Yahoo Finance Hess (HES) Rewards Investors With Quarterly Dividend Hike
Hess Corporation's HES board of directors announced a regular quarterly dividend of 43.75 cents per share, payable to holders of record at the close of business on Mar 13, 2023.
The figure reflects a roughly 17% increase over fourth-quarter 2022 dividend. This mirrors Hess’ strong commitment to returning capital back to its shareholders. In fact, the leading upstream energy player has a plan of returning up to 75% of its annual free cash flow through dividend hike and share repurchases in the near future.
Hess anticipates operating cash flow to expand at a compound annual growth rate of around 25%, through 2027. This increases the probability of future dividend hikes, thereby illustrating Hess's robust and stable business growth.
Zacks Rank & Key Picks
Hess currently carries a Zack Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks for investors interested in the energy space include Murphy USA Inc. MUSA and CVR Energy CVI both sporting a Zacks Rank #1 and PBF Energy PBF carrying a Zacks Rank #2 (Buy).
Murphy USA operates stations close to Walmart supercenters and sells low-cost, high-volume fuel. This helps the company to get a lot more business than its competitors. Another significant competitive advantage for the firm is its access to product distribution centers and pipelines, which helps control costs in the intensely competitive retail sector. Over the past 30 days, MUSA has witnessed upward earnings estimate revisions for 2023 and 2024.
CVR Energy, a diversified holding company with its main office in Sugar Land, TX, is an independent refiner and marketer of high value transportation fuels. Over the past seven days, CVI has seen an upward revision in earnings estimates for 2023 and 2024.
PBF Energy is a leading crude oil refiner and offers end products that include heating oil, transportation fuels, lubricants, and many other related items through five oil refineries and accompanying infrastructure throughout the United States. Over the past 30 days, PBF has seen an upward revision in earnings estimates for 2024.
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Hess Corporation (HES) : Free Stock Analysis Report
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