Hess (NYSE:HES) Coverage Initiated by Analysts at StockNews.com

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

A number of other analysts have also issued reports on HES. UBS Group boosted their price target on Hess from $173.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Citigroup upped their target price on Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Pickering Energy Partners upgraded Hess to a “hold” rating in a research note on Friday, January 3rd. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Monday, September 30th. Finally, BMO Capital Markets increased their target price on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Hess currently has a consensus rating of “Moderate Buy” and an average price target of $170.50.

Hess Price Performance

HES opened at $144.80 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. The business has a fifty day moving average of $141.05 and a 200 day moving average of $139.51. Hess has a 52-week low of $123.79 and a 52-week high of $163.98. The stock has a market cap of $44.62 billion, a P/E ratio of 16.88 and a beta of 1.18.

Hess (NYSE:HES) last posted its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. As a group, sell-side analysts anticipate that Hess will post 9.49 EPS for the current year.

Hess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 1.38%. Hess’s dividend payout ratio is presently 23.31%.

Insider Buying and Selling at Hess

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $141.91, for a total value of $851,460.00. Following the sale, the senior vice president now directly owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 17.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John B. Hess sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total value of $18,385,000.00. Following the transaction, the chief executive officer now directly owns 217,894 shares of the company’s stock, valued at approximately $32,047,849.52. The trade was a 36.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,370 shares of company stock valued at $45,856,309. Corporate insiders own 9.76% of the company’s stock.

Institutional Trading of Hess

Several institutional investors have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC increased its stake in Hess by 2.4% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock worth $444,000 after buying an additional 78 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its position in shares of Hess by 5.3% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after purchasing an additional 85 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in Hess by 6.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,577 shares of the oil and gas producer’s stock valued at $214,000 after purchasing an additional 97 shares during the last quarter. Covestor Ltd lifted its holdings in Hess by 59.8% in the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 98 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in Hess by 6.3% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,673 shares of the oil and gas producer’s stock worth $231,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 88.51% of the company’s stock.

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.