$1.97 Billion in Sales Expected for Hess Co. (NYSE:HES) This Quarter

Equities analysts expect Hess Co. (NYSE:HESGet Rating) to announce $1.97 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Hess’ earnings. The lowest sales estimate is $1.85 billion and the highest is $2.10 billion. Hess posted sales of $1.92 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.6%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Hess will report full-year sales of $11.43 billion for the current financial year, with estimates ranging from $9.17 billion to $13.69 billion. For the next financial year, analysts expect that the firm will report sales of $12.81 billion, with estimates ranging from $9.85 billion to $15.77 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Hess.

Hess (NYSE:HESGet Rating) last announced its quarterly earnings results on Wednesday, January 26th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $1.97 billion. Hess had a net margin of 7.37% and a return on equity of 10.23%. The company’s revenue was up 59.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.58) EPS.

HES has been the topic of a number of research reports. Citigroup cut their target price on shares of Hess from $92.00 to $89.00 in a research note on Monday, January 3rd. StockNews.com initiated coverage on shares of Hess in a report on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho lifted their target price on shares of Hess from $132.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, March 31st. Barclays lifted their price target on shares of Hess from $124.00 to $131.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their price target on shares of Hess from $106.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, March 11th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $113.69.

In other news, CFO John P. Rielly sold 10,003 shares of the stock in a transaction on Thursday, February 3rd. The shares were sold at an average price of $91.00, for a total value of $910,273.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Geurt G. Schoonman sold 6,885 shares of the stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $108.24, for a total transaction of $745,232.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,002,198 shares of company stock valued at $96,261,545. 12.22% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IFM Investors Pty Ltd grew its stake in Hess by 18.9% during the first quarter. IFM Investors Pty Ltd now owns 41,906 shares of the oil and gas producer’s stock valued at $4,486,000 after acquiring an additional 6,654 shares in the last quarter. Chesley Taft & Associates LLC bought a new position in Hess during the first quarter valued at $740,000. Investment House LLC bought a new position in Hess during the first quarter valued at $1,799,000. Connective Portfolio Management LLC bought a new position in Hess during the first quarter valued at $1,745,000. Finally, CAPROCK Group Inc. bought a new position in Hess during the first quarter valued at $361,000. 83.64% of the stock is owned by institutional investors.

Hess stock traded up $0.09 during trading hours on Wednesday, reaching $114.72. The stock had a trading volume of 1,310,802 shares, compared to its average volume of 2,407,344. The stock has a market cap of $35.53 billion, a PE ratio of 63.73 and a beta of 1.76. Hess has a 52 week low of $61.93 and a 52 week high of $116.33. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.42 and a quick ratio of 1.35. The company has a fifty day simple moving average of $101.28 and a 200-day simple moving average of $89.50.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Monday, March 14th were issued a dividend of $0.375 per share. This is a boost from Hess’s previous quarterly dividend of $0.25. This represents a $1.50 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, March 11th. Hess’s dividend payout ratio is currently 83.33%.

About Hess (Get Rating)

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.

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