HESS CORP

10-K & 10-Q Filings

Hess Corporation is a global energy company incorporated in Delaware in 1920. Its business includes exploration, development, production, transportation, purchase, and sale of crude oil, natural gas liquids, and natural gas. The company's strategy is to deliver value to its shareholders through a portfolio of high-quality, long-lived assets. Hess operates in the United States, Guyana, Malaysia, and Thailand. Its significant E&P assets include the Bakken shale play in North Dakota, offshore properties in the Gulf of Mexico, the Stabroek Block offshore Guyana, and various projects in Malaysia and Thailand. Hess also has a midstream segment, Hess Midstream LP, which provides fee-based services, including gathering, compressing and processing natural gas and fractionating NGL; gathering, terminaling, loading and transporting crude oil and NGL; storing and terminaling propane, and water handling services primarily in the Bakken shale play. The company's website is <https://www.hess.com>, and its ticker symbol is HES. At December 31, 2023, Hess had proved reserves of 1,492 million boe, with 41% of those reserves being proved undeveloped. Worldwide crude oil, NGL, and natural gas net production was 81,941 boe/d in 2023.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 2023CAGR %YoY %Revenue (+)
$37871.00
38373.00
24421.00
11439.00
6561.00
4844.00
5405.00
6466.00
6510.00
4804.00
7583.00
11570.00
10645.00
-10.04%-7.99%Cost of Revenue (-)
$2523.00
2918.00
1294.00
1063.00
1267.00
Gross Profit (+)
$35348.00
35455.00
5267.00
3781.00
4138.00
Selling, General & Administrative (-)
$702.00
707.00
1081.00
863.00
703.00
516.00
553.00
644.00
581.00
481.00
512.00
786.00
743.00
0.47%-5.47%Depreciation & Amortization (-)
$2406.00
2949.00
2770.00
3224.00
3955.00
3244.00
2883.00
1883.00
2122.00
2074.00
1528.00
1703.00
2046.00
-1.34%20.14%Non-recurring Operating Expenses (-)
$358.00
598.00
289.00
1616.00
67.00
4203.00
Operating Expenses (-)
$4215.00
4740.00
7287.00
6854.00
9525.00
7635.00
9916.00
4023.00
4173.00
4124.00
3431.00
4149.00
4882.00
1.23%17.67%Costs & Expenses (Total) (-)
$35410.00
34635.00
19928.00
9003.00
10819.00
8698.00
11183.00
6246.00
6289.00
7654.00
6093.00
8024.00
8174.00
-11.50%1.87%Operating Income/Loss (+)
$2461.00
3738.00
4493.00
2436.00
-4258.00
-3854.00
-5778.00
220.00
221.00
-2850.00
1490.00
3546.00
2471.00
0.03%-30.32%Non-operating Income/Expense (+)
$-1041.00
98.00
-37.00
-121.00
-126.00
-89.00
25.00
58.00
-7.00
50.00
81.00
145.00
132.00
-8.97%Interest Expense (-)
$383.00
419.00
406.00
341.00
338.00
325.00
399.00
380.00
468.00
481.00
493.00
478.00
1.86%-3.04%Earnings before Tax (+)
$2461.00
3738.00
4493.00
2436.00
-4258.00
-3854.00
-5778.00
220.00
221.00
-2850.00
1490.00
3546.00
2471.00
