Hess (HES) Declares $0.44 Dividend
Hess said on May 17, 2023 that its board of directors declared a regular quarterly dividend of $0.44 per share ($1.75 annualized). Previously, the company paid $0.44 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on June 30, 2023.
At the current share price of $132.19 / share, the stock's dividend yield is 1.32%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.58%, the lowest has been 0.89%, and the highest has been 3.46%. The standard deviation of yields is 0.45 (n=236).
The current dividend yield is 0.58 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.75%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1625 funds or institutions reporting positions in Hess. This is an increase of 38 owner(s) or 2.39% in the last quarter. Average portfolio weight of all funds dedicated to HES is 0.42%, a decrease of 3.74%. Total shares owned by institutions decreased in the last three months by 2.53% to 294,534K shares. 
The put/call ratio of HES is 1.41, indicating a bearish outlook.
Analyst Price Forecast Suggests 25.22% Upside
As of May 11, 2023, the average one-year price target for Hess is 165.53. The forecasts range from a low of 143.42 to a high of $210.00. The average price target represents an increase of 25.22% from its latest reported closing price of 132.19.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Hess is 11,461MM, an increase of 1.18%. The projected annual non-GAAP EPS is 9.61.
What are Other Shareholders Doing?
Capital World Investors holds 9,760K shares representing 3.19% ownership of the company. In it's prior filing, the firm reported owning 9,738K shares, representing an increase of 0.22%. The firm decreased its portfolio allocation in HES by 9.31% over the last quarter.
Price T Rowe Associates holds 8,573K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 9,481K shares, representing a decrease of 10.59%. The firm decreased its portfolio allocation in HES by 21.48% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,434K shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 8,312K shares, representing an increase of 1.44%. The firm increased its portfolio allocation in HES by 21.92% over the last quarter.
Massachusetts Financial Services holds 8,375K shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 7,998K shares, representing an increase of 4.50%. The firm decreased its portfolio allocation in HES by 85.31% over the last quarter.
Primecap Management holds 8,180K shares representing 2.68% ownership of the company. In it's prior filing, the firm reported owning 8,427K shares, representing a decrease of 3.02%. The firm decreased its portfolio allocation in HES by 13.72% over the last quarter.
Hess Background Information
(This description is provided by the company.)
Hess Corporation is an American global independent energy company involved in the exploration and production of crude oil and natural gas. he company is also involved in gathering, compressing, and processing natural gas.
Key filings for this company:
This story originally appeared on Fintel.