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Market Update (NYSE:HES): Hess Announces Regular Quarterly Dividend On Common Stock

[Business Wire] – The Board of Directors of Hess Corporation today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on March 31, 2016 to holders of record at the close of business on March 17, 2016. Read more on this. Hess Corporation (HES) , with a current market cap of $14.77B, opened at $44.09. Looking at the equity, the company’s one day range is $43.86 to $46.94 with a trailing 52-week range being $32.41 to $79.00. HES shares are currently priced at -7.57x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s -2.94x earnings multiple. And for dividend hunters, the company pays shareholders $1.00 per share annually in dividends, yielding 2.32%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $-1.83 per share, which would be $0.00 better than the year-ago quarter and a $0.00 sequential increase. The full-year EPS estimate is $-5.85 which would be a $1.92 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.14 Billion. If realized, that would be a 26.45% decrease over the year-ago quarter. More recently, Goldman upgraded HES from Neutral to Buy (Feb 10, 2016). Previously, Citigroup downgraded HES from Buy to Neutral. Investors should keep in mind is that the average price target is $55.26, which is 25.33% above where the stock opened this morning. See more in (NYSE:HES) Similar Articles: Company Update (NYSE:HES): Hess Corporation Announces Concurrent Offerings of Common Stock and Depositary Shares Representing an Interest in Mandatory Convertible Preferred Stock Market Update: Hess Corporation (NYSE:HES) – Hess Reports Estimated Results for the Fourth Quarter of 2015 Stock Update: Hess Corporation (NYSE:HES) – Hess Schedules Earnings Release Conference Call
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