Hess (NYSE:HES) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Hess (NYSE:HES) in a research report report published on Wednesday. The firm issued a sell rating on the oil and gas producer’s stock.

HES has been the topic of a number of other reports. Susquehanna upped their target price on shares of Hess from $152.00 to $156.00 and gave the company a neutral rating in a research report on Monday, March 4th. Piper Sandler increased their price objective on shares of Hess from $169.00 to $172.00 and gave the company an overweight rating in a report on Thursday, March 14th. Finally, Mizuho lifted their target price on shares of Hess from $200.00 to $205.00 and gave the stock a neutral rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $176.75.

Hess Stock Performance

Shares of Hess stock opened at $154.35 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.05 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $149.96 and a 200 day simple moving average of $146.83. Hess has a fifty-two week low of $124.27 and a fifty-two week high of $167.75. The firm has a market cap of $47.56 billion, a P/E ratio of 34.30 and a beta of 1.27.

Hess (NYSE:HES) last released its earnings results on Wednesday, January 31st. The oil and gas producer reported $1.63 EPS for the quarter, beating the consensus estimate of $1.43 by $0.20. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Hess had a return on equity of 17.00% and a net margin of 12.98%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.78 EPS. Sell-side analysts predict that Hess will post 8.09 earnings per share for the current fiscal year.

Hess Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, March 15th. Hess’s payout ratio is presently 38.89%.

Insider Buying and Selling at Hess

In other news, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $151.08, for a total transaction of $2,103,184.68. Following the transaction, the senior vice president now owns 33,581 shares in the company, valued at approximately $5,073,417.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hess news, SVP Geurt G. Schoonman sold 13,921 shares of Hess stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $151.08, for a total value of $2,103,184.68. Following the transaction, the senior vice president now owns 33,581 shares of the company’s stock, valued at $5,073,417.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy B. Goodell sold 2,701 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $390,348.52. Following the completion of the transaction, the executive vice president now directly owns 162,144 shares of the company’s stock, valued at $23,433,050.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,798 shares of company stock valued at $22,811,166. Company insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Hess

Several institutional investors have recently bought and sold shares of HES. NBC Securities Inc. acquired a new position in Hess during the third quarter worth $26,000. Rise Advisors LLC acquired a new position in shares of Hess during the 1st quarter worth about $27,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Hess in the 4th quarter valued at about $27,000. Larson Financial Group LLC acquired a new stake in shares of Hess in the third quarter valued at about $30,000. Finally, KB Financial Partners LLC bought a new stake in Hess during the first quarter worth about $26,000. Institutional investors own 88.51% of the company’s stock.

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.