Equities Analysts Set Expectations for Hess Co.’s Q2 2022 Earnings (NYSE:HES)

Hess Co. (NYSE:HESGet Rating) – Stock analysts at Capital One Financial reduced their Q2 2022 EPS estimates for shares of Hess in a research report issued on Monday, May 2nd. Capital One Financial analyst P. Johnston now expects that the oil and gas producer will post earnings per share of $1.38 for the quarter, down from their previous estimate of $1.84.

A number of other equities research analysts have also recently weighed in on HES. Susquehanna upped their price target on Hess from $118.00 to $138.00 and gave the stock a “positive” rating in a report on Monday, April 25th. Barclays increased their target price on Hess from $124.00 to $131.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Wells Fargo & Company increased their target price on Hess from $106.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Credit Suisse Group increased their target price on Hess from $86.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, January 27th. Finally, Susquehanna Bancshares increased their target price on Hess from $118.00 to $138.00 and gave the company a “positive” rating in a report on Monday, April 25th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $119.87.

HES opened at $111.49 on Thursday. The stock has a market cap of $34.70 billion, a P/E ratio of 48.06 and a beta of 1.67. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.42 and a quick ratio of 1.35. The stock’s 50 day simple moving average is $104.78 and its 200 day simple moving average is $91.50. Hess has a 1-year low of $61.93 and a 1-year high of $117.06.

Hess (NYSE:HESGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The oil and gas producer reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Hess had a return on equity of 12.35% and a net margin of 9.01%. The company’s revenue was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS.

A number of large investors have recently made changes to their positions in HES. Norges Bank bought a new stake in Hess during the fourth quarter worth approximately $279,973,000. BlackRock Inc. grew its position in Hess by 9.1% in the fourth quarter. BlackRock Inc. now owns 22,832,165 shares of the oil and gas producer’s stock worth $1,690,265,000 after buying an additional 1,912,120 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Hess by 27.5% in the third quarter. UBS Asset Management Americas Inc. now owns 7,148,285 shares of the oil and gas producer’s stock worth $558,353,000 after buying an additional 1,541,044 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Hess by 13.4% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,087,843 shares of the oil and gas producer’s stock worth $787,961,000 after buying an additional 1,191,224 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Hess in the fourth quarter worth approximately $85,842,000. 82.51% of the stock is currently owned by hedge funds and other institutional investors.

In other Hess news, SVP Geurt G. Schoonman sold 6,885 shares of the firm’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $108.24, for a total value of $745,232.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Gregory P. Hill sold 13,771 shares of the business’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $106.23, for a total value of $1,462,893.33. The disclosure for this sale can be found here. Insiders sold 672,417 shares of company stock valued at $66,162,892 over the last quarter. Insiders own 9.93% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 30th. Investors of record on Monday, March 14th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.35%. This is an increase from Hess’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 11th. Hess’s dividend payout ratio (DPR) is 64.66%.

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.

Further Reading

Earnings History and Estimates for Hess (NYSE:HES)

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