Hess (NYSE:HES) Announces Earnings Results

Hess (NYSE:HES) released its quarterly earnings data on Thursday. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43, Briefing.com reports. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. Hess’s quarterly revenue was up 36.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 EPS.

Hess Trading Up 0.7 %

Hess stock traded up $1.08 during trading on Friday, hitting $162.53. The company had a trading volume of 1,933,066 shares, compared to its average volume of 1,759,491. Hess has a 1-year low of $124.27 and a 1-year high of $167.75. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 0.81. The company’s 50 day simple moving average is $151.37 and its 200-day simple moving average is $147.26. The stock has a market cap of $50.08 billion, a price-to-earnings ratio of 24.89 and a beta of 1.27.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued a $0.4375 dividend. The ex-dividend date was Friday, March 15th. This represents a $1.75 annualized dividend and a yield of 1.08%. Hess’s dividend payout ratio (DPR) is presently 26.80%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HES. Piper Sandler increased their price objective on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Mizuho raised their price target on shares of Hess from $200.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Susquehanna raised their price target on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Finally, StockNews.com assumed coverage on shares of Hess in a report on Thursday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Hess has an average rating of “Hold” and a consensus price target of $177.42.

Insider Activity at Hess

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the completion of the transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at approximately $5,073,417.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John B. Hess sold 73,885 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the transaction, the chief executive officer now directly owns 138,718 shares of the company’s stock, valued at approximately $20,234,794.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,798 shares of company stock worth $22,811,166. Insiders own 9.76% of the company’s stock.

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.