Hess (NYSE:HES) Given New $160.00 Price Target at BMO Capital Markets

Hess (NYSE:HES) had its target price increased by equities research analysts at BMO Capital Markets from $155.00 to $160.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price points to a potential upside of 13.51% from the company’s current price.

HES has been the subject of a number of other research reports. Mizuho lowered their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company cut their price objective on Hess from $171.00 to $151.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Piper Sandler dropped their target price on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Citigroup reduced their price target on shares of Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, StockNews.com assumed coverage on shares of Hess in a report on Friday, June 28th. They issued a “hold” rating for the company. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hess currently has a consensus rating of “Moderate Buy” and an average price target of $165.15.

Hess Trading Up 0.1 %

HES traded up $0.09 during trading hours on Friday, reaching $140.96. The company’s stock had a trading volume of 553,866 shares, compared to its average volume of 2,200,044. The business’s 50-day moving average is $135.48 and its 200-day moving average is $146.31. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.27 and a quick ratio of 1.14. The stock has a market cap of $43.43 billion, a PE ratio of 21.59 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.

Hess (NYSE:HES) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the company earned $0.65 EPS. The company’s quarterly revenue was up 40.3% on a year-over-year basis. As a group, equities research analysts predict that Hess will post 10.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hess

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Hess by 0.9% during 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 grew its holdings in Hess by 4.4% in the second quarter. Primecap Management Co. CA now owns 8,098,012 shares of the oil and gas producer’s stock valued at $1,194,619,000 after purchasing an additional 340,490 shares during the period. Bank of New York Mellon Corp increased its position in 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 purchasing an additional 726,631 shares during the last quarter. Legal & General Group Plc raised its stake in Hess by 6.6% during the second 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 during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Hess by 11.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,788 shares of the oil and gas producer’s stock worth $265,359,000 after buying an additional 181,459 shares during the last quarter. Institutional investors and hedge funds 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.