0.03%-30.32%Tax Expense (-)
$785.00
1675.00
525.00
744.00
-1299.00
2222.00
-1837.00
335.00
461.00
-11.00
600.00
1099.00
733.00
-0.57%-33.30%Income/Loss (Continuing Operations) (+)
$1676.00
2063.00
3968.00
1692.00
-2959.00
-6076.00
-3941.00
-115.00
-240.00
-2839.00
890.00
2447.00
1738.00
0.30%-28.97%Income/Loss (Discontinued Operations) (+)
$
1254.00
682.00
-48.00
Profit/Loss (+)
$1676.00
2063.00
5222.00
2374.00
-3007.00
-6076.00
-3941.00
-115.00
-240.00
-2839.00
890.00
2447.00
1738.00
0.30%-28.97%Net Income/Loss (NCI) (-)
$-27.00
38.00
170.00
57.00
49.00
56.00
133.00
167.00
168.00
Net Income/Loss (+)
$1703.00
2025.00
5052.00
2317.00
-3056.00
-6132.00
-4074.00
-282.00
-408.00
-3093.00
559.00
2096.00
1382.00
-1.73%-34.06%Preferred & Other Distributions (-)
$
41.00
46.00
46.00
4.00
Net Income/Loss (Common) (+)
$1703.00
2025.00
5052.00
2317.00
-3056.00
-6173.00
-4120.00
-328.00
-412.00
-3093.00
559.00
2096.00
1382.00
-1.73%-34.06%EPS (Basic)
$5.05
5.98
15.01
7.63
-10.78
-19.92
-13.12
-1.10
-1.37
-10.15
1.82
6.80
4.52
-0.92%-33.53%EPS (Diluted)
$5.01
5.95
14.82
7.53
-10.78
-19.92
-13.12
-1.10
-1.37
-10.15
1.81
6.77
4.49
-0.91%-33.68%Weighted Avg Shares (Basic)
339.98
341.53
325.31
285.83
315.24
316.52
315.05
303.03
305.21
306.99
307.40
308.10
305.90
-0.88%-0.71%Weighted Avg Shares (Diluted)
339.90
340.30
340.90
307.70
283.60
309.90
314.10
298.20
301.20
304.80
309.30
309.60
307.60
-0.83%-0.65%Cash
$351.00
642.00
1814.00
2444.00
2716.00
2732.00
4847.00
2694.00
1545.00
1739.00
2713.00
2486.00
1688.00
13.98%-32.10%Receivables
$5011.00
4338.00
3525.00
2073.00
1159.00
1026.00
1024.00
230.00
230.00
150.00
149.00
121.00
150.00
-25.35%23.97%Inventory
$1423.00
1259.00
954.00
527.00
399.00
323.00
232.00
1016.00
1201.00
1088.00
1285.00
1258.00
1484.00
0.35%17.97%Other Assets (Current)
$1554.00
2148.00
2306.00
1643.00
130.00
195.00
54.00
519.00
180.00
104.00
199.00
66.00
108.00
-19.92%63.64%Assets (Current)
$8339.00
8387.00
8599.00
6687.00
4404.00
4276.00
6157.00
4459.00
3156.00
3081.00
4346.00
3931.00
3430.00
-7.14%-12.74%Securities & Long-term Investments
$384.00
443.00
687.00
Property, Plant & Equipment (Net)
$24712.00
28807.00
28771.00
27517.00
26352.00
23595.00
16192.00
16083.00
16814.00
14115.00
14182.00
15098.00
17432.00
-2.87%15.46%Accumulated Depreciation
$14998.00
16746.00
17179.00
19005.00
20474.00
23312.00
16312.00
17139.00
19006.00
16404.00
16996.00
17494.00
19339.00
2.14%10.55%Goodwill & Intangibles
$2305.00
2208.00
1869.00
1858.00
375.00
375.00
360.00
360.00
360.00
360.00
360.00
360.00
360.00
-14.34%0.00%Other Assets
$3396.00
3596.00
2828.00
2516.00
3064.00
375.00
403.00
531.00
706.00
671.00
1131.00
1610.00
1957.00
-4.49%21.55%Assets (Non-current)
$30797.00
35054.00
34155.00
31891.00
29791.00
24345.00
16955.00
16974.00
18626.00
15740.00
