Hess (NYSE:HES) PT Lowered to $194.00 at Mizuho

Hess (NYSE:HES) had its target price reduced by Mizuho from $210.00 to $194.00 in a report released on Monday morning, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas producer’s stock.

HES has been the subject of a number of other research reports. Citigroup lowered their target price on Hess from $160.00 to $145.00 and set a neutral rating for the company in a research note on Thursday, September 5th. Wolfe Research initiated coverage on Hess in a research note on Thursday, July 18th. They issued a peer perform rating for the company. Sanford C. Bernstein upgraded Hess from a market perform rating to an outperform rating and raised their target price for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. Scotiabank lowered their target price on Hess from $165.00 to $157.00 and set a sector perform rating for the company in a research note on Friday, July 12th. Finally, Piper Sandler lowered their target price on Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $171.31.

Hess Price Performance

Shares of HES stock opened at $131.39 on Monday. The firm has a market cap of $40.48 billion, a P/E ratio of 20.12 and a beta of 1.15. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $167.75. The business’s 50 day moving average price is $138.73 and its 200-day moving average price is $147.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.27.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Hess had a return on equity of 27.43% and a net margin of 21.22%. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. On average, equities research analysts anticipate that Hess will post 11.04 earnings per share for the current year.

Hess Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. This is a positive change from Hess’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. Hess’s dividend payout ratio (DPR) is presently 30.63%.

Institutional Trading of Hess

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Hess by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock worth $4,903,793,000 after purchasing an additional 294,146 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of Hess by 4.4% in the 2nd quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock worth $1,194,619,000 after purchasing an additional 340,490 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Hess by 34.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,835,486 shares of the oil and gas producer’s stock worth $418,291,000 after purchasing an additional 726,631 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Hess by 6.6% in the 2nd quarter. Legal & General Group Plc now owns 2,451,807 shares of the oil and gas producer’s stock worth $361,691,000 after purchasing an additional 150,945 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Hess by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,798,788 shares of the oil and gas producer’s stock worth $265,359,000 after acquiring an additional 181,459 shares during the period. Institutional investors own 88.51% of the company’s stock.

About Hess

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.