Capital One Financial Comments on Hess Co.’s FY2021 Earnings (NYSE:HES)

Hess Co. (NYSE:HES) – Equities research analysts at Capital One Financial increased their FY2021 earnings per share (EPS) estimates for shares of Hess in a research note issued to investors on Wednesday, January 12th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will post earnings per share of $2.15 for the year, up from their prior forecast of $1.85. Capital One Financial also issued estimates for Hess’ Q4 2021 earnings at $0.80 EPS, Q4 2022 earnings at $1.16 EPS and FY2022 earnings at $3.42 EPS.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, October 27th. The oil and gas producer reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.11). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.52 billion. Hess had a return on equity of 3.66% and a net margin of 2.92%. The business’s revenue was up 54.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.71) EPS.

Several other analysts have also commented on HES. Mizuho lifted their price objective on shares of Hess from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, November 30th. TheStreet cut shares of Hess from a “b-” rating to a “c+” rating in a research note on Wednesday, December 1st. The Goldman Sachs Group restated a “buy” rating and issued a $118.00 price objective (up from $106.00) on shares of Hess in a report on Thursday, October 21st. Barclays lowered their price target on shares of Hess from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Morgan Stanley lowered their price target on shares of Hess from $117.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, December 13th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $102.00.

NYSE:HES opened at $91.78 on Friday. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 145.68 and a beta of 1.98. The firm has a fifty day simple moving average of $79.30 and a two-hundred day simple moving average of $78.13. Hess has a 12 month low of $53.43 and a 12 month high of $93.37. The company has a current ratio of 1.42, a quick ratio of 1.32 and a debt-to-equity ratio of 1.31.

Large investors have recently added to or reduced their stakes in the company. Covington Capital Management bought a new stake in shares of Hess during the second quarter worth $33,000. Canton Hathaway LLC bought a new stake in shares of Hess during the third quarter worth $37,000. Ninety One SA PTY Ltd lifted its position in shares of Hess by 31.2% during the third quarter. Ninety One SA PTY Ltd now owns 648 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 154 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Hess by 519.9% during the second quarter. O Shaughnessy Asset Management LLC now owns 967 shares of the oil and gas producer’s stock worth $84,000 after purchasing an additional 811 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in shares of Hess by 87.8% in the fourth quarter. Spire Wealth Management now owns 1,046 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 489 shares in the last quarter. Institutional investors and hedge funds own 82.27% of the company’s stock.

In other Hess news, COO Gregory P. Hill sold 3,600 shares of Hess stock in a transaction on Wednesday, December 8th. The shares were sold at an average price of $81.35, for a total transaction of $292,860.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.22% of the stock is owned by insiders.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 30th. Shareholders of record on Wednesday, December 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date was Tuesday, December 14th. Hess’s payout ratio is 158.73%.

Hess Company Profile

Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.

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Earnings History and Estimates for Hess (NYSE:HES)

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