Hess (HES) – Investment Analysts’ Weekly Ratings Updates

Hess (NYSE: HES) recently received a number of ratings updates from brokerages and research firms:

• 10/10/2024 – Hess had its price target raised by analysts at Scotiabank from $157.00 to $167.00. They now have a “sector perform” rating on the stock.
• 10/9/2024 – Hess is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 10/4/2024 – Hess had its price target raised by analysts at BMO Capital Markets from $155.00 to $160.00. They now have an “outperform” rating on the stock.
• 9/30/2024 – Hess was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating. They now have a $150.00 price target on the stock.
• 9/27/2024 – Hess had its price target lowered by analysts at Wells Fargo & Company from $171.00 to $151.00. They now have an “equal weight” rating on the stock.
• 9/18/2024 – Hess had its price target lowered by analysts at UBS Group AG from $192.00 to $173.00. They now have a “buy” rating on the stock.
• 9/16/2024 – Hess had its price target lowered by analysts at Mizuho from $210.00 to $194.00. They now have a “neutral” rating on the stock.
• 9/13/2024 – Hess had its price target lowered by analysts at Piper Sandler from $173.00 to $167.00.
• 9/5/2024 – Hess had its price target lowered by analysts at Citigroup Inc. from $160.00 to $145.00. They now have a “neutral” rating on the stock.
• 9/4/2024 – Hess had its price target lowered by analysts at Susquehanna from $151.00 to $149.00. They now have a “neutral” rating on the stock.
• 8/20/2024 – Hess had its price target lowered by analysts at UBS Group AG from $193.00 to $192.00. They now have a “buy” rating on the stock.
• 8/19/2024 – Hess was downgraded by analysts at BMO Capital Markets to an “overweight” rating. They now have a $160.00 price target on the stock, down previously from $175.00.
• 8/19/2024 – Hess had its price target lowered by analysts at Susquehanna from $166.00 to $151.00. They now have a “neutral” rating on the stock.

Hess Stock Performance

Hess stock opened at $135.93 on Wednesday. The firm has a 50 day simple moving average of $134.78 and a 200-day simple moving average of $145.58. 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 $41.88 billion, a price-to-earnings ratio of 20.82 and a beta of 1.15. Hess Co. has a 1-year low of $123.79 and a 1-year high of $167.75.

Hess (NYSE:HES) last issued its quarterly earnings results 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. The company had revenue of $3.26 billion for 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%. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, analysts expect that Hess Co. will post 10.22 EPS for the current year.

Hess Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.47%. This is a boost from Hess’s previous quarterly dividend of $0.44. Hess’s payout ratio is currently 30.63%.

Institutional Investors Weigh In On Hess

A number of institutional investors and hedge funds have recently made changes to their positions in HES. New Covenant Trust Company N.A. purchased a new position in Hess in the 1st quarter valued at $25,000. Rise Advisors LLC purchased a new stake in shares of Hess in the first quarter valued at about $27,000. Riverview Trust Co acquired a new position in shares of Hess during the first quarter worth about $36,000. EverSource Wealth Advisors LLC raised its holdings in Hess by 47.6% during the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after purchasing an additional 88 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in Hess in the first quarter valued at about $52,000. 88.51% of the stock is owned by hedge funds and other institutional investors.

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.