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

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

Other equities research analysts have also issued research reports about the company. Mizuho boosted their price target on Hess from $205.00 to $210.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Citigroup upped their price target on shares of Hess from $145.00 to $160.00 and gave the stock a neutral rating in a research report on Wednesday, June 5th. Susquehanna lifted their price objective on Hess from $164.00 to $167.00 and gave the company a neutral rating in a research note on Thursday, May 16th. Finally, Piper Sandler lifted their target price on shares of Hess from $172.00 to $173.00 and gave the company an overweight rating in a report on Thursday, April 18th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Hess currently has a consensus rating of Hold and an average price target of $177.83.

Hess Price Performance

Shares of HES opened at $147.52 on Friday. The firm has a 50-day simple moving average of $152.63 and a 200-day simple moving average of $148.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.10 and a current ratio of 1.23. The company has a market capitalization of $45.45 billion, a price-to-earnings ratio of 22.59 and a beta of 1.19. Hess has a fifty-two week low of $129.12 and a fifty-two week high of $167.75.

Hess (NYSE:HES) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. Hess’s quarterly revenue was up 36.2% on a year-over-year basis. On average, equities research analysts anticipate that Hess will post 10.28 earnings per share for the current year.

Hess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, June 14th. Hess’s dividend payout ratio is currently 26.80%.

Institutional Trading of Hess

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC lifted its stake in Hess by 9.8% in the third quarter. Kestra Advisory Services LLC now owns 3,042 shares of the oil and gas producer’s stock valued at $465,000 after buying an additional 271 shares during the last quarter. LPL Financial LLC boosted its position in shares of Hess by 7.0% in the third quarter. LPL Financial LLC now owns 32,333 shares of the oil and gas producer’s stock worth $4,947,000 after buying an additional 2,121 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Hess by 43.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,596 shares of the oil and gas producer’s stock valued at $1,315,000 after acquiring an additional 2,616 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Hess by 27.6% during the third quarter. Tower Research Capital LLC TRC now owns 11,043 shares of the oil and gas producer’s stock valued at $1,690,000 after purchasing an additional 2,391 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Hess by 165.4% during the 3rd quarter. Bank of Nova Scotia now owns 59,754 shares of the oil and gas producer’s stock valued at $9,143,000 after acquiring an additional 37,240 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.