Brokers Offer Predictions for Hess Co.’s Q3 2024 Earnings (NYSE:HES)

Hess Co. (NYSE:HES) – Investment analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for Hess in a research note issued on Wednesday, August 14th. Zacks Research analyst N. Banerjee now anticipates that the oil and gas producer will post earnings of $2.52 per share for the quarter, up from their prior forecast of $2.25. The consensus estimate for Hess’ current full-year earnings is $11.08 per share. Zacks Research also issued estimates for Hess’ Q2 2025 earnings at $3.05 EPS, Q3 2025 earnings at $2.97 EPS and Q4 2025 earnings at $3.04 EPS.

Hess (NYSE:HES) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share.

A number of other research firms also recently weighed in on HES. Susquehanna dropped their target price on Hess from $167.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Wolfe Research initiated coverage on Hess in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein upgraded Hess from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $166.00 to $172.00 in a research report on Wednesday, July 17th. Citigroup upped their price objective on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. Finally, Scotiabank dropped their price objective on Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hess currently has a consensus rating of “Hold” and a consensus target price of $178.42.

Hess Trading Up 0.2 %

HES stock opened at $136.59 on Friday. The company has a market cap of $42.08 billion, a P/E ratio of 20.92 and a beta of 1.16. Hess has a twelve month low of $130.35 and a twelve month high of $167.75. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $145.05 and a 200-day moving average of $149.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC grew its stake in Hess by 1.4% in the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock valued at $779,000 after acquiring an additional 68 shares during the period. Drive Wealth Management LLC grew its stake in Hess by 1.6% in the second quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock valued at $678,000 after acquiring an additional 72 shares during the period. Quent Capital LLC grew its stake in Hess by 7.3% in the second quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock valued at $158,000 after acquiring an additional 73 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Hess by 17.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 77 shares during the period. Finally, Versant Capital Management Inc grew its stake in Hess by 16.9% in the second quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock valued at $80,000 after acquiring an additional 78 shares during the period. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Company Profile

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.