Hess (NYSE:HES) Posts Quarterly Earnings Results, Beats Expectations By $1.43 EPS

Hess (NYSE:HES - Get Free Report) released its earnings results on Thursday. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $1.43, Briefing.com reports. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $2.98 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The business's revenue was up 36.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS.

Hess Price Performance

HES traded up $1.08 during midday trading on Friday, reaching $162.53. 1,932,943 shares of the company's stock were exchanged, compared to its average volume of 2,566,094. Hess has a one year low of $124.27 and a one year high of $167.75. The firm has a market capitalization of $50.08 billion, a price-to-earnings ratio of 36.12 and a beta of 1.27. The business has a 50-day simple moving average of $151.37 and a two-hundred day simple moving average of $147.26. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88.

Hess Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, March 15th. Hess's dividend payout ratio (DPR) is presently 38.89%.

Insider Transactions at Hess

In other Hess news, EVP Timothy B. Goodell sold 2,701 shares of Hess stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $390,348.52. Following the completion of the transaction, the executive vice president now directly owns 162,144 shares of the company's stock, valued at $23,433,050.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO John P. Rielly sold 2,596 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $375,173.92. Following the transaction, the chief financial officer now directly owns 335,200 shares of the company's stock, valued at approximately $48,443,104. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total value of $390,348.52. Following the sale, the executive vice president now owns 162,144 shares in the company, valued at $23,433,050.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,798 shares of company stock valued at $22,811,166. Corporate insiders own 9.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Mizuho lifted their price target on Hess from $200.00 to $205.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 20th. StockNews.com began coverage on shares of Hess in a research report on Thursday. They set a "sell" rating on the stock. Susquehanna increased their price target on shares of Hess from $156.00 to $164.00 and gave the company a "neutral" rating in a report on Monday. Finally, Piper Sandler boosted their price objective on shares of Hess from $172.00 to $173.00 and gave the stock an "overweight" rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $177.42.

About Hess

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.