Hess Corp. (NYSE:HES) – Stock analysts at Credit Agricole SA raised their FY2016 earnings per share estimates for Hess Corp. in a report released on Thursday. Credit Agricole SA analyst A. Sen now forecasts that the firm will earn ($4.97) per share for the year, up from their previous estimate of ($5.20). Credit Agricole SA also issued estimates for Hess Corp.’s FY2017 earnings at ($3.23) EPS and FY2018 earnings at ($2.84) EPS.
Hess Corp. (NYSE:HES) last announced its earnings results on Wednesday, October 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.24) by $0.12. Hess Corp. had a negative net margin of 63.18% and a negative return on equity of 7.51%. The business earned $1.20 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted ($1.03) earnings per share. Hess Corp.’s revenue for the quarter was down 29.2% on a year-over-year basis.
Other equities analysts have also recently issued research reports about the stock. Simmons reiterated an “overweight” rating on shares of Hess Corp. in a research note on Thursday, August 11th. Zacks Investment Research cut shares of Hess Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Barclays PLC lowered their price objective on shares of Hess Corp. from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Credit Suisse Group AG reiterated a “hold” rating and issued a $66.00 price objective on shares of Hess Corp. in a research note on Thursday, July 28th. Finally, Nomura reiterated a “hold” rating and issued a $56.00 price objective on shares of Hess Corp. in a research note on Monday, October 3rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $61.09.
Shares of Hess Corp. (NYSE:HES) opened at 50.30 on Monday. The company’s market capitalization is $15.75 billion. The stock has a 50 day moving average of $50.35 and a 200-day moving average of $55.37. Hess Corp. has a one year low of $32.41 and a one year high of $64.08.
In related news, COO Gregory P. Hill sold 15,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $55.99, for a total value of $839,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.83% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of HES. Exane Derivatives raised its position in Hess Corp. by 23.5% in the second quarter. Exane Derivatives now owns 2,333 shares of the company’s stock worth $140,000 after buying an additional 444 shares during the period. MSI Financial Services Inc raised its position in Hess Corp. by 110.1% in the third quarter. MSI Financial Services Inc now owns 2,691 shares of the company’s stock worth $144,000 after buying an additional 1,410 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in Hess Corp. during the second quarter worth $155,000. Ropes Wealth Advisors LLC raised its position in 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 period. Finally, Brandes Investment Partners LP acquired a new position in Hess Corp. during the second quarter worth $208,000. 83.22% of the stock is owned by hedge funds and other institutional investors.
About Hess Corp.