Hess (NYSE:HES) Posts Earnings Results, Beats Expectations By $0.14 EPS

Hess (NYSE:HES) released its earnings results on Wednesday. The oil and gas producer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.48 by $0.14, Briefing.com reports. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 earnings per share.

Hess Stock Up 1.1 %

Shares of NYSE HES traded up $1.73 during trading hours on Wednesday, hitting $153.42. The stock had a trading volume of 1,184,567 shares, compared to its average volume of 2,353,607. The company has a market capitalization of $47.27 billion, a P/E ratio of 23.49 and a beta of 1.16. The firm’s 50-day moving average price is $148.67 and its two-hundred day moving average price is $149.69. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. Hess has a 52 week low of $131.61 and a 52 week high of $167.75.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.75 annualized dividend and a dividend yield of 1.14%. Hess’s dividend payout ratio is 26.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HES shares. Piper Sandler lifted their target price on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Scotiabank reduced their price objective on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Citigroup lifted their target price on shares of Hess from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 5th. Susquehanna reduced their price target on shares of Hess from $167.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, Mizuho lifted their price objective on shares of Hess from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hess presently has a consensus rating of “Hold” and an average target price of $178.58.

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.