Hess (NYSE:HES) Posts Quarterly Earnings Results, Beats Expectations By $1.43 EPS

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

Hess Trading Up 0.7 %

Shares of NYSE HES traded up $1.08 on Friday, reaching $162.53. 1,933,066 shares of the company traded hands, compared to its average volume of 1,759,491. Hess has a fifty-two week low of $124.27 and a fifty-two week high of $167.75. The company has a 50 day moving average of $151.37 and a 200 day moving average of $147.22. 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 stock has a market capitalization of $50.08 billion, a PE ratio of 24.89 and a beta of 1.27.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio is currently 26.80%.

Insider Activity

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

Wall Street Analysts Forecast Growth

HES has been the topic of several recent research reports. Piper Sandler boosted their price objective 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 boosted their price objective 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. StockNews.com initiated coverage on shares of Hess in a research report on Thursday. They issued a “sell” rating on the stock. Finally, Susquehanna boosted their price objective on shares of Hess from $156.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.