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

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

Hess Trading Up 0.2 %

HES traded up $0.21 on Thursday, reaching $134.48. 1,361,203 shares of the company traded hands, compared to its average volume of 2,125,584. The company has a market cap of $41.44 billion, a P/E ratio of 15.61 and a beta of 1.15. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. Hess has a one year low of $123.79 and a one year high of $163.98. The firm has a fifty day simple moving average of $135.36 and a two-hundred day simple moving average of $144.24.

Hess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. 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%. Hess’s dividend payout ratio is presently 23.26%.

Analyst Ratings Changes

HES has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. BMO Capital Markets increased their price target on shares of Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $166.00 to $172.00 in a research note on Wednesday, July 17th. UBS Group lowered their price objective on Hess from $192.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Piper Sandler cut their target price on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hess has an average rating of “Moderate Buy” and a consensus target price 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.