Hess Co. (NYSE:HES) Receives Average Rating of “Hold” from Analysts

Hess Co. (NYSE:HES) has been given a consensus recommendation of “Hold” by the ten research firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $180.09.

Several equities research analysts have recently commented on the stock. Mizuho boosted their price target on shares of Hess from $205.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, May 13th. StockNews.com initiated coverage on Hess in a report on Friday, June 28th. They set a “hold” rating for the company. Citigroup lifted their price target on Hess from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, June 5th. Susquehanna upped their price objective on Hess from $164.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, Piper Sandler lifted their target price on Hess from $172.00 to $173.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. CHICAGO TRUST Co NA lifted its stake in shares of Hess by 11.5% during the second quarter. CHICAGO TRUST Co NA now owns 5,268 shares of the oil and gas producer’s stock worth $777,000 after buying an additional 544 shares during the period. Clarus Wealth Advisors raised its stake in Hess by 7.1% in the 2nd quarter. Clarus Wealth Advisors now owns 2,992 shares of the oil and gas producer’s stock worth $442,000 after acquiring an additional 198 shares during the last quarter. Clarius Group LLC lifted its position in Hess by 5.7% during the 2nd quarter. Clarius Group LLC now owns 2,209 shares of the oil and gas producer’s stock worth $326,000 after acquiring an additional 119 shares during the period. Simplicity Wealth LLC grew its stake in Hess by 3.0% during the 2nd quarter. Simplicity Wealth LLC now owns 5,246 shares of the oil and gas producer’s stock valued at $774,000 after purchasing an additional 151 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Hess by 3.6% in the second quarter. CWM LLC now owns 5,643 shares of the oil and gas producer’s stock valued at $833,000 after purchasing an additional 197 shares during the period. Institutional investors and hedge funds own 88.51% of the company’s stock.

Hess Stock Up 0.0 %

Shares of NYSE:HES opened at $147.74 on Friday. The business’s 50 day moving average is $150.59 and its 200 day moving average is $149.03. The stock has a market cap of $45.52 billion, a P/E ratio of 22.62 and a beta of 1.16. Hess has a 52-week low of $131.61 and a 52-week high of $167.75. The company has a quick ratio of 1.10, a current ratio of 1.23 and a debt-to-equity ratio of 0.81.

Hess (NYSE:HES) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. Hess had a return on equity of 22.73% and a net margin of 17.41%. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The business’s revenue was up 36.2% compared to the same quarter last year. Sell-side analysts predict that Hess will post 10.22 EPS for the current year.

Hess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, June 14th. Hess’s dividend payout ratio (DPR) is presently 26.80%.

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.