Hess Corp. (NYSE:HES) – Equities research analysts at Credit Agricole SA issued their Q3 2016 EPS estimates for Hess Corp. in a research report issued to clients and investors 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.
A number of other research analysts have also recently weighed in on the stock. Wolfe Research cut shares of Hess Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, September 12th. Barclays PLC reissued an “equal weight” rating and set a $64.00 price objective on shares of Hess Corp. in a research note on Monday, October 10th. Zacks Investment Research raised shares of Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, July 29th. Nomura reissued a “hold” rating and set a $56.00 price objective on shares of Hess Corp. in a research note on Monday, October 3rd. Finally, Bank of America Corp. reissued a “buy” rating and set a $85.00 price objective on shares of Hess Corp. in a research note on Monday, August 22nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Hess Corp. has a consensus rating of “Hold” and a consensus target price of $61.09.
Hess Corp. (NYSE:HES) opened at 51.70 on Friday. The firm’s 50-day moving average price is $50.96 and its 200-day moving average price is $55.44. Hess Corp. has a 1-year low of $32.41 and a 1-year high of $64.08. The firm’s market capitalization is $16.19 billion.
Hess Corp. (NYSE:HES) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($1.10) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the firm earned ($0.52) earnings per share. The firm’s revenue was down 34.4% compared to the same quarter last year.
Large investors have recently added to or reduced their stakes in the company. Rafferty Asset Management LLC purchased a new stake in Hess Corp. during the first quarter valued at about $1,062,000. State Street Corp increased its stake in Hess Corp. by 9.8% in the first quarter. State Street Corp now owns 13,670,601 shares of the company’s stock valued at $719,757,000 after buying an additional 1,216,695 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Hess Corp. by 31.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,131 shares of the company’s stock valued at $2,534,000 after buying an additional 11,423 shares during the last quarter. NWQ Investment Management Company LLC increased its stake in Hess Corp. by 27.1% in the first quarter. NWQ Investment Management Company LLC now owns 1,486,489 shares of the company’s stock valued at $78,264,000 after buying an additional 317,298 shares during the last quarter. Finally, AMF Pensionsforsakring AB increased its stake in Hess Corp. by 96.3% in the first quarter. AMF Pensionsforsakring AB now owns 952,731 shares of the company’s stock valued at $50,161,000 after buying an additional 467,488 shares during the last quarter. 82.92% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Gregory P. Hill sold 15,000 shares of Hess Corp. stock in a transaction on Monday, August 8th. The shares were sold at an average price of $55.99, for a total transaction of $839,850.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 11.83% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, September 15th. Hess Corp.’s dividend payout ratio (DPR) is -9.60%.
About Hess Corp.
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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