Hess (NYSE:HES) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Hess (NYSE:HESGet Free Report) issued its quarterly earnings data on Wednesday. The oil and gas producer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.43 by $0.20, RTT News reports. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.76 billion. Hess had a return on equity of 18.06% and a net margin of 14.94%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 earnings per share.

Hess Stock Down 2.1 %

Shares of NYSE:HES opened at $140.53 on Thursday. Hess has a 1 year low of $113.82 and a 1 year high of $167.75. The company has a market cap of $43.16 billion, a PE ratio of 27.08 and a beta of 1.37. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.31 and a quick ratio of 1.20. The stock’s 50-day moving average is $141.98 and its 200 day moving average is $148.24.

Hess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were issued a $0.4375 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $1.75 annualized dividend and a dividend yield of 1.25%. Hess’s dividend payout ratio is currently 33.72%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Harbour Investments Inc. increased its holdings in Hess by 24.0% during the 1st quarter. Harbour Investments Inc. now owns 403 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 78 shares during the period. Ossiam boosted its position in Hess by 1.0% during the 1st quarter. Ossiam now owns 8,093 shares of the oil and gas producer’s stock valued at $1,071,000 after acquiring an additional 79 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Hess by 5.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,667 shares of the oil and gas producer’s stock valued at $221,000 after acquiring an additional 80 shares in the last quarter. Brown Advisory Inc. boosted its position in Hess by 0.6% during the 4th quarter. Brown Advisory Inc. now owns 12,726 shares of the oil and gas producer’s stock valued at $1,805,000 after acquiring an additional 80 shares in the last quarter. Finally, Brinker Capital Investments LLC boosted its position in Hess by 1.5% during the 1st quarter. Brinker Capital Investments LLC now owns 5,887 shares of the oil and gas producer’s stock valued at $630,000 after acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on HES shares. Argus raised Hess from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a research report on Tuesday, November 7th. Susquehanna cut their price target on Hess from $160.00 to $152.00 and set a “neutral” rating for the company in a report on Friday, January 26th. Piper Sandler raised their price target on Hess from $167.00 to $169.00 and gave the stock an “overweight” rating in a report on Monday, October 9th. UBS Group cut their price target on Hess from $210.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Finally, StockNews.com started coverage on Hess in a report on Sunday. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $172.71.

Get Our Latest Analysis on HES

Hess Company Profile

(Get Free Report)

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.

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Earnings History for Hess (NYSE:HES)

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