Hess Corp. (NYSE:HES) – Analysts at Piper Sandler issued their FY2022 earnings per share estimates for shares of Hess in a research note issued to investors on Friday, July 24th. Piper Sandler analyst R. Todd forecasts that the oil and gas producer will post earnings per share of ($1.16) for the year. Piper Sandler has a “Overweight” rating and a $64.00 price target on the stock.
A number of other brokerages have also commented on HES. Mizuho upped their target price on Hess from $45.00 to $53.00 in a research note on Friday, June 19th. Susquehanna Bancshares upped their target price on Hess from $45.00 to $54.00 in a research note on Friday, May 8th. Raymond James upped their target price on Hess from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Credit Suisse Group upped their price target on Hess from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Scotiabank lowered their price target on Hess from $65.00 to $60.00 and set a “sector outperform” rating on the stock in a research report on Monday, July 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $58.95.
Hess (NYSE:HES) last issued its earnings results on Thursday, May 7th. The oil and gas producer reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.05. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. Hess had a negative return on equity of 5.06% and a negative net margin of 45.64%. Hess’s revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share.
A number of institutional investors have recently bought and sold shares of HES. Capital International Investors boosted its holdings in Hess by 457.1% in the first quarter. Capital International Investors now owns 10,311,544 shares of the oil and gas producer’s stock valued at $343,374,000 after acquiring an additional 8,460,554 shares during the last quarter. Norges Bank acquired a new position in Hess in the fourth quarter valued at about $169,465,000. Capital World Investors acquired a new position in Hess in the first quarter valued at about $74,983,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Hess by 103.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,050,135 shares of the oil and gas producer’s stock valued at $201,788,000 after buying an additional 1,553,648 shares during the period. Finally, State Street Corp lifted its stake in Hess by 9.2% in the first quarter. State Street Corp now owns 14,736,107 shares of the oil and gas producer’s stock valued at $490,712,000 after buying an additional 1,247,329 shares during the period. Institutional investors and hedge funds own 87.35% of the company’s stock.
In related news, COO Gregory P. Hill sold 19,500 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $51.68, for a total value of $1,007,760.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Andrew P. Slentz sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $57.58, for a total value of $241,836.00. The disclosure for this sale can be found here. 11.39% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, June 12th. Hess’s dividend payout ratio is -105.26%.
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company 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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