FY2024 Earnings Estimate for Hess Issued By Zacks Research

Hess Co. (NYSE:HES) – Analysts at Zacks Research issued their FY2024 EPS estimates for shares of Hess in a report released on Wednesday, November 13th. Zacks Research analyst R. Department expects 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.

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

Several other brokerages have also commented on HES. Citigroup dropped their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Scotiabank increased their target price on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price target on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. BMO Capital Markets raised their price objective on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, StockNews.com began coverage on Hess in a report on Monday. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $163.30.

Hess Price Performance

Shares of NYSE HES opened at $146.94 on Monday. The stock’s 50-day simple moving average is $137.16 and its 200-day simple moving average is $142.79. The firm has a market capitalization of $45.28 billion, a PE ratio of 17.13 and a beta of 1.15. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is 23.31%.

Insider Buying and Selling at Hess

In other news, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 223,147 shares in the company, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their position. The transaction 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 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 transaction, 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.

Institutional Trading of Hess

Several hedge funds have recently modified their holdings of the business. Primecap Management Co. CA increased its holdings in shares of Hess by 4.4% in the 2nd 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 purchasing an additional 340,490 shares in the last quarter. HBK Investments L P increased its holdings in Hess by 16.7% in the third 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 buying an additional 1,017,720 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Hess by 1.1% during the 3rd 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 acquiring an additional 74,085 shares during the period. Wellington Management Group LLP grew its holdings in shares of Hess by 58.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock worth $509,675,000 after acquiring an additional 1,391,311 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of 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 during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

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.