Hess Corp. (HES) Plans Quarterly Dividend of $0.25
Hess Corp. (NYSE:HES) declared a quarterly dividend on Wednesday, December 5th, RTT News reports. Shareholders of record on Monday, December 17th will be paid a dividend of 0.25 per share by the oil and gas producer on Monday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%.
Hess has a dividend 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. Equities research 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 HES opened at $54.92 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.30 and a debt-to-equity ratio of 0.60. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of -11.91, a price-to-earnings-growth ratio of 549.20 and a beta of 1.55. Hess has a 12-month low of $40.37 and a 12-month high of $74.81.
In other news, insider Michael R. Turner sold 4,142 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $56.82, for a total value of $235,348.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.09% of the company’s stock.
A number of brokerages have issued reports on HES. Sanford C. Bernstein began coverage on shares of Hess in a research report on Thursday, September 27th. They set an “outperform” rating and a $89.00 target price for the company. Piper Jaffray Companies cut shares of Hess from an “overweight” rating to a “neutral” rating in a research report on Thursday, September 27th. Bank of America restated a “buy” rating and set a $86.00 target price (up previously from $83.00) on shares of Hess in a research report on Monday, September 17th. Morgan Stanley restated a “buy” rating and set a $87.00 target price (up previously from $84.00) on shares of Hess in a research report on Tuesday, September 18th. Finally, Credit Suisse Group set a $61.00 target price on shares of Hess and gave the stock a “hold” rating in a research report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $68.00.
Hess Company Profile
Hess Corporation, an exploration and production company, 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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