Hess Corporation (HES) Expected to Announce Earnings of -$1.32 Per Share
Analysts forecast that Hess Corporation (NYSE:HES) will report ($1.32) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Hess Corporation’s earnings. The lowest EPS estimate is ($1.56) and the highest is ($1.15). Hess Corporation posted earnings per share of ($1.12) in the same quarter last year, which indicates a negative year over year growth rate of 17.9%. The firm is expected to report its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Hess Corporation will report full-year earnings of ($5.05) per share for the current year, with EPS estimates ranging from ($5.58) to ($4.23). For the next fiscal year, analysts anticipate that the business will report earnings of ($3.74) per share, with EPS estimates ranging from ($5.65) to ($1.39). Zacks’ earnings per share averages are an average based on a survey of research firms that follow Hess Corporation.
Hess Corporation (NYSE:HES) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas producer reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.14. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm earned ($1.10) earnings per share. Hess Corporation’s revenue was down 3.2% on a year-over-year basis.
Several equities research analysts have weighed in on HES shares. Scotiabank set a $53.00 target price on shares of Hess Corporation and gave the company a “buy” rating in a research note on Tuesday, May 16th. KLR Group restated a “buy” rating and issued a $60.00 target price (up from $58.00) on shares of Hess Corporation in a research note on Saturday, April 29th. Bank of America Corporation restated a “buy” rating and issued a $80.00 target price on shares of Hess Corporation in a research note on Friday, April 14th. Barclays PLC restated an “equal weight” rating and issued a $50.00 target price (down from $61.00) on shares of Hess Corporation in a research note on Wednesday, July 12th. Finally, BMO Capital Markets set a $55.00 target price on shares of Hess Corporation and gave the company a “hold” rating in a research note on Saturday, June 17th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Hess Corporation currently has an average rating of “Hold” and an average price target of $53.91.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its position in shares of Hess Corporation by 73.9% in the first quarter. Great West Life Assurance Co. Can now owns 424,417 shares of the oil and gas producer’s stock valued at $20,508,000 after buying an additional 180,409 shares during the period. Sei Investments Co. boosted its position in shares of Hess Corporation by 7.5% in the first quarter. Sei Investments Co. now owns 130,055 shares of the oil and gas producer’s stock valued at $6,270,000 after buying an additional 9,101 shares during the period. Two Sigma Securities LLC acquired a new position in shares of Hess Corporation during the first quarter valued at about $268,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Hess Corporation by 4.4% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 97,344 shares of the oil and gas producer’s stock valued at $4,692,000 after buying an additional 4,124 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Hess Corporation by 8.5% in the first quarter. Advisors Asset Management Inc. now owns 14,422 shares of the oil and gas producer’s stock valued at $695,000 after buying an additional 1,131 shares during the period. 85.80% of the stock is owned by hedge funds and other institutional investors.
Hess Corporation (NYSE HES) opened at 44.35 on Thursday. The stock’s market capitalization is $13.94 billion. Hess Corporation has a one year low of $39.89 and a one year high of $65.56. The company has a 50-day moving average of $43.32 and a 200-day moving average of $48.15.
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About Hess Corporation
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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