Hess (NYSE:HES) PT Lowered to $194.00

Hess (NYSE:HES) had its price objective lowered by investment analysts at Mizuho from $210.00 to $194.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price target would suggest a potential upside of 49.92% from the company’s current price.

A number of other research firms have also recently commented on HES. Scotiabank cut their price target on shares of Hess from $165.00 to $157.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Susquehanna dropped their target price on shares of Hess from $151.00 to $149.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Sanford C. Bernstein raised shares of Hess from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $166.00 to $172.00 in a research note on Wednesday, July 17th. Citigroup dropped their price objective on Hess from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Piper Sandler lowered their price objective on shares of Hess from $173.00 to $167.00 in a research note on Friday. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Hess presently has a consensus rating of “Hold” and an average price target of $172.77.

Hess Price Performance

NYSE:HES traded up $1.33 during trading hours on Monday, reaching $129.40. The stock had a trading volume of 127,722 shares, compared to its average volume of 2,227,520. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.14 and a current ratio of 1.27. The stock has a market capitalization of $39.87 billion, a PE ratio of 19.89 and a beta of 1.15. Hess has a 52 week low of $123.79 and a 52 week high of $167.75. The company has a 50 day moving average price of $139.71 and a two-hundred day moving average price of $147.53.

Hess (NYSE:HES) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.14. Hess had a net margin of 21.22% and a return on equity of 27.43%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Hess’s revenue was up 40.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Hess will post 11.04 earnings per share for the current fiscal year.

Institutional Trading of Hess

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Treasurer of the State of North Carolina boosted its stake in Hess by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 123,339 shares of the oil and gas producer’s stock worth $17,781,000 after purchasing an additional 1,210 shares during the last quarter. TD Asset Management Inc grew its position in shares of Hess by 14.4% in the fourth quarter. TD Asset Management Inc now owns 100,330 shares of the oil and gas producer’s stock valued at $14,464,000 after purchasing an additional 12,649 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Hess by 136.1% in the fourth quarter. Clearbridge Investments LLC now owns 690,526 shares of the oil and gas producer’s stock valued at $99,546,000 after purchasing an additional 398,089 shares during the last quarter. Tidal Investments LLC boosted its stake in Hess by 59.9% during the first quarter. Tidal Investments LLC now owns 26,823 shares of the oil and gas producer’s stock worth $4,087,000 after buying an additional 10,053 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in Hess by 774.8% during the fourth quarter. Bank of Nova Scotia now owns 522,707 shares of the oil and gas producer’s stock worth $75,351,000 after buying an additional 462,953 shares during the last quarter. 88.51% of the stock is owned by institutional investors and hedge funds.

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.