Hess (NYSE:HES) Price Target Cut to $173.00 by Analysts at UBS Group

Hess (NYSE:HES) had its target price lowered by UBS Group from $192.00 to $173.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

Several other equities research analysts have also recently weighed in on the company. Mizuho reduced their price objective on Hess from $210.00 to $194.00 and set a neutral rating for the company in a research report on Monday, September 16th. Piper Sandler reduced their price objective on Hess from $173.00 to $167.00 in a research report on Friday, September 13th. Susquehanna reduced their price objective on Hess from $151.00 to $149.00 and set a neutral rating for the company in a research report on Wednesday, September 4th. Citigroup reduced 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, StockNews.com initiated coverage on Hess in a research report on Friday, June 28th. They issued a hold rating for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $171.31.

Hess Trading Up 0.7 %

Shares of HES stock opened at $134.40 on Wednesday. Hess has a 12 month low of $123.79 and a 12 month high of $167.75. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $138.17 and its two-hundred day moving average is $147.00. The company has a market cap of $41.41 billion, a PE ratio of 20.58 and a beta of 1.15.

Hess (NYSE:HES) last announced its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.48 by $0.14. Hess had a return on equity of 27.43% and a net margin of 21.22%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. Equities analysts predict that Hess will post 11.04 EPS for the current year.

Hess Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This is a boost from Hess’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.49%. Hess’s dividend payout ratio (DPR) is presently 30.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new position in shares of Hess during the first quarter valued at $25,000. Rise Advisors LLC bought a new position in shares of Hess during the first quarter valued at $27,000. Cape Investment Advisory Inc. bought a new position in shares of Hess during the fourth quarter valued at $32,000. Riverview Trust Co acquired a new stake in shares of Hess in the first quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Hess by 47.6% in the first quarter. EverSource Wealth Advisors LLC now owns 273 shares of the oil and gas producer’s stock valued at $43,000 after buying an additional 88 shares in the last quarter. 88.51% of the stock is owned by institutional investors.

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.