Hess Corporation (NYSE:HES) announced a quarterly dividend on Wednesday, December 6th, RTT News reports. Stockholders of record on Monday, December 18th will be paid a dividend of 0.25 per share by the oil and gas producer on Friday, December 29th. This represents a $1.00 annualized dividend and a dividend yield of 2.16%.

Hess has raised its dividend payment by an average of 12.6% annually over the last three years. Hess has a payout ratio of -21.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Hess to earn ($3.45) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -29.0%.

Shares of Hess (NYSE HES) traded down $0.28 during midday trading on Wednesday, hitting $46.29. The stock had a trading volume of 2,276,900 shares, compared to its average volume of 4,149,555. The company has a current ratio of 1.84, a quick ratio of 1.68 and a debt-to-equity ratio of 0.46. Hess has a 1-year low of $37.25 and a 1-year high of $65.56.

Hess (NYSE:HES) last issued its earnings results on Wednesday, October 25th. The oil and gas producer reported ($1.07) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.22. Hess had a negative return on equity of 9.30% and a negative net margin of 113.21%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the company earned ($1.12) EPS. The business’s quarterly revenue was up 39.3% on a year-over-year basis. equities analysts forecast that Hess will post -4.59 EPS for the current year.

HES has been the topic of several research analyst reports. Morgan Stanley raised their target price on Hess from $43.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised Hess from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, October 11th. Scotiabank set a $52.00 target price on Hess and gave the stock a “buy” rating in a research report on Friday, August 11th. J P Morgan Chase & Co lowered Hess from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $52.00 to $45.00 in a research report on Thursday, September 14th. Finally, BMO Capital Markets restated a “hold” rating and set a $42.00 price target on shares of Hess in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Hess presently has an average rating of “Hold” and a consensus target price of $51.79.

In related news, insider Brian D. Truelove sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $42.53, for a total transaction of $255,180.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 11.80% of the company’s stock.

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Hess Company Profile

Hess Corporation is an exploration and production company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids (NGL) and natural gas. The Company’s segments include Exploration and Production, and Bakken Midstream. Its Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, NGLs and natural gas with production operations primarily in the United States, Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area (JDA), Malaysia and Norway.

Dividend History for Hess (NYSE:HES)

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