Brokerages Expect Hess Corp. (HES) Will Announce Quarterly Sales of $1.59 Billion
Wall Street analysts expect that Hess Corp. (NYSE:HES) will announce sales of $1.59 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Hess’ earnings. The lowest sales estimate is $1.44 billion and the highest is $1.75 billion. Hess reported sales of $1.39 billion during the same quarter last year, which indicates a positive year over year growth rate of 14.4%. The company is expected to announce its next earnings report on Wednesday, April 24th.
According to Zacks, analysts expect that Hess will report full year sales of $6.68 billion for the current financial year, with estimates ranging from $6.03 billion to $7.88 billion. For the next financial year, analysts expect that the business will post sales of $6.65 billion, with estimates ranging from $6.31 billion to $7.00 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Hess.
Hess (NYSE:HES) last released its quarterly earnings data 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 company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.49 billion. Hess had a negative net margin of 2.91% and a negative return on equity of 0.73%. Hess’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.01) EPS.
Shares of Hess stock traded down $0.10 during trading on Thursday, hitting $57.96. 3,572,378 shares of the stock were exchanged, compared to its average volume of 4,334,961. The firm has a market capitalization of $17.34 billion, a PE ratio of -78.32 and a beta of 1.95. Hess has a 1-year low of $35.59 and a 1-year high of $74.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.91.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 18th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. Hess’s dividend payout ratio (DPR) is currently -135.14%.
In other Hess news, insider John P. Rielly sold 3,758 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.90, for a total value of $221,346.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John B. Hess sold 218,220 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $55.44, for a total transaction of $12,098,116.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 462,041 shares of company stock worth $25,173,566. 12.09% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its holdings in Hess by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 11,444 shares of the oil and gas producer’s stock valued at $463,000 after purchasing an additional 201 shares during the period. M&T Bank Corp boosted its holdings in Hess by 1.2% in the 4th quarter. M&T Bank Corp now owns 18,751 shares of the oil and gas producer’s stock valued at $759,000 after purchasing an additional 221 shares during the period. Parallel Advisors LLC boosted its holdings in Hess by 26.2% in the 4th quarter. Parallel Advisors LLC now owns 1,124 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 233 shares during the period. Nordea Investment Management AB boosted its holdings in Hess by 1.6% in the 3rd quarter. Nordea Investment Management AB now owns 25,117 shares of the oil and gas producer’s stock valued at $1,798,000 after purchasing an additional 396 shares during the period. Finally, NuWave Investment Management LLC boosted its holdings in Hess by 266.5% in the 4th quarter. NuWave Investment Management LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 605 shares during the period. 92.05% of the stock is owned by hedge funds and other institutional investors.
Hess Company Profile
Hess Corporation, an exploration and production company, 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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