Hess (NYSE:HES) Announces Quarterly Earnings Results

Hess (NYSE:HES) issued its earnings results on Wednesday. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.26, Briefing.com reports. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.96 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share.

Hess Stock Performance

NYSE HES traded up $0.21 on Thursday, reaching $134.48. 1,361,203 shares of the stock were exchanged, compared to its average volume of 2,125,584. The firm has a market capitalization of $41.44 billion, a PE ratio of 15.61 and a beta of 1.15. Hess has a one year low of $123.79 and a one year high of $163.98. The company’s 50-day simple moving average is $135.36 and its two-hundred day simple moving average is $144.24. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, September 16th. Hess’s payout ratio is presently 23.26%.

Wall Street Analyst Weigh In

HES has been the subject of a number of research analyst reports. Piper Sandler reduced their target price on Hess from $173.00 to $167.00 in a report on Friday, September 13th. StockNews.com started coverage on Hess in a report on Friday, October 25th. They issued a “hold” rating for the company. Sanford C. Bernstein upgraded shares of Hess from a “market perform” rating to an “outperform” rating and upped their target price for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. Wells Fargo & Company reduced their price target on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. Finally, Susquehanna boosted their price objective on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hess presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

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.