates for Hess’ FY2025 earnings at $7.65 EPS.
Other analysts have also issued reports about the company. StockNews.com assumed coverage on Hess in a report on Sunday, January 5th. They issued a “hold” rating for the company. Susquehanna upped their price target on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group lifted their price objective on shares of Hess from $173.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Pickering Energy Partners raised shares of Hess to a “hold” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $151.00 to $193.00 in a report on Monday, December 9th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.50.
Hess Price Performance
Shares of HES stock opened at $142.52 on Monday. The firm has a market cap of $43.91 billion, a P/E ratio of 16.61 and a beta of 1.18. The firm has a fifty day moving average of $139.95 and a two-hundred day moving average of $139.44. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13. Hess has a 1-year low of $123.79 and a 1-year high of $163.98.
Hess (NYSE:HES – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The business 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 business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share.
Hess Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Monday, December 16th. Hess’s dividend payout ratio is currently 23.31%.
Insider Activity at Hess
In other news, CEO John B. Hess sold 92,894 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the completion of the sale, the chief executive officer now owns 229,465 shares in the company, valued at approximately $33,914,927. This represents a 28.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the sale, the senior vice president now directly owns 27,581 shares in the company, valued at $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. Insiders have sold 314,370 shares of company stock worth $45,856,309 over the last quarter. 9.76% of the stock is currently owned by company insiders.
Institutional Trading of Hess
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA raised its holdings in shares of Hess by 4.4% during the second quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock valued at $1,194,619,000 after acquiring an additional 340,490 shares during the period. HBK Investments L P raised its stake in Hess by 16.7% during the 3rd quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock valued at $966,600,000 after purchasing an additional 1,017,720 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Hess by 1.1% in the third quarter. Geode Capital Management LLC now owns 6,537,162 shares of the oil and gas producer’s stock valued at $884,709,000 after purchasing an additional 74,085 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Hess by 58.9% during the third quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock valued at $509,675,000 after buying an additional 1,391,311 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Hess by 31.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock worth $450,696,000 after acquiring an additional 785,270 shares in the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.
Hess Company Profile
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.
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