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

Analysts at StockNews.com initiated coverage on shares of Hess (NYSE:HESGet Free Report) in a report issued on Wednesday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

A number of other research analysts have also issued reports on HES. Susquehanna boosted their price target on Hess from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets upped their price objective on shares of Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Citigroup raised their target price on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Pickering Energy Partners raised shares of Hess to a “hold” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company upgraded shares of Hess from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $151.00 to $193.00 in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Hess has a consensus rating of “Moderate Buy” and an average price target of $170.50.

Check Out Our Latest Stock Analysis on HES

Hess Trading Up 0.4 %

Shares of NYSE:HES opened at $145.77 on Wednesday. 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 company’s 50-day moving average price is $140.93 and its 200 day moving average price is $139.43. The company has a market cap of $44.91 billion, a PE ratio of 16.99 and a beta of 1.18. Hess has a fifty-two week low of $123.79 and a fifty-two week high of $163.98.

Hess (NYSE:HESGet Free Report) last released its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Hess had a return on equity of 27.41% and a net margin of 20.58%. Sell-side analysts anticipate that Hess will post 9.51 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Hess

Hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in shares of Hess by 22.4% during the second quarter. Thrivent Financial for Lutherans now owns 13,739 shares of the oil and gas producer’s stock valued at $2,027,000 after buying an additional 2,515 shares in the last quarter. Mackenzie Financial Corp boosted its position in Hess by 2.4% during the 2nd quarter. Mackenzie Financial Corp now owns 27,553 shares of the oil and gas producer’s stock worth $4,065,000 after acquiring an additional 654 shares during the period. Algert Global LLC grew its stake in Hess by 53.0% during the 2nd quarter. Algert Global LLC now owns 2,920 shares of the oil and gas producer’s stock valued at $431,000 after acquiring an additional 1,011 shares in the last quarter. Creative Planning increased its holdings in shares of Hess by 3.4% in the 2nd quarter. Creative Planning now owns 19,128 shares of the oil and gas producer’s stock valued at $2,822,000 after purchasing an additional 633 shares during the period. Finally, Truist Financial Corp lifted its position in shares of Hess by 47.1% in the second quarter. Truist Financial Corp now owns 20,333 shares of the oil and gas producer’s stock worth $2,999,000 after purchasing an additional 6,508 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.

About Hess

(Get Free Report)

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.

See Also

Analyst Recommendations for Hess (NYSE:HES)

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