Q2 2024 Earnings Estimate for Hess Co. (NYSE:HES) Issued By Zacks Research

Hess Co. (NYSE:HES) – Analysts at Zacks Research boosted their Q2 2024 earnings estimates for Hess in a report issued on Tuesday, April 23rd. Zacks Research analyst A. Kanoria now expects that the oil and gas producer will earn $2.00 per share for the quarter, up from their prior forecast of $1.99. The consensus estimate for Hess’ current full-year earnings is $8.62 per share. Zacks Research also issued estimates for Hess’ Q3 2024 earnings at $1.95 EPS, Q4 2024 earnings at $1.97 EPS, FY2024 earnings at $7.66 EPS, Q1 2025 earnings at $2.45 EPS, Q2 2025 earnings at $2.34 EPS, Q3 2025 earnings at $2.45 EPS, Q4 2025 earnings at $2.82 EPS, FY2025 earnings at $10.07 EPS, Q1 2026 earnings at $1.96 EPS and FY2026 earnings at $7.89 EPS.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share.

Several other equities analysts have also recently weighed in on HES. StockNews.com assumed coverage on shares of Hess in a research note on Thursday. They set a “sell” rating for the company. Piper Sandler raised their target price on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Susquehanna raised their target price on shares of Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Mizuho raised their target price on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $177.42.

Hess Stock Performance

Shares of NYSE HES opened at $161.45 on Wednesday. The firm has a fifty day moving average price of $151.09 and a 200-day moving average price of $147.20. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 0.96. The stock has a market cap of $49.74 billion, a PE ratio of 35.88 and a beta of 1.27. Hess has a 1 year low of $124.27 and a 1 year high of $167.75.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued a dividend of $0.4375 per share. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a yield of 1.08%. Hess’s payout ratio is 38.89%.

Insider Activity at Hess

In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the transaction, the senior vice president now owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the transaction, the senior vice president now owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the transaction, the senior vice president now directly owns 33,581 shares in the company, valued at approximately $5,073,417.48. The disclosure for this sale can be found here. Insiders sold 155,798 shares of company stock worth $22,811,166 in the last 90 days. 9.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. NBC Securities Inc. acquired a new position in Hess during the 3rd quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Hess during the 4th quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Hess during the 1st quarter valued at approximately $27,000. Sound Income Strategies LLC purchased a new stake in shares of Hess in the 4th quarter valued at $29,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Hess in the 3rd quarter valued at $30,000. Institutional investors 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.