Hess (NYSE:HES) Research Coverage Started at StockNews.com

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

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

Hess Price Performance

Shares of NYSE:HES opened at $162.53 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $50.08 billion, a PE ratio of 24.89 and a beta of 1.27. The firm has a 50 day moving average of $151.37 and a 200-day moving average of $147.22. Hess has a 12 month low of $124.27 and a 12 month high of $167.75.

Hess (NYSE:HES) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating the consensus estimate of $1.73 by $1.43. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company’s revenue was up 36.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 earnings per share. On average, equities research analysts predict that Hess will post 8.58 EPS for the current fiscal year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were issued 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 1.08%. Hess’s dividend payout ratio (DPR) is presently 26.80%.

Insiders Place Their Bets

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 33,581 shares in the company, valued at approximately $5,073,417.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Andrew P. Slentz sold 1,062 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 $153,480.24. Following the completion of the transaction, the senior vice president now directly owns 50,215 shares in the company, valued at $7,257,071.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Geurt G. Schoonman sold 13,921 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, 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. Insiders have sold 155,798 shares of company stock valued at $22,811,166 in the last ninety days. 9.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HES. NBC Securities Inc. acquired a new stake in shares of Hess during the third quarter worth $26,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Hess in the 4th quarter valued at about $27,000. Rise Advisors LLC acquired a new stake in Hess during the first quarter worth approximately $27,000. Sound Income Strategies LLC bought a new stake in Hess in the fourth quarter worth approximately $29,000. Finally, Larson Financial Group LLC acquired a new position in Hess in the third quarter valued at approximately $30,000. Institutional investors own 88.51% of the company’s stock.

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.