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

StockNews.com assumed coverage on shares of Hess (NYSE:HES) in a research note published on Friday. The brokerage issued a sell rating on the oil and gas producer’s stock.

A number of other research firms also recently issued reports on HES. Mizuho raised their price target on Hess from $200.00 to $205.00 and gave the stock a neutral rating in a research note on Wednesday, March 20th. Piper Sandler boosted their price target on shares of Hess from $172.00 to $173.00 and gave the company an overweight rating in a report on Thursday, April 18th. Finally, Susquehanna lifted their target price on shares of Hess from $156.00 to $164.00 and gave the stock a neutral rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $177.42.

Hess Stock Up 0.2 %

Hess stock opened at $158.86 on Friday. The company has a market capitalization of $48.95 billion, a P/E ratio of 24.33 and a beta of 1.24. The company has a quick ratio of 0.96, a current ratio of 1.23 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average price of $152.23 and a 200-day moving average price of $147.33. Hess has a twelve month low of $124.27 and a twelve month high of $167.75.

Hess (NYSE:HES) last released its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The business had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company earned $1.13 EPS. The business’s quarterly revenue was up 36.2% compared to the same quarter last year. As a group, equities analysts predict that Hess will post 9.17 EPS for the current year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were given a $0.4375 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a yield of 1.10%. Hess’s dividend payout ratio is currently 26.80%.

Insider Transactions at Hess

In other news, EVP Timothy B. Goodell sold 2,701 shares of the firm’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 transaction, the executive vice president now directly owns 162,144 shares in the company, valued at $23,433,050.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Andrew P. Slentz sold 1,062 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $153,480.24. Following the transaction, the senior vice president now directly owns 50,215 shares of the company’s stock, valued at approximately $7,257,071.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Timothy B. Goodell sold 2,701 shares of the stock in a transaction on Thursday, March 7th. The stock was 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 owns 162,144 shares in the company, valued at $23,433,050.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,798 shares of company stock worth $22,811,166. Insiders own 9.76% of the company’s stock.

Institutional Trading of Hess

Institutional investors and hedge funds have recently modified their holdings of the stock. NBC Securities Inc. bought a new position in shares of Hess during the third quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Hess during the fourth quarter worth about $27,000. Rise Advisors LLC purchased a new position in Hess in the first quarter valued at about $27,000. Sound Income Strategies LLC purchased a new stake in shares of Hess during the 4th quarter worth approximately $29,000. Finally, Larson Financial Group LLC bought a new position in Hess during the third quarter valued at $30,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

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.