On Wednesday morning, Hess Corp (HES) reported its second quarter earnings, posting a substantial gain in net income from last year’s Q2, while easily beating analysts’ EPS estimates.
The New York-based oil and gas company posted a net income increase to $1.43 billion from $549 million in last year’s same time period. For adjusted earnings, which do not include the gains from Hess’s sale of its Russian subsidiary, figures came in at $520 million, or $1.51 per share.
The company posted revenue for the quarter at $4.105 billion, which was up from 2012′s Q2 figure of $3.321 billion. Analysts were expecting EPS at $1.41 on revenue of $4.6 billion.
Hess shares were up $1.90, or 2.6%, in Wednesday morning trading. The company’s shares are up more than 36% YTD.
The Bottom Line
Shares of Hess Corp (HES) have a yield of 0.50% based on Tuesday’s closing price of $73.19 and the company’s annualized dividend payout of 40 cents.
Hess Corp (HES) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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