Hess (NYSE:HES) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Hess (NYSE:HES) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

A number of other research analysts have also commented on the company. Mizuho lowered their price objective on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wolfe Research raised shares of Hess from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Monday, September 30th. Citigroup upped their price objective on shares of Hess from $145.00 to $163.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler lowered their target price on shares of Hess from $173.00 to $167.00 in a research note on Friday, September 13th. Finally, Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $151.00 to $193.00 in a research report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $170.50.

Hess Price Performance

NYSE HES opened at $136.39 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $42.02 billion, a PE ratio of 15.90 and a beta of 1.17. Hess has a 12-month low of $123.79 and a 12-month high of $163.98. The company has a 50 day moving average price of $139.59 and a two-hundred day moving average price of $139.81.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hess had a net margin of 20.58% and a return on equity of 27.41%. Hess’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 earnings per share. As a group, equities analysts predict that Hess will post 9.74 earnings per share for the current fiscal year.

Insider Activity at Hess

In other Hess news, CEO John B. Hess sold 92,894 shares of Hess stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the sale, the chief executive officer now owns 229,465 shares in the company, valued at $33,914,927. The trade was a 28.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Geurt G. Schoonman sold 6,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total transaction of $851,460.00. Following the completion of the transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 314,370 shares of company stock worth $45,856,309. Company insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Hess

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Hess by 58.9% during the third quarter. Wellington Management Group LLP now owns 3,753,126 shares of the oil and gas producer’s stock worth $509,675,000 after acquiring an additional 1,391,311 shares in the last quarter. HBK Investments L P grew its holdings in shares of Hess by 16.7% in the 3rd quarter. HBK Investments L P now owns 7,117,820 shares of the oil and gas producer’s stock worth $966,600,000 after purchasing an additional 1,017,720 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Hess by 31.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,318,822 shares of the oil and gas producer’s stock worth $450,696,000 after purchasing an additional 785,270 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Hess by 76.4% during 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 purchasing an additional 663,338 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings 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 valued at $218,220,000 after purchasing an additional 567,550 shares during the last quarter. 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.