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

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

Several other equities analysts have also issued reports on HES. Scotiabank lifted their price target on shares of Hess from $157.00 to $167.00 and gave the stock a “sector perform” rating in a report on Thursday, October 10th. Citigroup boosted their price objective on shares of Hess from $145.00 to $163.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Mizuho dropped their price objective on shares of Hess from $210.00 to $194.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Susquehanna boosted their price objective on shares of Hess from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company raised shares of Hess from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $151.00 to $193.00 in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $170.50.

Hess Price Performance

NYSE HES opened at $148.79 on Monday. The firm’s fifty day simple moving average is $140.21 and its two-hundred day simple moving average is $139.41. 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 capitalization of $45.84 billion, a P/E ratio of 17.34 and a beta of 1.18.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, October 30th. The oil and gas producer reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.26. Hess had a net margin of 20.58% and a return on equity of 27.41%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the company earned $1.64 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts forecast that Hess will post 9.74 EPS for the current fiscal year.

Hess Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. Hess’s dividend payout ratio is presently 23.31%.

Insider Activity at Hess

In other Hess news, SVP Geurt G. Schoonman sold 6,000 shares of the company’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 completion of the transaction, the senior vice president now owns 27,581 shares in the company, valued at approximately $3,914,019.71. This represents a 17.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John B. Hess sold 92,894 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $147.80, for a total transaction of $13,729,733.20. Following the completion of the transaction, the chief executive officer now owns 229,465 shares of the company’s stock, valued at approximately $33,914,927. This trade represents a 28.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,370 shares of company stock worth $45,856,309 over the last three months. Company insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HES. Cassaday & Co Wealth Management LLC boosted its position in shares of Hess by 2.4% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,266 shares of the oil and gas producer’s stock worth $444,000 after purchasing an additional 78 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in shares of Hess by 5.3% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 1,682 shares of the oil and gas producer’s stock worth $224,000 after purchasing an additional 85 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in Hess by 6.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,577 shares of the oil and gas producer’s stock worth $214,000 after buying an additional 97 shares in the last quarter. Covestor Ltd lifted its holdings 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 buying an additional 98 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its holdings in Hess by 6.3% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,673 shares of the oil and gas producer’s stock worth $231,000 after buying an additional 99 shares in the last quarter. 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.