Hess (NYSE:HES) Issues Quarterly Earnings Results, Beats Estimates By $0.26 EPS

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

Hess Stock Up 0.2 %

NYSE HES traded up $0.21 during trading on Thursday, reaching $134.48. 1,360,398 shares of the company’s stock traded hands, compared to its average volume of 2,125,584. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. The firm has a market cap of $41.44 billion, a price-to-earnings ratio of 15.61 and a beta of 1.15. The company’s 50 day simple moving average is $135.36 and its two-hundred day simple moving average is $144.24. Hess has a 12-month low of $123.79 and a 12-month high of $163.98.

Hess Increases Dividend

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

Analyst Ratings Changes

HES has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Scotiabank raised their price target on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. StockNews.com started coverage on shares of Hess in a report on Friday, October 25th. They issued a “hold” rating for the company. Susquehanna raised their price target on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group dropped their price objective on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Hess presently has an average 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.