StockNews.com Begins Coverage on Hess (NYSE:HES)

StockNews.com began coverage on shares of Hess (NYSE:HES) in a report issued on Friday. The firm set a “hold” rating on the oil and gas producer’s stock.

Several other equities research analysts have also recently commented on the stock. Susquehanna raised their target price on shares of Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Mizuho lifted their price objective on Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Piper Sandler increased their target price on Hess from $172.00 to $173.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Citigroup raised their target price on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $177.83.

Hess Stock Performance

Shares of NYSE:HES opened at $147.54 on Friday. 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 company has a market cap of $45.46 billion, a price-to-earnings ratio of 22.59 and a beta of 1.19. Hess has a 12 month low of $129.12 and a 12 month high of $167.75. The company has a 50-day moving average price of $152.85 and a 200-day moving average price of $148.68.

Hess (NYSE:HES) last released its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the company posted $1.13 EPS. Hess’s quarterly revenue was up 36.2% compared to the same quarter last year. As a group, equities analysts anticipate that Hess will post 10.28 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in shares of Hess during the first quarter valued at $25,000. Pacific Capital Wealth Advisors Inc. bought a new position in Hess during the 4th quarter valued at about $27,000. Rise Advisors LLC purchased a new stake in shares of Hess during the 1st quarter valued at about $27,000. Sound Income Strategies LLC bought a new stake in shares of Hess in the fourth quarter worth approximately $29,000. Finally, Cape Investment Advisory Inc. purchased a new position in shares of Hess during the fourth quarter valued at approximately $32,000. 88.51% of the stock is 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.