Hess (NYSE:HES) Releases Earnings Results

Hess (NYSE:HES) announced its earnings results on Thursday. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43, Briefing.com reports. Hess had a net margin of 12.98% and a return on equity of 17.00%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was up 36.2% on a year-over-year basis.

Hess Stock Up 0.7 %

Shares of HES stock traded up $1.08 during trading on Friday, reaching $162.53. The company’s stock had a trading volume of 1,932,943 shares, compared to its average volume of 2,563,011. The business has a fifty day moving average price of $151.09 and a 200-day moving average price of $147.20. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88. The company has a market cap of $50.08 billion, a price-to-earnings ratio of 35.78 and a beta of 1.27. Hess has a one year low of $124.27 and a one year high of $167.75.

Hess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Friday, March 15th. Hess’s dividend payout ratio is presently 38.89%.

Insider Transactions at Hess

In other news, SVP Andrew P. Slentz sold 1,062 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $153,480.24. Following the sale, the senior vice president now owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Hess news, SVP Andrew P. Slentz sold 1,062 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total transaction of $153,480.24. Following the sale, the senior vice president now directly owns 50,215 shares of the company’s stock, valued at $7,257,071.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Geurt G. Schoonman sold 13,921 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the sale, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The disclosure for this sale can be found here. Insiders have sold a total of 155,798 shares of company stock valued at $22,811,166 over the last 90 days. 9.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HES shares. Susquehanna lifted their price target on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday. Piper Sandler lifted their price target on shares of Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Mizuho lifted their price target on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, StockNews.com initiated coverage on shares of Hess in a report on Thursday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Hess currently has an average rating of “Hold” and an average price target of $177.42.

About Hess

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.