Hess (NYSE:HES) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a research report sent to investors on Friday morning. The firm issued a hold rating on the oil and gas producer’s stock.

HES has been the topic of several other research reports. Mizuho lowered their target price on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Susquehanna upped their target price on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Citigroup dropped their price target on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. BMO Capital Markets upped their price objective on Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Piper Sandler reduced their target price on shares of Hess from $173.00 to $167.00 in a report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Hess Stock Down 0.3 %

Shares of NYSE:HES opened at $138.02 on Friday. The company has a market cap of $42.53 billion, a price-to-earnings ratio of 21.14 and a beta of 1.15. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The firm’s 50-day simple moving average is $135.42 and its 200-day simple moving average is $144.88. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. As a group, equities research analysts predict that Hess will post 10.22 earnings per share for the current year.

Hess Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 1.45%. This is a boost from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio is presently 30.63%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HES. Manchester Capital Management LLC boosted its holdings in Hess by 1.4% in the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock worth $779,000 after purchasing an additional 68 shares during the period. Drive Wealth Management LLC grew its position in shares of Hess by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 4,599 shares of the oil and gas producer’s stock valued at $678,000 after buying an additional 72 shares during the last quarter. Quent Capital LLC lifted its holdings in Hess by 7.3% in the second quarter. Quent Capital LLC now owns 1,074 shares of the oil and gas producer’s stock worth $158,000 after acquiring an additional 73 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Hess by 16.9% in the 2nd quarter. Versant Capital Management Inc now owns 540 shares of the oil and gas producer’s stock worth $80,000 after purchasing an additional 78 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of Hess by 10.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 855 shares of the oil and gas producer’s stock valued at $131,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

About Hess

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.