Hess Corp. (NYSE:HES) announced a quarterly dividend on Wednesday, September 4th, RTT News reports. Investors of record on Monday, September 16th will be given a dividend of 0.25 per share by the oil and gas producer on Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Friday, September 13th.
Hess has a payout ratio of -138.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Hess to earn $1.02 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 98.0%.
Shares of Hess stock opened at $63.40 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $61.56 and a two-hundred day moving average price of $61.17. Hess has a 1-year low of $35.59 and a 1-year high of $74.81. The company has a market cap of $19.51 billion, a P/E ratio of -85.67 and a beta of 1.98.
Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. Hess had a return on equity of 0.46% and a net margin of 1.09%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted ($0.23) EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Hess will post -0.4 EPS for the current fiscal year.
In other news, insider Barbara J. Lowery-Yilmaz sold 7,305 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $57.18, for a total value of $417,699.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael R. Turner sold 30,345 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $65.17, for a total value of $1,977,583.65. Following the completion of the sale, the insider now owns 94,537 shares of the company’s stock, valued at $6,160,976.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 207,961 shares of company stock valued at $13,444,235. 12.22% of the stock is currently owned by company insiders.
A number of analysts have weighed in on the company. Barclays assumed coverage on Hess in a report on Monday, August 19th. They set an “overweight” rating and a $93.00 price target for the company. MKM Partners upgraded Hess from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Tuesday, May 28th. Morgan Stanley set a $69.00 price target on Hess and gave the stock a “buy” rating in a report on Monday, June 24th. Wells Fargo & Co reiterated a “buy” rating on shares of Hess in a report on Wednesday, July 31st. Finally, Piper Jaffray Companies set a $61.00 price target on Hess and gave the stock a “hold” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $70.08.
Hess Company Profile
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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