Hess (NYSE:HES) Releases Earnings Results, Beats Expectations By $0.18 EPS

Hess (NYSE:HESGet Rating) issued its quarterly earnings data on Wednesday. The oil and gas producer reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.18, MarketWatch Earnings reports. Hess had a return on equity of 12.35% and a net margin of 9.01%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 23.6% on a year-over-year basis.

NYSE HES traded down $2.08 during trading on Friday, reaching $103.07. 2,005,351 shares of the company’s stock were exchanged, compared to its average volume of 1,949,468. The stock has a market cap of $32.08 billion, a P/E ratio of 44.43 and a beta of 1.76. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.35 and a current ratio of 1.42. The company has a 50 day moving average price of $104.03 and a two-hundred day moving average price of $91.14. Hess has a 1 year low of $61.93 and a 1 year high of $117.06.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Monday, March 14th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.46%. This is an increase from Hess’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 11th. Hess’s payout ratio is 64.66%.

A number of equities research analysts have recently weighed in on HES shares. Barclays lifted their price objective on Hess from $124.00 to $131.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. Susquehanna Bancshares lifted their price objective on Hess from $118.00 to $138.00 and gave the company a “positive” rating in a research note on Monday, April 25th. Citigroup dropped their price objective on Hess from $92.00 to $89.00 in a research note on Monday, January 3rd. StockNews.com started coverage on Hess in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Wells Fargo & Company boosted their target price on Hess from $106.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, March 11th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $119.87.

In other news, SVP Barbara J. Lowery-Yilmaz sold 7,405 shares of the business’s stock in a transaction dated Thursday, February 3rd. The stock was sold at an average price of $91.00, for a total value of $673,855.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gregory P. Hill sold 13,771 shares of the business’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $106.23, for a total value of $1,462,893.33. The disclosure for this sale can be found here. Insiders have sold a total of 1,002,198 shares of company stock valued at $96,261,545 over the last ninety days. 12.22% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of HES. Parametric Portfolio Associates LLC lifted its holdings in shares of Hess by 2.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 867,243 shares of the oil and gas producer’s stock valued at $64,202,000 after purchasing an additional 21,303 shares during the last quarter. Privium Fund Management UK Ltd acquired a new position in Hess in the 4th quarter valued at about $1,549,000. Allstate Corp increased its position in Hess by 250.7% in the 4th quarter. Allstate Corp now owns 28,862 shares of the oil and gas producer’s stock valued at $2,137,000 after acquiring an additional 20,633 shares during the period. Marshall Wace LLP acquired a new position in Hess in the 4th quarter valued at about $731,000. Finally, California State Teachers Retirement System increased its position in Hess by 1.9% in the 4th quarter. California State Teachers Retirement System now owns 476,051 shares of the oil and gas producer’s stock valued at $35,242,000 after acquiring an additional 8,743 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Hess Company Profile (Get Rating)

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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