Hess (NYSE:HES) Coverage Initiated at StockNews.com

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

HES has been the subject of a number of other research reports. UBS Group lowered their target price on shares of Hess from $192.00 to $173.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Mizuho decreased their price target on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wells Fargo & Company decreased their price target on shares of Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Citigroup decreased their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Scotiabank boosted their price target on shares of Hess from $157.00 to $167.00 and gave the company a “sector perform” rating in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $164.00.

Hess Stock Performance

NYSE:HES opened at $139.42 on Thursday. Hess has a 1 year low of $123.79 and a 1 year high of $167.75. The firm has a 50 day moving average of $135.11 and a 200-day moving average of $145.22. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $42.96 billion, a P/E ratio of 21.35 and a beta of 1.15.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.24 billion. Hess had a net margin of 21.22% and a return on equity of 27.43%. Hess’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Hess will post 10.22 EPS for the current fiscal year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.50 dividend. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 1.43%. The ex-dividend date was Monday, September 16th. Hess’s payout ratio is currently 30.63%.

Institutional Investors Weigh In On Hess

Several institutional investors have recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC bought a new stake in Hess during the 4th quarter worth about $220,000. Mather Group LLC. bought a new stake in Hess during the 1st quarter worth about $52,000. Rise Advisors LLC bought a new stake in Hess during the 1st quarter worth about $27,000. Massmutual Trust Co. FSB ADV lifted its position in Hess by 17.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 507 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 77 shares in the last quarter. Finally, Wedmont Private Capital lifted its position in Hess by 4.7% during the 1st quarter. Wedmont Private Capital now owns 4,412 shares of the oil and gas producer’s stock worth $690,000 after buying an additional 198 shares in the last quarter. 88.51% of the stock is owned by 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.