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

StockNews.com started coverage on shares of Hess (NYSE:HES) in a research note released on Sunday morning. The brokerage issued a hold rating on the oil and gas producer’s stock.

A number of other brokerages also recently issued reports on HES. UBS Group dropped their price target on shares of Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Piper Sandler dropped their target price on shares of Hess from $173.00 to $167.00 in a report on Friday, September 13th. BMO Capital Markets increased their price target on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Citigroup lowered their price objective on Hess from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Susquehanna upped their target price on Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $163.30.

Hess Stock Performance

Shares of Hess stock opened at $140.79 on Friday. The stock has a market cap of $43.38 billion, a price-to-earnings ratio of 16.41 and a beta of 1.15. Hess has a twelve month low of $123.79 and a twelve month high of $163.98. The company’s fifty day moving average is $135.73 and its 200 day moving average is $143.33. The company has a quick ratio of 1.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.75.

Hess (NYSE:HES) last issued its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.26. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share. Sell-side analysts forecast that Hess will post 9.76 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. This represents a $2.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. Hess’s dividend payout ratio (DPR) is 23.31%.

Insider Transactions at Hess

In related news, SVP Geurt G. Schoonman sold 6,000 shares of Hess stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the completion of the sale, the senior vice president now owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Geurt G. Schoonman sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $141.91, for a total value of $851,460.00. Following the transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at approximately $3,914,019.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John B. Hess sold 90,476 shares of Hess stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $142.47, for a total value of $12,890,115.72. Following the transaction, the chief executive officer now owns 223,147 shares of the company’s stock, valued at $31,791,753.09. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Hess

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Hess by 0.9% in the first quarter. Vanguard Group Inc. now owns 32,126,526 shares of the oil and gas producer’s stock valued at $4,903,793,000 after purchasing an additional 294,146 shares during the last quarter. Primecap Management Co. CA increased its stake in Hess by 4.4% in the 2nd 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 buying an additional 340,490 shares during the last quarter. Massachusetts Financial Services Co. MA lifted 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 buying an additional 785,270 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Hess by 34.5% in the 2nd 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 last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Hess by 6.6% in the second quarter. Legal & General Group Plc now owns 2,451,807 shares of the oil and gas producer’s stock valued at $361,691,000 after acquiring an additional 150,945 shares in 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.