Hess (NYSE:HES) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Hess (NYSE:HESGet Rating) announced its quarterly earnings data on Wednesday. The oil and gas producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.09, Briefing.com reports. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Hess had a return on equity of 25.57% and a net margin of 17.31%. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS.

Hess Stock Performance

Shares of NYSE:HES opened at $157.89 on Thursday. The firm has a market capitalization of $48.68 billion, a PE ratio of 26.27 and a beta of 1.55. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.78 and a quick ratio of 1.66. The business has a 50-day moving average of $142.66 and a two-hundred day moving average of $128.11. Hess has a 12 month low of $86.42 and a 12 month high of $157.89.

Hess Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Monday, December 19th were paid a $0.375 dividend. The ex-dividend date was Friday, December 16th. This represents a $1.50 annualized dividend and a yield of 0.95%. Hess’s payout ratio is currently 24.96%.

Insiders Place Their Bets

In other Hess news, SVP Andrew P. Slentz sold 37,419 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $148.21, for a total transaction of $5,545,869.99. Following the completion of the sale, the senior vice president now directly owns 29,327 shares in the company, valued at $4,346,554.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hess news, COO Gregory P. Hill sold 53,851 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $143.45, for a total transaction of $7,724,925.95. Following the completion of the sale, the chief operating officer now directly owns 78,434 shares in the company, valued at $11,251,357.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew P. Slentz sold 37,419 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $148.21, for a total value of $5,545,869.99. Following the sale, the senior vice president now owns 29,327 shares of the company’s stock, valued at $4,346,554.67. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hess

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Centaurus Financial Inc. acquired a new stake in shares of Hess in the first quarter valued at about $107,000. Covestor Ltd grew its stake in shares of Hess by 474.3% in the first quarter. Covestor Ltd now owns 1,252 shares of the oil and gas producer’s stock valued at $134,000 after buying an additional 1,034 shares in the last quarter. Enlightenment Research LLC acquired a new stake in shares of Hess in the first quarter valued at about $215,000. Glenmede Trust Co. NA acquired a new stake in shares of Hess in the third quarter valued at about $243,000. Finally, SVB Wealth LLC acquired a new stake in shares of Hess in the first quarter valued at about $245,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HES has been the subject of several recent research reports. Piper Sandler decreased their price objective on Hess from $164.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, December 19th. Citigroup lifted their price objective on Hess from $130.00 to $155.00 in a research note on Tuesday, November 22nd. Susquehanna Bancshares raised their target price on Hess from $144.00 to $166.00 in a research report on Thursday, October 27th. Wells Fargo & Company lifted their price target on Hess from $162.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Barclays lifted their price target on Hess from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Hess currently has an average rating of “Moderate Buy” and a consensus price target of $160.36.

Hess Company Profile

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Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.

Further Reading

Earnings History for Hess (NYSE:HES)

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