Todays Report: The Hess Corp. to Post Q4 2016 Earnings of ($1.06) Per Share, Capital One Financial Corp. Forecasts (HES)

The Hess Corp. to Post Q4 2016 Earnings of ($1.06) Per Share, Capital One Financial Corp. Forecasts (HES)

Hess Corp. (NYSE:HES) – Analysts at Capital One Financial Corp. reduced their Q4 2016 EPS estimates for shares of Hess Corp. in a research report issued to clients and investors on Thursday. Capital One Financial Corp. analyst P. Johnston now forecasts that the brokerage will post earnings of ($1.06) per share for the quarter, down from their previous forecast of ($0.93). Capital One Financial Corp. also issued estimates for Hess Corp.’s FY2017 earnings at ($4.20) EPS.

Hess Corp. (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 26th. The company reported ($1.12) EPS for the quarter, beating the consensus estimate of ($1.24) by $0.12. Hess Corp. had a negative return on equity of 7.51% and a negative net margin of 63.18%. The firm earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm posted ($1.03) earnings per share. The business’s quarterly revenue was down 29.2% compared to the same quarter last year.

Other research analysts have also issued reports about the company. KLR Group started coverage on Hess Corp. in a research report on Monday, September 12th. They issued an “accumulate” rating and a $65.00 price objective for the company. Bank of America Corp. reissued a “buy” rating and issued a $85.00 price objective on shares of Hess Corp. in a research report on Monday, August 22nd. Zacks Investment Research raised Hess Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, July 29th. Barclays PLC reissued an “equal weight” rating and issued a $64.00 price objective on shares of Hess Corp. in a research report on Monday, October 10th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $66.00 price objective on shares of Hess Corp. in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Hess Corp. currently has a consensus rating of “Hold” and a consensus price target of $61.09.

Hess Corp. (NYSE:HES) opened at 50.30 on Monday. The company’s 50-day moving average price is $50.35 and its 200 day moving average price is $55.37. Hess Corp. has a 12 month low of $32.41 and a 12 month high of $64.08. The firm’s market capitalization is $15.75 billion.

In related news, COO Gregory P. Hill sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $55.99, for a total value of $839,850.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.83% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of HES. Zurich Insurance Group Ltd FI purchased a new position in Hess Corp. during the first quarter valued at approximately $2,482,000. Adage Capital Partners GP L.L.C. increased its position in Hess Corp. by 86.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,243,700 shares of the company’s stock valued at $118,131,000 after buying an additional 1,040,700 shares during the last quarter. National Pension Service increased its position in Hess Corp. by 4.4% in the first quarter. National Pension Service now owns 169,663 shares of the company’s stock valued at $8,933,000 after buying an additional 7,209 shares during the last quarter. Nuveen Asset Management LLC increased its position in Hess Corp. by 693.3% in the first quarter. Nuveen Asset Management LLC now owns 338,090 shares of the company’s stock valued at $17,800,000 after buying an additional 295,471 shares during the last quarter. Finally, Hancock Holding Co. increased its position in Hess Corp. by 25.8% in the first quarter. Hancock Holding Co. now owns 238,740 shares of the company’s stock valued at $12,569,000 after buying an additional 48,969 shares during the last quarter. Institutional investors and hedge funds own 83.22% of the company’s stock.

Hess Corp. Company Profile

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