StockNews.com Begins Coverage on Hess (NYSE:HES)

StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a research report report published on Wednesday morning. The firm issued a sell rating on the oil and gas producer’s stock.

Several other research analysts have also weighed in on HES. Susquehanna raised their price objective on shares of Hess from $152.00 to $156.00 and gave the stock a neutral rating in a report on Monday, March 4th. Piper Sandler upped their price objective on Hess from $169.00 to $172.00 and gave the company an overweight rating in a research note on Thursday, March 14th. Finally, Mizuho lifted their target price on Hess from $200.00 to $205.00 and gave the stock a neutral rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $176.75.

Hess Stock Up 1.7 %

Shares of NYSE HES opened at $154.35 on Wednesday. The firm has a market cap of $47.56 billion, a price-to-earnings ratio of 34.30 and a beta of 1.27. Hess has a 1 year low of $124.27 and a 1 year high of $167.75. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05. The stock’s 50-day simple moving average is $149.96 and its 200-day simple moving average is $146.83.

Hess (NYSE:HES) last announced its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. Hess had a return on equity of 17.00% and a net margin of 12.98%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the company posted $1.78 EPS. Hess’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts anticipate that Hess will post 8.09 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, March 15th. Hess’s dividend payout ratio (DPR) is 38.89%.

Insiders Place Their Bets

In other news, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $144.52, for a total value of $390,348.52. Following the completion of the transaction, the executive vice president now directly owns 162,144 shares in the company, valued at $23,433,050.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the completion of the transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy B. Goodell sold 2,701 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $390,348.52. Following the completion of the sale, the executive vice president now owns 162,144 shares in the company, valued at $23,433,050.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,798 shares of company stock worth $22,811,166. 9.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hess

Several hedge funds have recently made changes to their positions in HES. Veracity Capital LLC bought a new stake in Hess during the first quarter worth approximately $208,000. First Trust Direct Indexing L.P. boosted its stake in shares of Hess by 35.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 6,165 shares of the oil and gas producer’s stock worth $941,000 after acquiring an additional 1,620 shares in the last quarter. Norden Group LLC acquired a new position in shares of Hess in the 1st quarter worth $998,000. Farmers & Merchants Investments Inc. grew its holdings in shares of Hess by 10.3% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 855 shares of the oil and gas producer’s stock worth $131,000 after acquiring an additional 80 shares during the last quarter. Finally, Breakwater Capital Group raised its position in shares of Hess by 8.2% during the first quarter. Breakwater Capital Group now owns 1,629 shares of the oil and gas producer’s stock worth $249,000 after purchasing an additional 124 shares during the period. 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.