Trade Report: The Analysts Set Expectations for Hess Corp.’s Q3 2016 Earnings (HES)

The Analysts Set Expectations for Hess Corp.’s Q3 2016 Earnings (HES)

Hess Corp. (NYSE:HES) – Analysts at Credit Agricole SA issued their Q3 2016 earnings per share estimates for Hess Corp. in a report released on Wednesday. Credit Agricole SA analyst A. Sen expects that the brokerage will earn ($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.

Several other research firms have also recently commented on HES. Bank of America Corp. restated a “buy” rating and issued a $85.00 price target on shares of Hess Corp. in a report on Monday, August 22nd. Zacks Investment Research cut Hess Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Simmons lifted their price target on Hess Corp. from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, July 12th. Barclays PLC restated an “equal weight” rating and issued a $64.00 price target on shares of Hess Corp. in a report on Monday, October 10th. Finally, Nomura restated a “hold” rating and issued a $56.00 price target on shares of Hess Corp. in a report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $61.09.

Shares of Hess Corp. (NYSE:HES) opened at 51.70 on Friday. The company has a 50-day moving average of $50.96 and a 200 day moving average of $55.44. The firm’s market cap is $16.19 billion. Hess Corp. has a one year low of $32.41 and a one year high of $64.08.

Hess Corp. (NYSE:HES) last issued its earnings results on Wednesday, July 27th. The company reported ($1.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.14. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Hess Corp. had a negative net margin of 56.22% and a negative return on equity of 7.16%. The firm’s revenue was down 34.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.52) earnings per share.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bollard Group LLC increased its position in shares of Hess Corp. by 0.5% in the second quarter. Bollard Group LLC now owns 10,250 shares of the company’s stock worth $616,000 after buying an additional 48 shares during the last quarter. River Wealth Advisors LLC increased its position in shares of Hess Corp. by 0.7% in the second quarter. River Wealth Advisors LLC now owns 7,179 shares of the company’s stock worth $431,000 after buying an additional 53 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in shares of Hess Corp. by 1.6% in the second quarter. Ropes Wealth Advisors LLC now owns 3,442 shares of the company’s stock worth $207,000 after buying an additional 55 shares during the last quarter. Creative Planning increased its position in shares of Hess Corp. by 1.4% in the third quarter. Creative Planning now owns 9,747 shares of the company’s stock worth $523,000 after buying an additional 132 shares during the last quarter. Finally, Conning Inc. increased its position in shares of Hess Corp. by 1.9% in the second quarter. Conning Inc. now owns 7,857 shares of the company’s stock worth $472,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 82.92% of the company’s stock.

In related news, COO Gregory P. Hill sold 15,000 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $55.99, for a total transaction of $839,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Thursday, September 15th. Hess Corp.’s dividend payout ratio is currently -9.60%.

Hess Corp. Company Profile

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