Hess (NYSE:HES) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Hess (NYSE:HES) in a report published on Thursday morning. The brokerage issued a hold rating on the oil and gas producer’s stock.

A number of other analysts have also weighed in on HES. Susquehanna raised their price target on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Scotiabank raised their target price on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. BMO Capital Markets increased their price objective on shares of Hess from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $151.00 to $193.00 in a report on Monday. Finally, Citigroup raised their price target on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.50.

Hess Price Performance

Shares of NYSE:HES opened at $141.07 on Thursday. Hess has a one year low of $123.79 and a one year high of $163.98. The stock has a fifty day moving average of $141.65 and a 200-day moving average of $141.56. The company has a market capitalization of $43.47 billion, a PE ratio of 16.44 and a beta of 1.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts anticipate that Hess will post 9.74 EPS for the current fiscal year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Monday, December 16th. Hess’s dividend payout ratio (DPR) is currently 23.31%.

Insider Transactions at Hess

In related news, CEO John B. Hess sold 92,894 shares of Hess stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the completion of the sale, the chief executive officer now owns 229,465 shares of the company’s stock, valued at approximately $33,914,927. The trade was a 28.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Geurt G. Schoonman sold 6,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the transaction, the senior vice president now owns 27,581 shares in the company, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 314,370 shares of company stock valued at $45,856,309 over the last 90 days. 9.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hess

Institutional investors and hedge funds have recently made changes to their positions in the company. Groupama Asset Managment grew its holdings in Hess by 22.7% in the 3rd quarter. Groupama Asset Managment now owns 22,606 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 4,186 shares in the last quarter. Covestor Ltd lifted its position in shares of Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 98 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Hess during the 3rd quarter worth $37,000. Eastern Bank bought a new position in shares of Hess in the third quarter worth $48,000. Finally, LRI Investments LLC lifted its position in Hess by 157.2% during the third quarter. LRI Investments LLC now owns 355 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 217 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.