Hess (HES) Receives “Neutral” Rating from MKM Partners
MKM Partners reiterated their neutral rating on shares of Hess (NYSE:HES) in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a $71.00 price objective on the oil and gas producer’s stock.
Other equities research analysts also recently issued research reports about the stock. Morgan Stanley set a $63.00 price target on shares of Hess and gave the company a buy rating in a research report on Tuesday, January 29th. Stephens set a $77.00 price target on shares of Hess and gave the company a buy rating in a research report on Monday, December 17th. ValuEngine upgraded shares of Hess from a hold rating to a buy rating in a research report on Saturday. Zacks Investment Research upgraded shares of Hess from a strong sell rating to a hold rating in a research report on Wednesday, February 6th. Finally, Credit Suisse Group reiterated a hold rating and issued a $53.00 target price on shares of Hess in a research report on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $68.69.
Shares of NYSE:HES opened at $66.31 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.91. The company has a market capitalization of $19.86 billion, a P/E ratio of -89.61 and a beta of 1.95. Hess has a 52 week low of $35.59 and a 52 week high of $74.81.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.51%. Hess’s payout ratio is presently -135.14%.
In other Hess news, COO Gregory P. Hill sold 8,700 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $57.93, for a total value of $503,991.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John P. Rielly sold 3,758 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.90, for a total transaction of $221,346.20. The disclosure for this sale can be found here. Insiders sold a total of 470,741 shares of company stock worth $25,677,557 over the last quarter. 12.09% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of HES. Lindbrook Capital LLC bought a new stake in Hess in the 4th quarter valued at $26,000. Oregon Public Employees Retirement Fund boosted its holdings in Hess by 3,900.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,108,647 shares of the oil and gas producer’s stock valued at $27,000 after purchasing an additional 1,080,934 shares during the period. NuWave Investment Management LLC boosted its holdings in Hess by 266.5% in the 4th quarter. NuWave Investment Management LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 605 shares during the period. Rational Advisors LLC boosted its holdings in Hess by 266.5% in the 4th quarter. Rational Advisors LLC now owns 832 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 605 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Hess by 26.2% in the 4th quarter. Parallel Advisors LLC now owns 1,124 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 233 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.
Hess Corporation, an exploration and production company, explores for, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
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