Hess (NYSE:HES) Releases Earnings Results, Beats Estimates By $0.14 EPS

Hess (NYSE:HES) issued its earnings results on Wednesday. The oil and gas producer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14, Briefing.com reports. Hess had a net margin of 21.22% and a return on equity of 28.40%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. Hess’s revenue for the quarter was up 40.3% on a year-over-year basis.

Hess Stock Down 3.6 %

NYSE HES traded down $5.05 during trading on Friday, reaching $136.18. 907,769 shares of the company’s stock traded hands, compared to its average volume of 2,373,369. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.23 and a quick ratio of 1.10. The firm has a market cap of $41.96 billion, a price-to-earnings ratio of 21.63 and a beta of 1.16. The company’s 50 day simple moving average is $148.49 and its two-hundred day simple moving average is $149.63. Hess has a 12-month low of $131.61 and a 12-month high of $167.75.

Hess Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Friday, June 14th. Hess’s dividend payout ratio is presently 26.80%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price 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 increased their price objective on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Susquehanna lowered their price objective on shares of Hess from $167.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Sanford C. Bernstein upgraded shares of Hess from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $166.00 to $172.00 in a research report on Wednesday, July 17th. Finally, Citigroup increased their price objective on shares of Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, June 5th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Hess currently has a consensus rating of “Hold” and a consensus price target of $178.58.

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.