Hess (NYSE:HES) Earns Hold Rating from Analysts at StockNews.com

by · The Cerbat Gem

StockNews.com began coverage on shares of Hess (NYSE:HES – Free Report) in a research report released on Sunday 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. Scotiabank boosted their price objective on Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a research note on Thursday, October 10th. Wells Fargo & Company upgraded Hess from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $151.00 to $193.00 in a research report on Monday, December 9th. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a report on Monday, September 30th. Susquehanna boosted their price objective on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. 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 research note on Friday, October 4th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Hess currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.50.

Read Our Latest Stock Report on Hess

Hess Price Performance

Shares of NYSE:HES opened at $138.62 on Friday. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $163.98. The company’s 50-day moving average is $139.65 and its 200 day moving average is $139.62. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.13 and a current ratio of 1.26. The company has a market capitalization of $42.71 billion, a P/E ratio of 16.16 and a beta of 1.18.

Hess (NYSE:HES – Get Free Report) last released its earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. On average, equities research analysts forecast that Hess will post 9.74 earnings per share for the current year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 1.44%. Hess’s dividend payout ratio is currently 23.31%.

Insider Activity at Hess

In related news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the sale, the senior vice president now owns 27,581 shares in the company, valued at $3,914,019.71. The trade was a 17.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John B. Hess sold 90,476 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $142.47, for a total transaction of $12,890,115.72. Following the completion of the transaction, the chief executive officer now owns 223,147 shares of the company’s stock, valued at $31,791,753.09. This trade represents a 28.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 314,370 shares of company stock worth $45,856,309 in the last ninety days. 9.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hess

Several hedge funds and other institutional investors have recently modified their holdings of HES. Versant Capital Management Inc grew its holdings in shares of Hess by 64.0% during the 4th quarter. Versant Capital Management Inc now owns 774 shares of the oil and gas producer’s stock worth $103,000 after acquiring an additional 302 shares during the period. Confluence Investment Management LLC raised its holdings in Hess by 6.6% in the fourth quarter. Confluence Investment Management LLC now owns 4,117 shares of the oil and gas producer’s stock worth $548,000 after purchasing an additional 255 shares in the last quarter. Principal Financial Group Inc. lifted its position in Hess by 3.4% during the third quarter. Principal Financial Group Inc. now owns 326,921 shares of the oil and gas producer’s stock valued at $44,396,000 after buying an additional 10,738 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Hess by 330.3% during the 3rd quarter. Retirement Systems of Alabama now owns 262,316 shares of the oil and gas producer’s stock valued at $35,623,000 after buying an additional 201,349 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Hess in the 3rd quarter worth about $23,765,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.

Hess Company Profile

(Get Free Report)

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.

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