Hess (NYSE:HES) Earns Hold Rating from Analysts at StockNews.com

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

Other research analysts also recently issued research reports about the company. Sanford C. Bernstein raised Hess from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $166.00 to $172.00 in a report on Wednesday, July 17th. Susquehanna raised their price target on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company dropped their price objective on Hess from $171.00 to $151.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Piper Sandler reduced their target price on shares of Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Finally, Scotiabank boosted their price target on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.00.

Hess Price Performance

Hess stock opened at $138.02 on Friday. The business’s fifty day moving average is $135.45 and its two-hundred day moving average is $144.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.27. The firm has a market cap of $42.53 billion, a P/E ratio of 21.14 and a beta of 1.15. Hess has a 52 week low of $123.79 and a 52 week high of $163.98.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The company’s revenue was up 40.3% on a year-over-year basis. Equities research analysts forecast that Hess will post 10.22 earnings per share for the current fiscal year.

Hess Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This is a positive change from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 1.45%. Hess’s dividend payout ratio (DPR) is 30.63%.

Institutional Investors Weigh In On Hess

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of Hess by 34.5% during the second 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 buying an additional 726,631 shares during the period. Hsbc Holdings PLC lifted its stake in Hess by 76.4% in the 2nd quarter. Hsbc Holdings PLC now owns 1,532,132 shares of the oil and gas producer’s stock valued at $227,273,000 after acquiring an additional 663,338 shares in the last quarter. Bank of Montreal Can boosted its position in Hess by 64.3% during the 2nd quarter. Bank of Montreal Can now owns 1,449,969 shares of the oil and gas producer’s stock worth $218,220,000 after acquiring an additional 567,550 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Hess by 45.6% during the 2nd quarter. Marshall Wace LLP now owns 1,794,087 shares of the oil and gas producer’s stock worth $264,664,000 after acquiring an additional 561,832 shares in the last quarter. Finally, Sculptor Capital LP raised its holdings in shares of Hess by 188.7% in the second quarter. Sculptor Capital LP now owns 765,542 shares of the oil and gas producer’s stock valued at $112,933,000 after purchasing an additional 500,342 shares during the last quarter. 88.51% of the stock is currently owned by institutional investors.

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.