16169.00
17764.00
20577.00
-3.30%15.84%Assets (Total)
$39136.00
43441.00
42754.00
38578.00
34195.00
28621.00
23112.00
21433.00
21782.00
18821.00
20515.00
21695.00
24007.00
-3.99%10.66%Accounts Payable
$8048.00
7595.00
5894.00
4783.00
2542.00
2139.00
1855.00
2136.00
2311.00
1532.00
2458.00
2172.00
2589.00
-9.02%19.20%Debt (Current)
$52.00
787.00
378.00
68.00
86.00
112.00
580.00
67.00
10.00
517.00
3.00
311.00
16.07%10266.67%Other Liabilities (Current)
$
286.00
199.00
81.00
89.00
221.00
370.00
67.42%Liabilities (Current)
$8100.00
8382.00
6558.00
4851.00
2628.00
2251.00
2435.00
2203.00
2510.00
1623.00
3064.00
2396.00
3270.00
-7.28%36.48%Debt (Non-current)
$6005.00
7324.00
5420.00
5919.00
6544.00
6694.00
6397.00
6605.00
7733.00
8506.00
8141.00
8457.00
8458.00
2.90%0.01%Other Liabilities
$6439.00
6532.00
5992.00
5488.00
4622.00
4085.00
1926.00
1737.00
1833.00
2357.00
2284.00
2346.00
2677.00
-7.05%14.11%Liabilities (Non-current)
$12444.00
13856.00
11412.00
11407.00
11166.00
10779.00
8323.00
8342.00
9566.00
10863.00
10425.00
10803.00
11135.00
-0.92%3.07%Liabilities (Total)
$20544.00
22238.00
17970.00
16258.00
13794.00
13030.00
10758.00
10545.00
12076.00
12486.00
13489.00
13199.00
14405.00
-2.91%9.14%Retained Earnings
$15826.00
17717.00
21235.00
20052.00
16637.00
10147.00
5597.00
4257.00
3535.00
130.00
379.00
1474.00
2318.00
-14.79%57.26%AOCI
$-1067.00
-493.00
-338.00
-1410.00
-1664.00
-1704.00
-686.00
-306.00
-699.00
-755.00
-406.00
-131.00
-134.00
-2.29%Shareholder's Equity
$18592.00
21203.00
24784.00
22320.00
20401.00
15591.00
12354.00
10888.00
9706.00
6335.00
7026.00
8496.00
9602.00
-5.36%13.02%Liabilities & Equity
$39136.00
43441.00
42754.00
38578.00
34195.00
28621.00
23112.00
21433.00
21782.00
18821.00
20515.00
21695.00
24007.00
-3.99%10.66%Net Income/Loss
$1676.00
2063.00
5222.00
2374.00
-3007.00
-6076.00
-3941.00
-115.00
-240.00
-2839.00
890.00
2447.00
1738.00
0.30%-28.97%Depreciation & Amortization
$2406.00
2949.00
2770.00
3224.00
3955.00
3244.00
2883.00
1883.00
2122.00
2074.00
1528.00
1703.00
2046.00
-1.34%20.14%Increase/Decrease in Working Capital
$303.00
-394.00
1453.00
531.00
-60.00
47.00
780.00
186.00
595.00
470.00
101.00
1177.00
552.00
5.13%-53.10%Share-based Compensation
$104.00
99.00
60.00
87.00
97.00
73.00
86.00
72.00
85.00
79.00
77.00
83.00
87.00
-1.48%4.82%Adjustments to Reconcile Net Income
$3308.00
3597.00
-379.00
2090.00
4975.00
6871.00
4886.00
2054.00
1882.00
4172.00
2000.00
1497.00
2204.00
-3.33%47.23%Net Cash (Operating)
$4984.00
5660.00
4870.00
4464.00
1981.00
795.00
945.00
1939.00
1642.00
1333.00
2890.00
3944.00
3942.00
-1.94%-0.05%Capital Expenditure
$6516.00
6952.00
1382.00
2296.00
4271.00
2111.00
-1359.00
1557.00
2840.00
1704.00
1320.00
2547.00
4105.00
-3.78%61.17%Net Cash (Investing)
$-6566.00
-7051.00
