Equities Analysts Set Expectations for Hess Corp.’s Q4 2019 Earnings (NYSE:HES)

Equities Analysts Set Expectations for Hess Corp.’s Q4 2019 Earnings (NYSE:HES)

Hess Corp. (NYSE:HES) – Equities researchers at Capital One Financial issued their Q4 2019 earnings per share estimates for shares of Hess in a report released on Wednesday, July 31st. Capital One Financial analyst P. Johnston forecasts that the oil and gas producer will post earnings of ($0.04) per share for the quarter. Capital One Financial currently has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for Hess’ FY2020 earnings at $0.43 EPS.

Hess (NYSE:HES) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. Hess had a net margin of 1.09% and a return on equity of 0.46%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm posted ($0.23) EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley set a $69.00 target price on shares of Hess and gave the stock a “buy” rating in a report on Monday, June 24th. Zacks Investment Research upgraded shares of Hess from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, April 30th. ValuEngine downgraded shares of Hess from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Wells Fargo & Co restated a “buy” rating on shares of Hess in a research report on Wednesday, July 31st. Finally, MKM Partners upgraded shares of Hess from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $69.46.

HES opened at $58.82 on Monday. Hess has a fifty-two week low of $35.59 and a fifty-two week high of $74.81. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 0.68. The company has a market cap of $18.27 billion, a price-to-earnings ratio of -79.49 and a beta of 1.97. The stock’s 50 day simple moving average is $61.70.

Institutional investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. lifted its position in shares of Hess by 7.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 173,021 shares of the oil and gas producer’s stock valued at $10,421,000 after acquiring an additional 11,857 shares during the period. Stephens Inc. AR acquired a new position in shares of Hess during the 1st quarter valued at $208,000. Everence Capital Management Inc. lifted its position in shares of Hess by 23.9% during the 1st quarter. Everence Capital Management Inc. now owns 17,269 shares of the oil and gas producer’s stock valued at $1,040,000 after acquiring an additional 3,329 shares during the period. Nordea Investment Management AB lifted its position in shares of Hess by 3.2% during the 1st quarter. Nordea Investment Management AB now owns 24,275 shares of the oil and gas producer’s stock valued at $1,462,000 after acquiring an additional 745 shares during the period. Finally, Baldwin Brothers Inc. MA lifted its position in shares of Hess by 4.8% during the 1st quarter. Baldwin Brothers Inc. MA now owns 33,868 shares of the oil and gas producer’s stock valued at $2,040,000 after acquiring an additional 1,555 shares during the period. Institutional investors own 92.50% of the company’s stock.

In related news, insider Michael R. Turner sold 25,170 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $63.20, for a total transaction of $1,590,744.00. Following the transaction, the insider now owns 92,812 shares in the company, valued at approximately $5,865,718.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael R. Turner sold 18,756 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $66.52, for a total transaction of $1,247,649.12. The disclosure for this sale can be found here. Insiders sold a total of 138,077 shares of company stock worth $9,066,732 in the last 90 days. Corporate insiders own 12.22% of the company’s stock.

About Hess

Hess Corporation, an exploration and production company, explores for, 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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