Hess (HES) to Release Earnings on Thursday
Hess (NYSE:HES) will post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Hess to post earnings of ($0.24) per share for the quarter.
Hess (NYSE:HES) last posted its earnings results on Wednesday, January 30th. The oil and gas producer reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.10. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.49 billion. Hess had a negative net margin of 2.91% and a negative return on equity of 0.73%. The company’s revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned ($1.01) earnings per share. On average, analysts expect Hess to post $-1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
HES opened at $67.46 on Wednesday. The stock has a market capitalization of $20.26 billion, a PE ratio of -91.16 and a beta of 1.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.91. Hess has a twelve month low of $35.59 and a twelve month high of $74.81.
In other news, SVP Timothy B. Goodell sold 5,546 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $53.40, for a total value of $296,156.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gregory P. Hill sold 8,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $57.93, for a total transaction of $503,991.00. The disclosure for this sale can be found here. Insiders sold 470,741 shares of company stock valued at $25,677,557 over the last 90 days. 12.09% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on the stock. MKM Partners reiterated a “neutral” rating and issued a $71.00 target price on shares of Hess in a research note on Tuesday, April 16th. ValuEngine upgraded shares of Hess from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Zacks Investment Research upgraded shares of Hess from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Morgan Stanley set a $63.00 target price on shares of Hess and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Finally, Stephens downgraded shares of Hess from an “overweight” rating to an “equal weight” rating and set a $69.00 target price for the company. in a research note on Tuesday, January 29th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Hess presently has a consensus rating of “Hold” and a consensus target price of $68.69.
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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