Recent Research Analysts’ Ratings Updates for Hess (HES)

Several analysts have recently updated their ratings and price targets for Hess (NYSE: HES):

• 4/22/2024 – Hess had its price target raised by analysts at Susquehanna from $156.00 to $164.00. They now have a “neutral” rating on the stock.
• 4/18/2024 – Hess had its price target raised by analysts at Piper Sandler from $172.00 to $173.00. They now have an “overweight” rating on the stock.
• 4/17/2024 – Hess is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 4/9/2024 – Hess is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 4/1/2024 – Hess is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 3/24/2024 – Hess is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 3/20/2024 – Hess had its price target raised by analysts at Mizuho from $200.00 to $205.00. They now have a “neutral” rating on the stock.
• 3/16/2024 – Hess is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 3/14/2024 – Hess had its price target raised by analysts at Piper Sandler from $169.00 to $172.00. They now have an “overweight” rating on the stock.
• 3/8/2024 – Hess is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 3/4/2024 – Hess had its price target raised by analysts at Susquehanna from $152.00 to $156.00. They now have a “neutral” rating on the stock.
• 2/29/2024 – Hess is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 2/26/2024 – Hess had its price target raised by analysts at Mizuho from $170.00 to $200.00. They now have a “neutral” rating on the stock.

Hess Stock Performance

Shares of Hess stock opened at $156.23 on Tuesday. The stock has a market cap of $48.13 billion, a PE ratio of 34.72 and a beta of 1.27. The business has a fifty day simple moving average of $150.21 and a 200-day simple moving average of $146.93. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.88. Hess Co. has a 12 month low of $124.27 and a 12 month high of $167.75.

Hess (NYSE:HES) last released its quarterly earnings data 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. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Hess had a return on equity of 17.00% and a net margin of 12.98%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. On average, sell-side analysts anticipate that Hess Co. will post 8.32 EPS for the current fiscal year.

Hess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a yield of 1.12%. Hess’s payout ratio is 38.89%.

Insider Activity at Hess

In related news, CEO John B. Hess sold 73,885 shares of Hess stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the sale, the chief executive officer now owns 138,718 shares of the company’s stock, valued at $20,234,794.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Hess news, CEO John B. Hess sold 73,885 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the transaction, the chief executive officer now directly owns 138,718 shares in the company, valued at $20,234,794.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the transaction, the senior vice president now owns 33,581 shares in the company, valued at $5,073,417.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,798 shares of company stock valued at $22,811,166. Insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Hess

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in shares of Hess by 581.9% in the third quarter. Victory Capital Management Inc. now owns 2,342,311 shares of the oil and gas producer’s stock worth $358,374,000 after purchasing an additional 1,998,824 shares during the period. Alpine Associates Management Inc. bought a new position in shares of Hess in the fourth quarter worth about $237,100,000. Westchester Capital Management LLC bought a new position in shares of Hess in the fourth quarter worth about $213,336,000. Invesco Ltd. increased its stake in shares of Hess by 44.1% in the third quarter. Invesco Ltd. now owns 3,610,484 shares of the oil and gas producer’s stock worth $552,404,000 after purchasing an additional 1,105,204 shares during the period. Finally, FMR LLC increased its stake in shares of Hess by 2.4% in the third quarter. FMR LLC now owns 37,239,078 shares of the oil and gas producer’s stock worth $5,697,579,000 after purchasing an additional 889,122 shares during the period. 88.51% of the stock is currently owned by institutional investors.

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.