Hess Corporation (NYSE:HES) – Stock analysts at Capital One Financial Corporation cut their Q2 2017 earnings estimates for shares of Hess Corporation in a research note issued to investors on Wednesday. Capital One Financial Corporation analyst P. Johnston now expects that the oil and gas producer will earn ($1.19) per share for the quarter, down from their prior forecast of ($1.05). Capital One Financial Corporation currently has a “Underweight” rating and a $50.00 target price on the stock. Capital One Financial Corporation also issued estimates for Hess Corporation’s Q3 2017 earnings at ($1.21) EPS, Q4 2017 earnings at ($1.22) EPS, FY2017 earnings at ($4.69) EPS and FY2018 earnings at ($4.14) EPS.
Hess Corporation (NYSE:HES) last posted its earnings results on Wednesday, April 26th. The oil and gas producer reported ($1.07) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.03. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Hess Corporation had a negative return on equity of 7.15% and a negative net margin of 116.02%. The firm’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.72) earnings per share.
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Several other equities analysts also recently weighed in on the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $80.00 target price on shares of Hess Corporation in a research report on Friday, April 14th. Barclays PLC dropped their target price on Hess Corporation from $39.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, April 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $55.00 target price on shares of Hess Corporation in a research report on Monday, May 15th. Wells Fargo & Company raised Hess Corporation from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $46.13 to $45.84 in a research report on Friday, May 5th. They noted that the move was a valuation call. Finally, Scotiabank reaffirmed a “buy” rating and issued a $65.00 target price on shares of Hess Corporation in a research report on Tuesday, March 14th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $57.22.
Shares of Hess Corporation (NYSE HES) opened at 41.40 on Friday. The company’s 50-day moving average price is $46.85 and its 200 day moving average price is $52.10. Hess Corporation has a 1-year low of $40.02 and a 1-year high of $65.56. The stock’s market cap is $13.00 billion.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Wednesday, June 14th. Hess Corporation’s dividend payout ratio is presently -5.23%.
Several institutional investors have recently made changes to their positions in the company. D Orazio & Associates Inc. increased its position in shares of Hess Corporation by 266.7% in the first quarter. D Orazio & Associates Inc. now owns 2,200 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 1,600 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Hess Corporation during the first quarter worth approximately $111,000. State of Alaska Department of Revenue bought a new position in shares of Hess Corporation during the first quarter worth approximately $114,000. Financial Architects Inc increased its position in shares of Hess Corporation by 147.6% in the first quarter. Financial Architects Inc now owns 2,600 shares of the oil and gas producer’s stock worth $125,000 after buying an additional 1,550 shares in the last quarter. Finally, Federated Investors Inc. PA increased its position in shares of Hess Corporation by 47.7% in the fourth quarter. Federated Investors Inc. PA now owns 2,577 shares of the oil and gas producer’s stock worth $161,000 after buying an additional 832 shares in the last quarter. 85.66% of the stock is owned by institutional investors and hedge funds.
Hess Corporation Company Profile
Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.
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