Equities Analysts Set Expectations for Hess FY2024 Earnings

Hess Co. (NYSE:HES) – Equities researchers at Zacks Research issued their FY2024 EPS estimates for Hess in a note issued to investors 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 issued 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. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the company posted $1.64 EPS. Hess’s quarterly revenue was up 12.7% compared to the same quarter last year.

HES has been the subject of several other reports. Mizuho reduced their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. 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. Citigroup lowered their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. StockNews.com initiated coverage on shares of Hess in a report on Monday. They issued a “hold” rating for the company. Finally, Wells Fargo & Company lowered their target price on Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $163.30.

Hess Stock Performance

NYSE HES opened at $146.94 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $137.16 and its 200-day simple moving average is $142.79. The company has a market cap of $45.28 billion, a PE ratio of 17.13 and a beta of 1.15. Hess has a 1-year low of $123.79 and a 1-year high of $163.98.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in shares of Hess in the 1st quarter valued at $25,000. Groupama Asset Managment lifted its position in shares of Hess by 22.7% during the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 4,186 shares in the last quarter. Covestor Ltd increased its stake in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 98 shares during the period. FSA Wealth Management LLC acquired a new stake in Hess during the 3rd quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC boosted its position in Hess by 47.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after buying an additional 88 shares during the period. 88.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO John B. Hess sold 90,476 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the completion of the transaction, the chief executive officer now owns 223,147 shares of the company’s stock, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the sale, the senior vice president now owns 27,581 shares of the company’s stock, valued at $3,914,019.71. This trade represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. 9.76% of the stock is owned by insiders.

Hess Increases Dividend

The firm also recently disclosed 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%. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, September 16th. Hess’s dividend payout ratio is presently 23.31%.

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.