Q1 2024 Earnings Forecast for Hess Co. (NYSE:HES) Issued By Capital One Financial

Hess Co. (NYSE:HES) – Research analysts at Capital One Financial lifted their Q1 2024 earnings estimates for shares of Hess in a note issued to investors on Wednesday, April 3rd. Capital One Financial analyst P. Johnston now forecasts that the oil and gas producer will post earnings of $1.88 per share for the quarter, up from their prior estimate of $1.34. The consensus estimate for Hess’ current full-year earnings is $7.97 per share. Capital One Financial also issued estimates for Hess’ Q2 2024 earnings at $2.58 EPS, Q3 2024 earnings at $2.68 EPS, Q4 2024 earnings at $2.68 EPS, FY2024 earnings at $9.82 EPS and FY2025 earnings at $10.91 EPS.

Hess (NYSE:HES) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. Hess had a return on equity of 17.00% and a net margin of 12.98%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year.

HES has been the topic of a number of other reports. Susquehanna lifted their price target on shares of Hess from $152.00 to $156.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. UBS Group reduced their target price on Hess from $210.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. StockNews.com initiated coverage on Hess in a report on Tuesday. They issued a “sell” rating for the company. Piper Sandler lifted their price objective on Hess from $169.00 to $172.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, Mizuho increased their target price on Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $176.67.

Hess Stock Up 0.4 %

Shares of NYSE HES opened at $156.34 on Monday. The firm has a 50 day moving average price of $148.47 and a 200 day moving average price of $146.73. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05. The stock has a market cap of $48.02 billion, a P/E ratio of 34.74 and a beta of 1.27. Hess has a 52-week low of $124.27 and a 52-week high of $167.75.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were issued a $0.4375 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.12%. Hess’s dividend payout ratio (DPR) is presently 38.89%.

Insider Transactions at Hess

In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of Hess stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the sale, the senior vice president now directly owns 50,215 shares in the company, valued at approximately $7,257,071.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew P. Slentz sold 1,062 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the completion of the sale, the senior vice president now directly owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The disclosure for this sale can be found here. Insiders have sold a total of 155,798 shares of company stock valued at $22,811,166 over the last 90 days. 9.91% of the stock is owned by corporate insiders.

Institutional Trading of Hess

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in shares of Hess during the 3rd quarter worth about $26,000. Rise Advisors LLC acquired a new position in Hess during the first quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Hess in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC acquired a new stake in shares of Hess in the third quarter valued at approximately $30,000. Finally, KB Financial Partners LLC bought a new position in shares of Hess during the 1st quarter worth approximately $26,000. 88.51% of the stock is owned by institutional investors.

About Hess

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.