Published: Thu, October 26, 2017
Business | By Max Garcia

Hess Corporation (HES) Announces Earnings Results

Hess Corporation (HES) Announces Earnings Results

Swiss National Bank raised its holdings in shares of Hess Corporation by 2.8% in the 2nd quarter.

Hess this week secured more than $2 billion in the sales. Hot Stocks Point (HSP) makes sure to keep the information up to date and correct, but we didn't suggest or recommend buying or selling of any financial instrument unless that information is subsequently confirmed on your own. Shell Asset Management Co. boosted its stake in Hess Corporation by 0.5% in the third quarter. The shares were sold at an average price of $38.37, for a total transaction of $449,926.62. Analysts are turning out to be more optimistic than before, with 9 of analysts who cover Hess Corporation (NYSE:HES) advice adding it to buy candidate list. The institutional investor owned 58,610 shares of the company's stock after buying an additional 3,812 shares during the period. California State Teachers Retirement System owned 0.16% of Hess Corporation worth $22,915,000 as of its most recent filing with the Securities & Exchange Commission.

The stock of Hess Corporation (NYSE:HES) registered an increase of 2.33% in short interest. Hess Corporation has a 12 month low of $37.25 and a 12 month high of $65.56. When looking at the past five sessions, the stock returned -4.13% losses and is down by -5.93% compared with its 200-day moving average of $44.48.

Hess Corporation (NYSE:HES) issued its earnings results on Wednesday. The oil and gas producer reported ($1.07) EPS for the quarter, beating the consensus estimate of ($1.29) by $0.22. Hess Corporation had a negative return on equity of 8.49% and a negative net margin of 118.07%. The business had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.27 billion. According to the Analysts, the Low Earnings estimate for the current quarter is $-1.43, while the High earnings estimate is $-0.3.Comparatively, EPS for the same quarter previous year was $-0.57. The business's revenue was up 39.3% compared to the same quarter a year ago. On average, analysts forecast that Hess Corporation will post ($4.86) earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%.

On 9/6/2017 Hess Corporation announced a quarterly dividend of $0.25 2.42% with an ex dividend date of 9/15/2017 which will be payable on 9/29/2017.

Hess Corporation (HES) now the company's industry has 12.47 P/E and the sector P/E is 16.52. Credit Agricole initiated the shares of HES in report on Tuesday, December 15 with "Buy" rating.

WARNING: "14,934 Shares in Hess Corporation (HES) Acquired by Equitec Specialists LLC" was posted by Week Herald and is owned by of Week Herald. Wolfe Research cut Hess Corporation from an "outperform" rating to a "market perform" rating in a report on Monday, July 17th. The firm's market capitalization is $13.27 billion. Finally, Goldman Sachs Group, Inc. Scotiabank set a $52.00 price objective on shares of Hess Corporation and gave the company a "buy" rating in a report on Wednesday.

With the makeover, Hess is building a war chest to help develop a discovery off the coast of Guyana in South America that may hold the equivalent of 2.5 Bbbl of oil, according to company estimates. They now have a $45.00 price target on the stock, up previously from $52.00. The stock was sold at an average price of $47.41, for a total transaction of $237,050.00. The sale was disclosed in a filing with the SEC, which is available at this link. The stock was sold at an average price of $43.47, for a total value of $168,359.31. The disclosure for this sale can be found here.

Hess said its spending on exploration and production during the third quarter was $558 million, up from the $433 million during third quarter 2016. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company's divisions include Exploration and Production, and Bakken Midstream. (NYSE:HES). Williams Jones And Assoc Ltd Llc holds 0.01% or 7,812 shares in its portfolio.

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