Q4 EPS Estimates for Hess Raised by Capital One Financial

Hess Co. (NYSE:HES) – Investment analysts at Capital One Financial increased their Q4 2024 EPS estimates for shares of Hess in a research report issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will earn $1.60 per share for the quarter, up from their prior estimate of $1.59. The consensus estimate for Hess’ current full-year earnings is $9.74 per share. Capital One Financial also issued estimates for Hess’ Q1 2025 earnings at $1.79 EPS, Q2 2025 earnings at $2.05 EPS, Q3 2025 earnings at $2.45 EPS, Q4 2025 earnings at $2.58 EPS and FY2025 earnings at $8.86 EPS.

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

Several other research analysts also recently commented on the stock. StockNews.com initiated coverage on shares of Hess in a research report on Sunday, January 5th. They set a “hold” rating for the company. BMO Capital Markets boosted their target price on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Scotiabank raised their price target on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. Susquehanna boosted their price objective on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group raised their target price on shares of Hess from $173.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $170.50.

Hess Trading Up 1.9 %

Shares of Hess stock opened at $142.52 on Monday. The company’s 50-day moving average price is $139.95 and its 200-day moving average price is $139.44. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. Hess has a 12-month low of $123.79 and a 12-month high of $163.98. The company has a market cap of $43.91 billion, a price-to-earnings ratio of 16.61 and a beta of 1.18.

Institutional Investors Weigh In On Hess

A number of institutional investors have recently modified their holdings of HES. Wellington Management Group LLP boosted its stake in 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 purchasing an additional 1,391,311 shares in the last quarter. HBK Investments L P grew its holdings in shares of Hess by 16.7% during 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 during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Hess by 31.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock valued at $450,696,000 after acquiring an additional 785,270 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Hess by 76.4% in the 2nd quarter. Hsbc Holdings PLC now owns 1,532,132 shares of the oil and gas producer’s stock worth $227,273,000 after acquiring an additional 663,338 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Hess by 64.3% in the 2nd quarter. Bank of Montreal Can now owns 1,449,969 shares of the oil and gas producer’s stock valued at $218,220,000 after acquiring an additional 567,550 shares in the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hess

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John B. Hess sold 90,476 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the sale, the chief executive officer now directly owns 223,147 shares in the company, valued at $31,791,753.09. The trade was a 28.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,370 shares of company stock worth $45,856,309 in the last ninety days. 9.76% of the stock is owned by company insiders.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. Hess’s dividend payout ratio is currently 23.31%.

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.