StockNews.com Begins Coverage on Hess (NYSE:HES)

Research analysts at StockNews.com assumed coverage on shares of Hess (NYSE:HES) in a report issued on Tuesday. The brokerage set a “hold” rating on the oil and gas producer’s stock.

HES has been the topic of several other reports. Mizuho reduced their price target on Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. BMO Capital Markets boosted their price target on Hess from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Scotiabank boosted their price target on Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 10th. Wolfe Research raised 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. Finally, UBS Group reduced their price target on Hess from $192.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $163.30.

Hess Stock Up 0.3 %

Shares of NYSE:HES opened at $146.76 on Tuesday. The stock’s 50-day moving average price is $139.73 and its two-hundred day moving average price is $142.31. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.75. Hess has a 12-month low of $123.79 and a 12-month high of $163.98. The firm has a market cap of $45.22 billion, a price-to-earnings ratio of 17.10 and a beta of 1.15.

Hess (NYSE:HES) last released its quarterly earnings data 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 business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. Hess had a return on equity of 27.41% and a net margin of 20.58%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. On average, research analysts forecast that Hess will post 9.72 EPS for the current year.

Insider Activity

In related news, CEO John B. Hess sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $147.08, for a total transaction of $18,385,000.00. Following the completion of the transaction, the chief executive officer now owns 217,894 shares in the company, valued at $32,047,849.52. The trade was a 36.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Geurt G. Schoonman sold 6,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 27,581 shares of the company’s stock, valued at $3,914,019.71. This represents a 17.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,370 shares of company stock worth $45,856,309. 9.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new position in Hess during the 1st quarter worth $25,000. Covestor Ltd boosted its position in Hess by 59.8% during the 3rd quarter. Covestor Ltd now owns 262 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 98 shares during the period. EverSource Wealth Advisors LLC boosted its position in Hess by 47.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock worth $43,000 after acquiring an additional 88 shares during the period. FSA Wealth Management LLC acquired a new position in Hess during the 3rd quarter worth $37,000. Finally, Eastern Bank acquired a new stake in shares of Hess in the third quarter valued at $48,000. Institutional investors and hedge funds 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.