Hess (HES) Set to Announce Quarterly Earnings on Wednesday

Hess (NYSE:HES) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, April 28th. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, January 27th. The oil and gas producer reported ($0.58) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.08. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.20 billion. Hess had a negative net margin of 63.27% and a negative return on equity of 11.18%. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.60) EPS. On average, analysts expect Hess to post $-3 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

HES stock opened at $67.73 on Wednesday. The firm has a market cap of $20.79 billion, a PE ratio of -6.40 and a beta of 2.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.90 and a current ratio of 2.20. The firm’s 50 day moving average price is $71.20 and its 200-day moving average price is $56.34. Hess has a one year low of $33.74 and a one year high of $76.24.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Tuesday, March 16th. Hess’s payout ratio is presently -105.26%.

In related news, SVP Andrew P. Slentz sold 1,953 shares of the business’s stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $72.06, for a total value of $140,733.18. Following the completion of the sale, the senior vice president now directly owns 53,928 shares of the company’s stock, valued at $3,886,051.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Richard D. Lynch sold 31,588 shares of the business’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $57.69, for a total transaction of $1,822,311.72. Following the completion of the sale, the senior vice president now directly owns 64,309 shares of the company’s stock, valued at $3,709,986.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 659,283 shares of company stock valued at $40,757,806. 12.22% of the stock is owned by corporate insiders.

Several analysts have recently commented on HES shares. Barclays lifted their price target on shares of Hess from $67.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, March 30th. Morgan Stanley lifted their target price on shares of Hess from $64.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, March 17th. Mizuho upgraded shares of Hess from a “neutral” rating to a “buy” rating and lifted their target price for the company from $76.00 to $94.00 in a report on Wednesday, March 31st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Hess from $72.00 to $84.00 and gave the company a “buy” rating in a report on Monday, March 29th. Finally, Piper Sandler lifted their target price on shares of Hess from $69.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, April 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.25.

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 through two segments, Exploration and Production, and Marketing and Refining. It 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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Earnings History for Hess (NYSE:HES)

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