578.00
1.00
-4206.00
-2090.00
1358.00
-1566.00
-2843.00
-1707.00
-1325.00
-2555.00
-4113.00
-60.98%Increase/Decrease in Debt
$422.00
1845.00
-2484.00
8.00
643.00
84.00
188.00
-633.00
735.00
1145.00
150.00
-185.00
309.00
-2.56%267.03%Increase/Decrease in Equity
$
-1493.00
-3715.00
-142.00
1644.00
256.00
-1365.00
-25.00
77.00
-578.00
-10.00
98.27%Dividends Paid
$136.00
171.00
235.00
303.00
287.00
350.00
363.00
345.00
316.00
309.00
311.00
465.00
539.00
12.16%15.91%Net Cash (Financing)
$325.00
1682.00
-4276.00
-3835.00
2497.00
1311.00
-188.00
-2526.00
52.00
568.00
-591.00
-1616.00
-627.00
61.20%Increase/Decrease in Cash
$-1257.00
291.00
1172.00
630.00
272.00
16.00
2115.00
-2153.00
-1149.00
194.00
974.00
-227.00
-798.00
-251.54%Cash (Beginning)
$1608.00
351.00
642.00
1814.00
2444.00
2716.00
2732.00
4847.00
2694.00
1545.00
1739.00
2713.00
2486.00
3.70%-8.37%Cash (Ending)
$351.00
642.00
1814.00
2444.00
2716.00
2732.00
4847.00
2694.00
1545.00
1739.00
2713.00
2486.00
1688.00
13.98%-32.10%NOPAT
$1676.00
2063.00
5018.00
1692.00
-5557.00
-1632.00
-7615.00
-115.00
-240.00
-2839.00
890.00
2447.00
1738.00
0.30%-28.97%Gross Margin %
93.34%
92.40%
80.28%
78.06%
76.56%
Operating Margin %
6.50%
9.74%
18.40%
21.30%
-64.90%
-79.56%
-106.90%
3.40%
3.39%
-59.33%
19.65%
30.65%
23.21%
NOPAT Margin %
4.43%
5.38%
20.55%
14.79%
-84.70%
-33.69%
-140.89%
-1.78%
-3.69%
-59.10%
11.74%
21.15%
16.33%
Net Margin %
4.50%
5.28%
20.69%
20.26%
-46.58%
-126.59%
-75.37%
-4.36%
-6.27%
-64.38%
7.37%
18.12%
12.98%
Tax Rate %
31.90%
44.81%
-11.68%
30.54%
-30.51%
57.65%
-31.79%
152.27%
208.60%
0.39%
40.27%
30.99%
29.66%
ROA
4.28%
4.75%
11.74%
4.39%
-16.25%
-5.70%
-32.95%
-0.54%
-1.10%
-15.08%
4.34%
11.28%
7.24%
ROE
9.01%
9.73%
20.25%
7.58%
-27.24%
-10.47%
-61.64%
-1.06%
-2.47%
-44.81%
12.67%
28.80%
18.10%
ROIC
6.51%
6.96%
16.24%
5.97%
-21.05%
-6.90%
-46.17%
-0.71%
-1.42%
-19.42%
6.25%
15.57%
9.81%
Asset Turnover
0.97
0.88
0.57
0.30
0.19
0.17
0.23
0.30
0.30
0.26
0.37
0.53
0.44
Inventory Turnover
1.77
2.32
3.24
3.29
5.46
Equity Multiplier
2.10
2.05
1.73
1.73
1.68
1.84
1.87
1.97
2.24
2.97
2.92
2.55
2.50
Current Ratio
1.03
1.00
1.31
1.38
1.68
1.90
2.53
2.02
1.26
1.90
1.42
1.64
1.05
Quick Ratio
0.66
0.59
0.81
0.93
1.47
1.67
2.41
1.33
0.71
1.16
0.93
1.09
0.56
Debt/Equity Ratio
0.33
0.38
0.23
0.27
0.32
0.44
0.56
0.61
0.80
1.34
1.23
1.00
0.91
Working Capital/Sales
-0.03
-0.04
0.01
-0.09
-0.05
-0.06
-0.01
-0.04
-0.05
0.03
-0.04
0.02
-0.01
Dividend Payout Ratio %
8.11%
8.29%
4.68%
17.91%
5.16%
21.45%
4.77%
300.00%
131.67%
10.88%
34.94%
19.00%
31.01%
Total Payout
$-286.00
-1674.00
4212.00
4010.00
-214.00
-1378.00
-81.00
2343.00
-394.00
-836.00
84.00
1228.00
240.00
-80.46%Payout Ratio %
-17.06%
-81.14%
83.94%
237.00%
-3.85%
-84.44%
-1.06%
2037.39%
-164.17%
-29.45%
9.44%
50.18%
13.81%