Hess Corp. (NYSE:HES) – Investment analysts at Credit Agricole SA issued their Q3 2016 earnings per share estimates for shares of Hess Corp. in a research report issued on Wednesday. Credit Agricole SA analyst A. Sen forecasts that the brokerage will post earnings of ($1.25) per share for the quarter. Credit Agricole SA also issued estimates for Hess Corp.’s FY2016 earnings at ($5.20) EPS, FY2017 earnings at ($3.46) EPS and FY2018 earnings at ($2.82) EPS.
Hess Corp. (NYSE:HES) last announced its earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.14. Hess Corp. had a negative return on equity of 7.16% and a negative net margin of 56.22%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned ($0.52) earnings per share. The company’s revenue for the quarter was down 34.4% compared to the same quarter last year.
HES has been the topic of several other reports. Bank of America Corp. reiterated a “buy” rating and set a $85.00 price objective on shares of Hess Corp. in a research report on Monday, August 22nd. KLR Group started coverage on shares of Hess Corp. in a research report on Monday, September 12th. They set an “accumulate” rating and a $65.00 price objective on the stock. Wolfe Research cut shares of Hess Corp. from an “outperform” rating to a “market perform” rating in a research report on Monday, September 12th. Nomura reiterated a “hold” rating and set a $56.00 price objective on shares of Hess Corp. in a research report on Monday, October 3rd. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $66.00 price objective on shares of Hess Corp. in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $61.09.
Shares of Hess Corp. (NYSE:HES) traded up 0.08% during mid-day trading on Friday, hitting $51.56. The stock had a trading volume of 1,846,577 shares. Hess Corp. has a one year low of $32.41 and a one year high of $64.08. The firm’s 50 day moving average price is $51.10 and its 200-day moving average price is $55.44. The company’s market cap is $16.15 billion.
A number of hedge funds have recently bought and sold shares of the stock. Bollard Group LLC boosted its stake in Hess Corp. by 0.5% in the second quarter. Bollard Group LLC now owns 10,250 shares of the company’s stock worth $616,000 after buying an additional 48 shares during the last quarter. River Wealth Advisors LLC boosted its stake in Hess Corp. by 0.7% in the second quarter. River Wealth Advisors LLC now owns 7,179 shares of the company’s stock worth $431,000 after buying an additional 53 shares during the last quarter. Ropes Wealth Advisors LLC boosted its stake in Hess Corp. by 1.6% in the second quarter. Ropes Wealth Advisors LLC now owns 3,442 shares of the company’s stock worth $207,000 after buying an additional 55 shares during the last quarter. Creative Planning boosted its stake in Hess Corp. by 1.4% in the third quarter. Creative Planning now owns 9,747 shares of the company’s stock worth $523,000 after buying an additional 132 shares during the last quarter. Finally, Conning Inc. boosted its stake in Hess Corp. by 1.9% in the second quarter. Conning Inc. now owns 7,857 shares of the company’s stock worth $472,000 after buying an additional 150 shares during the last quarter. 82.92% of the stock is currently owned by institutional investors and hedge funds.
In related news, COO Gregory P. Hill sold 15,000 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $55.99, for a total value of $839,850.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.83% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, September 15th. Hess Corp.’s dividend payout ratio is currently -9.60%.
Hess Corp. Company Profile
Hess Corporation is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. Its segments include E&P, which is engaged in the sale of crude oil, natural gas liquids and natural gas, and Bakken Midstream, which provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota.
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