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

Hess (NYSE:HES) announced its quarterly earnings results 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 firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The company’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 earnings per share.

Hess Stock Up 0.7 %

Hess stock traded up $1.08 on Friday, hitting $162.53. 1,932,985 shares of the stock traded hands, compared to its average volume of 2,566,094. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.88. The firm has a market cap of $50.08 billion, a P/E ratio of 35.78 and a beta of 1.27. The business’s fifty day simple moving average is $151.09 and its 200 day simple moving average is $147.20. Hess has a 1 year low of $124.27 and a 1 year high of $167.75.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.08%. The ex-dividend date was Friday, March 15th. Hess’s dividend payout ratio is currently 38.89%.

Wall Street Analyst Weigh In

HES has been the topic of a number of recent research reports. Piper Sandler increased their price target on shares of Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Susquehanna increased 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. StockNews.com initiated coverage on shares of Hess in a research report on Thursday. They set a “sell” rating on the stock. Finally, Mizuho increased their price target on shares of Hess from $200.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $177.42.

Insider Buying and Selling at Hess

In other Hess news, CEO John B. Hess sold 73,885 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was 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 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 Securities & Exchange Commission, which is accessible through this link. In other news, EVP Timothy B. Goodell sold 2,701 shares of Hess stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $390,348.52. Following the completion of the transaction, the executive vice president now owns 162,144 shares of the company’s stock, valued at approximately $23,433,050.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $145.87, for a total value 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. Over the last 90 days, insiders sold 155,798 shares of company stock valued at $22,811,166. 9.76% of the stock is currently owned by company insiders.

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.