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

Hess (NYSE:HESGet Rating) announced its quarterly earnings data on Wednesday. The oil and gas producer reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.18, MarketWatch Earnings reports. Hess had a net margin of 7.37% and a return on equity of 10.23%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The firm’s revenue was up 23.6% on a year-over-year basis.

Shares of NYSE HES traded down $2.62 during trading on Thursday, reaching $100.13. 14,387 shares of the company traded hands, compared to its average volume of 2,909,232. The firm has a 50 day simple moving average of $103.62 and a 200-day simple moving average of $90.94. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $31.17 billion, a PE ratio of 55.63 and a beta of 1.76. Hess has a 52-week low of $61.93 and a 52-week high of $117.06.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Monday, March 14th were paid a dividend of $0.375 per share. This is a positive change from Hess’s previous quarterly dividend of $0.25. This represents a $1.50 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Friday, March 11th. Hess’s dividend payout ratio (DPR) is currently 83.33%.

In other news, SVP Barbara J. Lowery-Yilmaz sold 7,405 shares of the firm’s stock in a transaction dated Thursday, February 3rd. The shares were sold at an average price of $91.00, for a total transaction of $673,855.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy B. Goodell sold 65,867 shares of the firm’s stock in a transaction dated Thursday, February 3rd. The shares were sold at an average price of $91.44, for a total transaction of $6,022,878.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,002,198 shares of company stock worth $96,261,545. Insiders own 12.22% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Forum Financial Management LP purchased a new position in shares of Hess in the fourth quarter worth approximately $208,000. Synovus Financial Corp raised its position in shares of Hess by 25.3% during the fourth quarter. Synovus Financial Corp now owns 3,256 shares of the oil and gas producer’s stock valued at $241,000 after buying an additional 658 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Hess by 48.4% during the fourth quarter. Advisors Asset Management Inc. now owns 3,883 shares of the oil and gas producer’s stock valued at $287,000 after buying an additional 1,267 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Hess by 17.5% during the fourth quarter. Peapack Gladstone Financial Corp now owns 4,330 shares of the oil and gas producer’s stock valued at $321,000 after buying an additional 646 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Hess during the fourth quarter valued at approximately $370,000. 83.64% of the stock is currently owned by institutional investors.

HES has been the subject of a number of research reports. TheStreet raised shares of Hess from a “c+” rating to a “b” rating in a research note on Monday, January 31st. Zacks Investment Research raised shares of Hess from a “hold” rating to a “strong-buy” rating and set a $130.00 target price for the company in a research report on Monday, April 11th. Raymond James increased their price target on shares of Hess from $112.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday. Susquehanna increased their price target on shares of Hess from $118.00 to $138.00 and gave the stock a “positive” rating in a research note on Monday. Finally, Wells Fargo & Company increased their price target on shares of Hess from $106.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, March 11th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Hess presently has a consensus rating of “Buy” and a consensus price target of $119.87.

About Hess (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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