Hess (NYSE:HES) Posts 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43, Briefing.com reports. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The firm’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS.

Hess Stock Up 0.7 %

Hess stock traded up $1.08 during midday trading on Friday, hitting $162.53. 1,932,985 shares of the stock were exchanged, compared to its average volume of 2,566,094. Hess has a 52-week low of $124.27 and a 52-week high of $167.75. The stock has a market capitalization of $50.08 billion, a price-to-earnings ratio of 35.78 and a beta of 1.27. The business’s 50-day moving average price is $151.09 and its 200-day moving average price is $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.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s dividend payout ratio (DPR) is presently 38.89%.

Analyst Ratings Changes

HES has been the subject of several recent research reports. Susquehanna upped their price target on shares of Hess from $156.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday. Mizuho increased 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. Piper Sandler increased 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. Finally, StockNews.com started coverage on shares of Hess in a research report on Thursday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $177.42.

Insider Buying and Selling

In related news, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the transaction, the senior vice president now directly owns 33,581 shares in the company, valued at $5,073,417.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Hess news, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $145.87, for a total value of $10,777,604.95. Following the sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 33,581 shares in the company, valued at approximately $5,073,417.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is owned by insiders.

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.