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

StockNews.com started coverage on shares of Hess (NYSE:HES) in a research note issued to investors on Friday morning. The firm issued a sell rating on the oil and gas producer’s stock.

Several other research analysts have also recently weighed in on the stock. Mizuho boosted their price target on shares of Hess from $200.00 to $205.00 and gave the company a neutral rating in a research report on Wednesday, March 20th. Susquehanna upped their target price on shares of Hess from $156.00 to $164.00 and gave the company a neutral rating in a research report on Monday, April 22nd. Finally, Piper Sandler boosted their price target on shares of Hess from $172.00 to $173.00 and gave the company an overweight rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $177.42.

Hess Trading Up 0.2 %

HES opened at $158.86 on Friday. Hess has a 12 month low of $124.27 and a 12 month high of $167.75. The stock has a fifty day moving average price of $152.23 and a 200-day moving average price of $147.33. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 0.81. The firm has a market cap of $48.95 billion, a price-to-earnings ratio of 24.33 and a beta of 1.24.

Hess (NYSE:HES) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $1.43. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $2.98 billion. Hess had a net margin of 17.41% and a return on equity of 22.73%. The company’s revenue was up 36.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 earnings per share. As a group, equities research analysts anticipate that Hess will post 9.17 earnings per share for the current fiscal year.

Hess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, March 15th. Hess’s dividend payout ratio (DPR) is 26.80%.

Insider Transactions at Hess

In related news, SVP Geurt G. Schoonman sold 13,921 shares of the firm’s stock in a transaction that occurred on 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 this link. In related news, COO Gregory P. Hill sold 4,708 shares of Hess stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $144.52, for a total transaction of $680,400.16. Following the completion of the transaction, the chief operating officer now directly owns 125,670 shares of the company’s stock, valued at $18,161,828.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Geurt G. Schoonman sold 13,921 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 33,581 shares in the company, valued at approximately $5,073,417.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,798 shares of company stock worth $22,811,166. Corporate insiders own 9.76% of the company’s stock.

Institutional Trading of Hess

Several large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hess by 6.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 129,977 shares of the oil and gas producer’s stock worth $18,737,000 after purchasing an additional 8,439 shares during the last quarter. Arvest Investments Inc. purchased a new position in shares of Hess in the 4th quarter valued at $1,407,000. Exchange Traded Concepts LLC raised its stake in shares of Hess by 1,456.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,504 shares of the oil and gas producer’s stock valued at $1,082,000 after purchasing an additional 7,022 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in shares of Hess during the fourth quarter worth $967,000. Finally, Miller Howard Investments Inc. NY boosted its stake in shares of Hess by 75.3% in the fourth quarter. Miller Howard Investments Inc. NY now owns 39,249 shares of the oil and gas producer’s stock valued at $5,658,000 after purchasing an additional 16,861 shares during the period. 88.51% of the stock is currently 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.