What is Zacks Research’s Estimate for Hess FY2024 Earnings?

Hess Co. (NYSE:HES) – Zacks Research issued their FY2024 EPS estimates for shares of Hess in a research report issued on Wednesday, November 13th. Zacks Research analyst R. Department forecasts that the oil and gas producer will post earnings of $9.54 per share for the year. The consensus estimate for Hess’ current full-year earnings is $9.72 per share. Zacks Research also issued estimates for Hess’ Q4 2024 earnings at $1.62 EPS, Q1 2025 earnings at $1.67 EPS, Q2 2025 earnings at $1.72 EPS, Q3 2025 earnings at $1.70 EPS, Q4 2025 earnings at $1.84 EPS, FY2025 earnings at $6.93 EPS, Q1 2026 earnings at $1.97 EPS, Q2 2026 earnings at $1.83 EPS, Q3 2026 earnings at $1.81 EPS and FY2026 earnings at $7.57 EPS.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the firm earned $1.64 EPS. The company’s revenue was up 12.7% compared to the same quarter last year.

Other analysts also recently issued research reports about the stock. Citigroup reduced their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Mizuho lowered their price target on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Scotiabank increased their price objective on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. UBS Group lowered their price objective on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $163.30.

Hess Stock Down 0.5 %

HES stock opened at $146.16 on Monday. The company has a fifty day moving average price of $137.56 and a 200 day moving average price of $142.70. Hess has a 12 month low of $123.79 and a 12 month high of $163.98. The company has a market cap of $45.03 billion, a price-to-earnings ratio of 17.03 and a beta of 1.15. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.26 and a quick ratio of 1.13.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. New Covenant Trust Company N.A. acquired a new stake in Hess in the first quarter valued at approximately $25,000. Groupama Asset Managment grew its position in Hess by 22.7% in the third quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 4,186 shares in the last quarter. Covestor Ltd grew its position in Hess by 59.8% in the third quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 98 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Hess in the third quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC grew its position in Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Insider Activity at Hess

In related news, CEO John B. Hess sold 90,476 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the transaction, the chief executive officer now owns 223,147 shares in the company, valued at approximately $31,791,753.09. This trade represents a 28.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the transaction, the senior vice president now owns 27,581 shares in the company, valued at $3,914,019.71. The trade was a 17.87 % decrease in their position. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by insiders.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This is a positive change from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, September 16th. Hess’s dividend payout ratio is presently 23.31%.

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.