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Market Update: Hess Corporation (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 June 30, 2016 to holders of record at the close of business on June 16, 2016. Read more on this. Hess Corporation (HES) , valued at $18.49B, started trading this morning at $58.80. Looking at the equity, the company’s one day range is $57.67 to $59.10 and has traded between $32.41 and $70.67 over the past 12 months. Hess (HES) shares are currently priced at -11.20x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s -9.89x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.00 per share annually in dividends, yielding 1.66%. According to a consensus of 19 analysts, the earnings estimate of $-1.33 per share would be $0.00 better than the year-ago quarter and a $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $-5.35, which would be a $1.42 setback when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.07 Billion. If realized, that would be a 44.85% decrease over the year-ago quarter. In terms of ratings, UBS downgraded HES from Buy to Neutral (Apr 28, 2016). Previously, Credit Suisse downgraded HES from Outperform to Neutral. Investors should keep in mind is that the average price target is $63.13, which is 7.36% above where the stock opened this morning. See more in (NYSE:HES) Similar Articles: Market Update (NYSE:HES): Hess Announces Regular Quarterly Dividend On Common Stock 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
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