Hess (NYSE:HES) Lifted to “Outperform” at Wolfe Research

Wolfe Research upgraded shares of Hess (NYSE:HES) from a peer perform rating to an outperform rating in a research report report published on Monday morning, Marketbeat Ratings reports. The firm currently has $150.00 price objective on the oil and gas producer’s stock.

Several other equities analysts also recently weighed in on HES. Citigroup decreased their price target on Hess from $160.00 to $145.00 and set a neutral rating on the stock in a report on Thursday, September 5th. Piper Sandler cut their price objective on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Susquehanna decreased their target price on Hess from $151.00 to $149.00 and set a neutral rating on the stock in a research report on Wednesday, September 4th. BMO Capital Markets downgraded Hess to an overweight rating and reduced their price objective for the stock from $175.00 to $160.00 in a research note on Monday, August 19th. Finally, StockNews.com began coverage on Hess in a research report on Friday, June 28th. They set a hold rating for the company. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $165.15.

Hess Trading Up 0.9 %

Shares of HES stock opened at $140.28 on Monday. The stock has a market capitalization of $43.22 billion, a PE ratio of 21.48 and a beta of 1.15. Hess has a 1-year low of $123.79 and a 1-year high of $167.75. The business has a 50-day moving average of $135.66 and a 200 day moving average of $146.35. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14.

Hess (NYSE:HES) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The business’s revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hess will post 10.46 earnings per share for the current year.

Hess Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a yield of 1.43%. Hess’s dividend payout ratio (DPR) is 30.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HES. New Covenant Trust Company N.A. purchased a new position in shares of Hess during the 1st quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in Hess during the 1st quarter worth $27,000. Riverview Trust Co acquired a new position in shares of Hess during the 1st quarter valued at about $36,000. EverSource Wealth Advisors LLC raised its stake in shares of Hess by 47.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after acquiring an additional 88 shares during the period. Finally, Mather Group LLC. purchased a new stake in Hess during the first quarter worth about $52,000. 88.51% of the stock is owned by institutional investors and hedge funds.

Hess Company Profile

Hess Corporation, an exploration and production company, explores, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. The company operates in two segments, Exploration and Production, and Midstream. It conducts production operations primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities principally offshore Guyana, the U.S.