Hess (NYSE:HES) Now Covered by StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a research note issued to investors on Sunday. The firm set a “hold” rating on the oil and gas producer’s stock.

A number of other research firms also recently issued reports on HES. Mizuho cut their price target on Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Scotiabank upped their price target on Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Piper Sandler lowered their price target on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. BMO Capital Markets lifted their price objective on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $151.00 to $193.00 in a report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.50.

Hess Trading Down 0.4 %

NYSE HES opened at $135.80 on Friday. Hess has a 52 week low of $123.79 and a 52 week high of $163.98. The business has a 50 day moving average price of $139.57 and a 200-day moving average price of $139.68. 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 company has a market cap of $41.84 billion, a price-to-earnings ratio of 15.83 and a beta of 1.18.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.26. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. Hess’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 EPS. As a group, equities analysts expect that Hess will post 9.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John B. Hess sold 92,894 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the transaction, the chief executive officer now owns 229,465 shares of the company’s stock, valued at $33,914,927. This represents a 28.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction 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 transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at $3,914,019.71. The trade was a 17.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,370 shares of company stock valued at $45,856,309 in the last three months. Company insiders own 9.76% of the company’s stock.

Institutional Trading of Hess

A number of institutional investors have recently modified their holdings of HES. Commonwealth Equity Services LLC lifted its position in shares of Hess by 12.0% during the second quarter. Commonwealth Equity Services LLC now owns 13,153 shares of the oil and gas producer’s stock worth $1,940,000 after acquiring an additional 1,414 shares in the last quarter. TD Asset Management Inc boosted its stake in Hess by 4.6% in the 2nd quarter. TD Asset Management Inc now owns 103,028 shares of the oil and gas producer’s stock worth $15,199,000 after purchasing an additional 4,520 shares during the period. Arizona State Retirement System grew its holdings in Hess by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 80,140 shares of the oil and gas producer’s stock valued at $11,822,000 after buying an additional 810 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Hess by 24.9% during the second quarter. Private Advisor Group LLC now owns 12,453 shares of the oil and gas producer’s stock valued at $1,837,000 after buying an additional 2,484 shares during the period. Finally, Candriam S.C.A. lifted its holdings in shares of Hess by 18.6% in the second quarter. Candriam S.C.A. now owns 18,425 shares of the oil and gas producer’s stock worth $2,718,000 after buying an additional 2,894 shares in the last quarter. 88.51% of the stock is currently 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.