Q4 2022 EPS Estimates for Hess Co. Lowered by Jefferies Financial Group (NYSE:HES)

Hess Co. (NYSE:HESGet Rating) – Analysts at Jefferies Financial Group cut their Q4 2022 EPS estimates for Hess in a note issued to investors on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now anticipates that the oil and gas producer will post earnings per share of $1.75 for the quarter, down from their previous forecast of $2.15. 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 $7.09 per share. Jefferies Financial Group also issued estimates for Hess’ Q1 2023 earnings at $1.59 EPS, Q2 2023 earnings at $1.60 EPS, Q3 2023 earnings at $1.64 EPS, Q4 2023 earnings at $1.87 EPS, FY2023 earnings at $6.71 EPS, Q1 2024 earnings at $1.98 EPS and FY2024 earnings at $7.85 EPS.

Hess (NYSE:HESGet Rating) last released its earnings results on Wednesday, October 26th. The oil and gas producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.01. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $2.94 billion. Hess had a net margin of 17.31% and a return on equity of 25.57%.

A number of other brokerages also recently commented on HES. Susquehanna Bancshares boosted their price objective on shares of Hess from $144.00 to $166.00 in a research report on Thursday, October 27th. Citigroup boosted their price objective on shares of Hess from $130.00 to $155.00 in a research report on Tuesday, November 22nd. Piper Sandler lowered their price objective on shares of Hess from $164.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. StockNews.com began coverage on shares of Hess in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Mizuho downgraded shares of Hess from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $150.00 to $164.00 in a research report on Tuesday, January 10th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Hess presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.14.

Hess Stock Performance

Hess stock opened at $154.80 on Friday. The firm’s 50 day simple moving average is $142.15 and its 200-day simple moving average is $126.71. The company has a market cap of $47.73 billion, a P/E ratio of 25.76 and a beta of 1.55. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.78 and a quick ratio of 1.66. Hess has a fifty-two week low of $83.56 and a fifty-two week high of $156.98.

Institutional Trading of Hess

A number of institutional investors and hedge funds have recently modified their holdings of the company. Metis Global Partners LLC lifted its stake in shares of Hess by 1.7% in the third quarter. Metis Global Partners LLC now owns 4,176 shares of the oil and gas producer’s stock worth $454,000 after buying an additional 69 shares during the last quarter. CHICAGO TRUST Co NA raised its stake in Hess by 2.0% during the 4th quarter. CHICAGO TRUST Co NA now owns 4,320 shares of the oil and gas producer’s stock valued at $613,000 after purchasing an additional 85 shares during the last quarter. Brinker Capital Investments LLC raised its stake in Hess by 1.5% during the 1st quarter. Brinker Capital Investments LLC now owns 5,887 shares of the oil and gas producer’s stock valued at $630,000 after purchasing an additional 86 shares during the last quarter. SouthState Corp raised its stake in Hess by 14.5% during the 3rd quarter. SouthState Corp now owns 704 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 89 shares during the last quarter. Finally, Avitas Wealth Management LLC raised its stake in Hess by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 16,020 shares of the oil and gas producer’s stock valued at $2,272,000 after purchasing an additional 92 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hess news, SVP Andrew P. Slentz sold 37,419 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $148.21, for a total value of $5,545,869.99. Following the completion of the sale, the senior vice president now directly owns 29,327 shares of the company’s stock, valued at $4,346,554.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Gregory P. Hill sold 53,851 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $143.45, for a total value of $7,724,925.95. Following the completion of the sale, the chief operating officer now directly owns 78,434 shares in the company, valued at $11,251,357.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew P. Slentz sold 37,419 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $148.21, for a total transaction of $5,545,869.99. Following the completion of the sale, the senior vice president now owns 29,327 shares of the company’s stock, valued at $4,346,554.67. The disclosure for this sale can be found here. Insiders own 9.93% of the company’s stock.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Monday, December 19th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, December 16th. Hess’s dividend payout ratio is 24.96%.

Hess Company Profile

(Get Rating)

Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.

See Also

Earnings History and Estimates for Hess (NYSE:HES)

Receive News & Ratings for Hess Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hess and related companies with MarketBeat.com's FREE daily email newsletter.