Equities Analysts Set Expectations for Hess Corp.’s Q2 2019 Earnings (HES)

Hess Corp. (NYSE:HES) – Investment analysts at Piper Jaffray Companies lowered their Q2 2019 earnings estimates for shares of Hess in a research report issued on Tuesday, May 14th. Piper Jaffray Companies analyst R. Todd now anticipates that the oil and gas producer will post earnings per share of $0.08 for the quarter, down from their previous estimate of $0.11. Piper Jaffray Companies also issued estimates for Hess’ FY2019 earnings at $0.43 EPS, Q1 2020 earnings at $0.39 EPS, Q2 2020 earnings at $0.48 EPS, Q3 2020 earnings at $0.54 EPS and Q4 2020 earnings at $0.54 EPS.

Several other analysts also recently issued reports on HES. Zacks Investment Research raised Hess from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, April 30th. ValuEngine downgraded Hess from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Capital One Financial raised Hess from an “underweight” rating to an “equal weight” rating in a report on Wednesday. MKM Partners reissued a “neutral” rating and issued a $71.00 price target on shares of Hess in a report on Tuesday, April 16th. Finally, Morgan Stanley set a $63.00 price target on Hess and gave the stock a “buy” rating in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $68.69.

Shares of NYSE HES opened at $65.69 on Friday. The company has a market capitalization of $20.13 billion, a P/E ratio of -88.77 and a beta of 1.96. Hess has a 12-month low of $35.59 and a 12-month high of $74.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.57 and a current ratio of 1.69.

Hess (NYSE:HES) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.26) by $0.35. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.43 billion. Hess had a positive return on equity of 0.20% and a negative net margin of 0.75%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.27) EPS.

In other Hess news, insider John P. Rielly sold 3,758 shares of Hess stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.90, for a total transaction of $221,346.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Gregory P. Hill sold 7,134 shares of Hess stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.90, for a total value of $420,192.60. The disclosure for this sale can be found here. Insiders have sold a total of 147,173 shares of company stock worth $9,377,165 in the last ninety days. 12.22% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Icon Wealth Partners LLC bought a new stake in Hess during the 1st quarter valued at $25,000. Lindbrook Capital LLC acquired a new position in shares of Hess during the 4th quarter valued at $26,000. Oregon Public Employees Retirement Fund increased its position in shares of Hess by 3,900.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,108,647 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,080,934 shares during the period. Cresset Asset Management LLC acquired a new position in shares of Hess during the 1st quarter valued at $27,000. Finally, NuWave Investment Management LLC increased its position in shares of Hess by 266.5% during the 4th quarter. NuWave Investment Management LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 605 shares during the period. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Hess Company Profile

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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Earnings History and Estimates for Hess (NYSE:HES)

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