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

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

A number of other equities research analysts have also weighed in on HES. Citigroup lifted their target price on Hess from $145.00 to $160.00 and gave the company a neutral rating in a research report on Wednesday, June 5th. Mizuho upped their price objective on shares of Hess from $205.00 to $210.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Susquehanna increased their target price on shares of Hess from $164.00 to $167.00 and gave the stock a neutral rating in a report on Thursday, May 16th. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $177.83.

Hess Stock Down 0.7 %

Shares of HES opened at $146.18 on Thursday. The firm has a fifty day moving average price of $152.95 and a 200-day moving average price of $148.37. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $45.04 billion, a P/E ratio of 22.39 and a beta of 1.19. Hess has a 12-month low of $129.12 and a 12-month high of $167.75.

Hess (NYSE:HES) last released its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $1.43. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The firm’s quarterly revenue was up 36.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 EPS. Equities research analysts expect that Hess will post 9.99 earnings per share for the current year.

Hess Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, June 14th. Hess’s dividend payout ratio is currently 26.80%.

Institutional Trading of Hess

Several hedge funds and other institutional investors have recently made changes to their positions in HES. Manchester Capital Management LLC raised its stake in Hess by 1.4% in the first quarter. Manchester Capital Management LLC now owns 5,102 shares of the oil and gas producer’s stock valued at $779,000 after buying an additional 68 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Hess by 17.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 77 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position 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 valued at $131,000 after purchasing an additional 80 shares during the last quarter. Drive Wealth Management LLC boosted its stake in Hess by 1.8% in the 1st quarter. Drive Wealth Management LLC now owns 4,527 shares of the oil and gas producer’s stock worth $691,000 after purchasing an additional 81 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its position in Hess by 1.5% during the 1st quarter. Pinnacle Associates Ltd. now owns 5,537 shares of the oil and gas producer’s stock worth $845,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors 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.