Hess Co. Announces Quarterly Dividend of $0.38 (NYSE:HES)

Hess Co. (NYSE:HESGet Rating) declared a quarterly dividend on Thursday, May 26th, RTT News reports. Stockholders of record on Wednesday, June 15th will be paid a dividend of 0.375 per share by the oil and gas producer on Thursday, June 30th. This represents a $1.50 annualized dividend and a dividend yield of 1.24%.

Hess has a dividend payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hess to earn $13.44 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 11.2%.

Shares of NYSE:HES traded up $1.40 during trading on Thursday, reaching $120.67. 51,777 shares of the stock were exchanged, compared to its average volume of 2,787,734. The company has a current ratio of 1.42, a quick ratio of 1.35 and a debt-to-equity ratio of 1.15. The firm has a market cap of $37.56 billion, a PE ratio of 52.01 and a beta of 1.67. The stock has a 50-day moving average price of $109.50 and a 200-day moving average price of $94.38. Hess has a 12 month low of $61.93 and a 12 month high of $119.69.

Hess (NYSE:HESGet Rating) last posted its earnings results on Wednesday, April 27th. The oil and gas producer reported $1.30 EPS for the quarter, beating the consensus estimate of $1.12 by $0.18. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.05 billion. Hess had a return on equity of 12.35% and a net margin of 9.01%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the company earned $0.82 earnings per share. On average, sell-side analysts expect that Hess will post 9.61 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Hess from a “hold” rating to a “strong-buy” rating and set a $130.00 price target for the company in a research note on Monday, April 11th. Morgan Stanley raised their price objective on Hess from $121.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, April 22nd. Barclays lifted their target price on Hess from $124.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. Mizuho boosted their price objective on Hess from $132.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, March 31st. Finally, Susquehanna Bancshares boosted their price objective on Hess from $118.00 to $138.00 and gave the company a “positive” rating in a report on Monday, April 25th. Three investment 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, the company has an average rating of “Buy” and a consensus price target of $119.87.

In other news, CEO John B. Hess sold 150,000 shares of the stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $100.22, for a total value of $15,033,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Gregory P. Hill sold 13,771 shares of the stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $106.23, for a total transaction of $1,462,893.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 609,652 shares of company stock valued at $60,473,245. 9.93% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Horizon Investments LLC purchased a new stake in Hess in the first quarter valued at approximately $317,000. Sawtooth Solutions LLC bought a new position in Hess during the first quarter valued at approximately $289,000. Advisors Asset Management Inc. grew its position in 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 acquiring an additional 1,267 shares during the last quarter. Vident Investment Advisory LLC bought a new position in Hess during the first quarter valued at approximately $271,000. Finally, EP Wealth Advisors LLC bought a new position in Hess during the first quarter valued at approximately $262,000. 82.51% of the stock is currently 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.

See Also

Dividend History for Hess (NYSE:HES)

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