FY2022 Earnings Forecast for Hess Co. Issued By Jefferies Financial Group (NYSE:HES)

Hess Co. (NYSE:HESGet Rating) – Equities research analysts at Jefferies Financial Group decreased their FY2022 EPS estimates for shares of Hess in a research note issued on Sunday, November 20th. Jefferies Financial Group analyst L. Byrne now expects that the oil and gas producer will earn $7.48 per share for the year, down from their previous estimate of $7.63. Jefferies Financial Group currently has a “Hold” rating and a $140.00 target price on the stock. The consensus estimate for Hess’ current full-year earnings is $7.25 per share. Jefferies Financial Group also issued estimates for Hess’ Q4 2022 earnings at $2.15 EPS, Q1 2023 earnings at $2.38 EPS, Q2 2023 earnings at $2.08 EPS, Q3 2023 earnings at $2.04 EPS, Q4 2023 earnings at $2.24 EPS, Q1 2024 earnings at $2.30 EPS, Q2 2024 earnings at $2.21 EPS and Q3 2024 earnings at $2.20 EPS.

Other research analysts also recently issued research reports about the stock. Morgan Stanley reduced their price target on shares of Hess from $134.00 to $123.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Barclays reduced their price target on shares of Hess from $146.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Piper Sandler upped their price target on shares of Hess from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Friday, November 11th. Wells Fargo & Company upped their target price on shares of Hess from $135.00 to $147.00 in a research report on Thursday, October 13th. Finally, Susquehanna upped their target price on shares of Hess from $144.00 to $166.00 in a research report on Thursday, October 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.38.

Hess Stock Up 5.1 %

HES opened at $148.11 on Tuesday. The firm’s 50-day simple moving average is $130.60 and its 200-day simple moving average is $118.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.66 and a current ratio of 1.78. Hess has a twelve month low of $68.32 and a twelve month high of $149.83. The firm has a market cap of $45.66 billion, a price-to-earnings ratio of 24.64 and a beta of 1.60.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, September 16th. Hess’s dividend payout ratio is 24.96%.

Insider Transactions at Hess

In other Hess news, SVP Andrew P. Slentz sold 37,419 shares of Hess stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $148.21, for a total value of $5,545,869.99. Following the transaction, the senior vice president now owns 29,327 shares in the company, valued at $4,346,554.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Hess news, SVP Andrew P. Slentz sold 37,419 shares of Hess stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $148.21, for a total value of $5,545,869.99. Following the transaction, the senior vice president now owns 29,327 shares in the company, valued at $4,346,554.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Gregory P. Hill sold 53,851 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $143.45, for a total value of $7,724,925.95. Following the sale, the chief operating officer now owns 78,434 shares in the company, valued at $11,251,357.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,270 shares of company stock valued at $14,755,556. 9.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Hess

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Hess by 0.5% in the second quarter. FMR LLC now owns 46,686,508 shares of the oil and gas producer’s stock valued at $4,945,968,000 after buying an additional 230,228 shares during the period. Vanguard Group Inc. grew its holdings in Hess by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,928,530 shares of the oil and gas producer’s stock worth $3,310,590,000 after buying an additional 667,979 shares in the last quarter. BlackRock Inc. grew its holdings in Hess by 14.6% during the first quarter. BlackRock Inc. now owns 26,172,982 shares of the oil and gas producer’s stock worth $2,801,554,000 after buying an additional 3,340,817 shares in the last quarter. State Street Corp grew its stake in Hess by 2.5% in the 1st quarter. State Street Corp now owns 19,149,066 shares of the oil and gas producer’s stock valued at $2,049,716,000 after purchasing an additional 469,433 shares during the period. Finally, Primecap Management Co. CA grew its stake in Hess by 0.5% in the 3rd quarter. Primecap Management Co. CA now owns 9,372,740 shares of the oil and gas producer’s stock valued at $1,021,535,000 after purchasing an additional 50,900 shares during the period. 86.23% of the stock is currently owned by institutional investors.

About Hess

(Get Rating)

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.

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Earnings History and Estimates for Hess (NYSE:HES)

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