Hess (NYSE:HES) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a research note issued to investors on Thursday morning. The firm issued a sell rating on the oil and gas producer’s stock.

Other equities analysts have also issued reports about the stock. Susquehanna upped their target price on shares of Hess from $156.00 to $164.00 and gave the stock a neutral rating in a research note on Monday. Mizuho raised their target price on shares of Hess from $200.00 to $205.00 and gave the company a neutral rating in a research note on Wednesday, March 20th. Finally, Piper Sandler raised their target price on shares of Hess from $172.00 to $173.00 and gave the company an overweight rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $177.42.

Hess Stock Performance

Shares of Hess stock opened at $161.45 on Thursday. Hess has a 52 week low of $124.27 and a 52 week high of $167.75. The stock has a market capitalization of $49.74 billion, a price-to-earnings ratio of 35.88 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.96 and a current ratio of 1.05. The firm has a fifty day moving average of $151.09 and a two-hundred day moving average of $147.20.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.20. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.76 billion. Hess had a net margin of 12.98% and a return on equity of 17.00%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. As a group, equities research analysts predict that Hess will post 8.62 EPS for the current year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.08%. Hess’s payout ratio is presently 38.89%.

Insiders Place Their Bets

In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the sale, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Geurt G. Schoonman sold 13,921 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the sale, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John B. Hess sold 73,885 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $145.87, for a total transaction of $10,777,604.95. Following the completion of the sale, the chief executive officer now directly owns 138,718 shares in the company, valued at approximately $20,234,794.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,798 shares of company stock valued at $22,811,166. 9.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hess

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. acquired a new position in Hess in the first quarter valued at $287,000. Kercheville Advisors LLC lifted its holdings in Hess by 1.1% in the first quarter. Kercheville Advisors LLC now owns 36,225 shares of the oil and gas producer’s stock valued at $5,529,000 after buying an additional 400 shares during the period. Adams Natural Resources Fund Inc. lifted its holdings in Hess by 10.1% in the first quarter. Adams Natural Resources Fund Inc. now owns 141,989 shares of the oil and gas producer’s stock valued at $21,673,000 after buying an additional 13,000 shares during the period. Adams Diversified Equity Fund Inc. bought a new position in shares of Hess during the 1st quarter valued at approximately $14,134,000. Finally, Simplicity Wealth LLC bought a new position in shares of Hess during the 1st quarter valued at approximately $778,000. 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.