Capital One – Q3 2021 EPS Estimates for Hess Co. Lowered by Capital One Financial (NYSE:HES)
Hess Co. (NYSE:HES) – Equities researchers at Capital One Financial decreased their Q3 2021 earnings per share (EPS) estimates for shares of Hess in a research note issued to investors on Thursday, September 9th. Capital One Financial analyst P. Johnston now anticipates that the oil and gas producer will earn $0.51 per share for the quarter, down from their prior forecast of $0.57. Capital One Financial also issued estimates for Hess’ Q1 2022 earnings at $0.81 EPS, Q2 2022 earnings at $1.12 EPS, Q3 2022 earnings at $1.58 EPS and Q4 2022 earnings at $1.60 EPS. Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, July 28th. The oil and gas producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.51 billion. Hess had a negative return on equity of 1.00% and a negative net margin of 2.63%. During the same period last year, the business posted ($1.05) EPS.
HES has been the topic of several other reports. Citigroup dropped their target price on Hess from $102.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler raised their target price on Hess from $94.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, July 23rd. They noted that the move was a valuation call. Sanford C. Bernstein raised their target price on Hess from $91.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, June 21st. Tudor Pickering started coverage on Hess in a report on Thursday, May 27th. They set a “hold” rating and a $93.00 target price on the stock. Finally, Zacks Investment Research downgraded Hess from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a report on Wednesday, August 18th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $86.56.
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Hess stock opened at $68.58 on Friday. The stock’s 50-day moving average is $73.78 and its 200-day moving average is $76.16. The company has a market cap of $21.24 billion, a price-to-earnings ratio of -127.00 and a beta of 2.20. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.57 and a quick ratio of 1.48. Hess has a 12 month low of $34.82 and a 12 month high of $91.09.
A number of large investors have recently added to or reduced their stakes in HES. FMR LLC boosted its position in Hess by 8.3% during the 2nd quarter. FMR LLC now owns 38,886,142 shares of the oil and gas producer’s stock valued at $3,395,538,000 after purchasing an additional 2,970,483 shares during the period. Goldman Sachs Group Inc. boosted its position in Hess by 254.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,298,368 shares of the oil and gas producer’s stock valued at $233,393,000 after purchasing an additional 2,367,733 shares during the period. Amundi acquired a new position in Hess during the 2nd quarter valued at approximately $162,199,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Hess by 14.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,896,619 shares of the oil and gas producer’s stock valued at $776,852,000 after purchasing an additional 1,098,577 shares during the period. Finally, Primecap Management Co. CA boosted its position in Hess by 10.9% during the 1st quarter. Primecap Management Co. CA now owns 9,458,225 shares of the oil and gas producer’s stock valued at $669,264,000 after purchasing an additional 926,040 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.
In other news, CEO John B. Hess sold 150,000 shares of Hess stock in a transaction that occurred on Wednesday, June 16th. The stock was sold at an average price of $89.24, for a total value of $13,386,000.00. Following the completion of the transaction, the chief executive officer now owns 137,525 shares in the company, valued at approximately $12,272,731. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.79% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th will be given a $0.25 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.46%. Hess’s payout ratio is -34.13%.
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.
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Q3 2021 EPS Estimates for Hess Co. Lowered by Capital One Financial (NYSE:HES)